Pzena Investment Management LLC Purchases New Shares in Arcos Dorados Holdings Inc. $ARCO

Pzena Investment Management LLC purchased a new stake in Arcos Dorados Holdings Inc. (NYSE:ARCO) in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 6,533,482 shares of the restaurant operator’s stock, valued at approximately $51,549,000. Pzena Investment Management LLC owned about 3.10% of Arcos Dorados at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of ARCO. Deltec Asset Management LLC raised its position in Arcos Dorados by 1.2% in the 1st quarter. Deltec Asset Management LLC now owns 168,538 shares of the restaurant operator’s stock valued at $1,358,000 after purchasing an additional 2,000 shares during the last quarter. Harbour Capital Advisors LLC purchased a new position in Arcos Dorados during the 1st quarter worth $736,000. American Capital Advisory LLC raised its position in Arcos Dorados by 2.2% during the 1st quarter. American Capital Advisory LLC now owns 239,143 shares of the restaurant operator’s stock worth $1,927,000 after buying an additional 5,217 shares during the last quarter. Catalyst Capital Advisors LLC raised its position in Arcos Dorados by 10.0% during the 1st quarter. Catalyst Capital Advisors LLC now owns 159,840 shares of the restaurant operator’s stock worth $1,288,000 after buying an additional 14,500 shares during the last quarter. Finally, Acorn Financial Advisory Services Inc. ADV raised its position in Arcos Dorados by 12.5% during the 1st quarter. Acorn Financial Advisory Services Inc. ADV now owns 229,838 shares of the restaurant operator’s stock worth $1,852,000 after buying an additional 25,499 shares during the last quarter. Hedge funds and other institutional investors own 55.91% of the company’s stock.

Arcos Dorados Stock Performance

NYSE:ARCO opened at $6.82 on Monday. The company has a quick ratio of 0.73, a current ratio of 0.80 and a debt-to-equity ratio of 1.62. Arcos Dorados Holdings Inc. has a fifty-two week low of $6.51 and a fifty-two week high of $10.03. The stock has a market cap of $1.44 billion, a PE ratio of 10.83, a price-to-earnings-growth ratio of 1.33 and a beta of 0.60. The firm’s fifty day simple moving average is $6.93 and its 200-day simple moving average is $7.30.

Arcos Dorados (NYSE:ARCO) last posted its quarterly earnings results on Wednesday, August 13th. The restaurant operator reported $0.11 earnings per share for the quarter, topping analysts’ consensus estimates of $0.05 by $0.06. Arcos Dorados had a net margin of 2.89% and a return on equity of 24.54%. The business had revenue of $1.14 billion for the quarter, compared to analysts’ expectations of $1.22 billion. During the same period in the prior year, the company posted $0.13 EPS. The business’s revenue for the quarter was up 2.8% on a year-over-year basis. Analysts expect that Arcos Dorados Holdings Inc. will post 0.63 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. Wall Street Zen upgraded shares of Arcos Dorados from a “hold” rating to a “buy” rating in a research report on Saturday, September 13th. JPMorgan Chase & Co. downgraded shares of Arcos Dorados from an “overweight” rating to a “neutral” rating and cut their price objective for the stock from $10.50 to $8.80 in a research report on Wednesday, July 2nd. Finally, Weiss Ratings downgraded shares of Arcos Dorados from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Wednesday, October 8th. One equities research analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Reduce” and an average price target of $8.80.

Arcos Dorados Company Profile

Arcos Dorados Holdings Inc operates as a franchisee of McDonald’s restaurants. It has the exclusive right to own, operate, and grant franchises of McDonald’s restaurants in 20 countries and territories in Latin America and the Caribbean, including Argentina, Aruba, Brazil, Chile, Colombia, Costa Rica, Curacao, Ecuador, French Guiana, Guadeloupe, Martinique, Mexico, Panama, Peru, Puerto Rico, Trinidad and Tobago, Uruguay, the U.S.