Arcos Dorados Holdings Inc. $ARCO Position Cut by Handelsbanken Fonder AB

Handelsbanken Fonder AB lowered its holdings in shares of Arcos Dorados Holdings Inc. (NYSE:ARCO) by 19.9% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 240,928 shares of the restaurant operator’s stock after selling 60,000 shares during the period. Handelsbanken Fonder AB owned approximately 0.11% of Arcos Dorados worth $1,901,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Nuveen LLC acquired a new position in shares of Arcos Dorados during the first quarter valued at $79,583,000. Pzena Investment Management LLC bought a new position in Arcos Dorados in the 2nd quarter valued at about $51,549,000. Moerus Capital Management LLC increased its stake in Arcos Dorados by 67.3% during the 1st quarter. Moerus Capital Management LLC now owns 3,552,013 shares of the restaurant operator’s stock valued at $28,629,000 after buying an additional 1,429,338 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of Arcos Dorados by 3.7% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 3,402,735 shares of the restaurant operator’s stock worth $27,426,000 after buying an additional 121,750 shares in the last quarter. Finally, Fourth Sail Capital LP acquired a new stake in shares of Arcos Dorados in the 1st quarter worth approximately $26,746,000. Institutional investors and hedge funds own 55.91% of the company’s stock.

Arcos Dorados Price Performance

NYSE ARCO opened at $7.30 on Thursday. Arcos Dorados Holdings Inc. has a 1 year low of $6.51 and a 1 year high of $8.52. The business’s fifty day moving average is $7.06 and its two-hundred day moving average is $7.22. The stock has a market capitalization of $1.54 billion, a P/E ratio of 11.58, a P/E/G ratio of 3.46 and a beta of 0.60. The company has a debt-to-equity ratio of 1.62, a quick ratio of 0.73 and a current ratio of 0.80.

Arcos Dorados (NYSE:ARCO) last issued its earnings results on Wednesday, November 12th. The restaurant operator reported $0.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.10 by $0.02. The business had revenue of $1.19 billion for the quarter, compared to analysts’ expectations of $1.28 billion. Arcos Dorados had a return on equity of 24.54% and a net margin of 2.89%.The company’s quarterly revenue was up 5.2% on a year-over-year basis. During the same period in the previous year, the firm posted $0.17 EPS. On average, research analysts forecast that Arcos Dorados Holdings Inc. will post 0.63 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

ARCO has been the topic of a number of research analyst reports. Zacks Research upgraded shares of Arcos Dorados from a “strong sell” rating to a “hold” rating in a research note on Friday, November 21st. JPMorgan Chase & Co. decreased their price target on Arcos Dorados from $8.80 to $8.70 and set a “neutral” rating for the company in a research note on Tuesday, November 11th. Weiss Ratings downgraded Arcos Dorados from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Wednesday, October 8th. Finally, Wall Street Zen upgraded Arcos Dorados from a “hold” rating to a “buy” rating in a report on Saturday, November 15th. Two investment analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Reduce” and an average target price of $8.70.

About Arcos Dorados

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.