Acorn Financial Advisory Services Inc. ADV lowered its holdings in Arcos Dorados Holdings Inc. (NYSE:ARCO – Get Rating) by 13.3% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 212,747 shares of the restaurant operator's stock after selling 32,522 shares during the period. Acorn Financial Advisory Services Inc. ADV owned approximately 0.10% of Arcos Dorados worth $1,551,000 at the end of the most recent quarter.
A number of other institutional investors have also recently bought and sold shares of the business. Capital Wealth Alliance LLC bought a new stake in Arcos Dorados in the 2nd quarter valued at about $36,000. Amundi boosted its holdings in Arcos Dorados by 1.0% in the 2nd quarter. Amundi now owns 425,945 shares of the restaurant operator's stock valued at $2,667,000 after purchasing an additional 4,016 shares during the period. M&G Investment Management Ltd. boosted its holdings in Arcos Dorados by 5.2% in the 2nd quarter. M&G Investment Management Ltd. now owns 215,138 shares of the restaurant operator's stock valued at $1,506,000 after purchasing an additional 10,677 shares during the period. ExodusPoint Capital Management LP acquired a new position in shares of Arcos Dorados in the 2nd quarter valued at approximately $1,154,000. Finally, Goldman Sachs Group Inc. raised its position in shares of Arcos Dorados by 841.1% in the 2nd quarter. Goldman Sachs Group Inc. now owns 267,339 shares of the restaurant operator's stock valued at $1,802,000 after buying an additional 238,932 shares in the last quarter. Institutional investors own 35.66% of the company's stock.
Get Arcos Dorados alerts:Arcos Dorados Price Performance
ARCO stock opened at $7.54 on Friday. The company has a 50 day simple moving average of $7.33 and a 200 day simple moving average of $7.26. The stock has a market cap of $1.59 billion, a price-to-earnings ratio of 11.97, a P/E/G ratio of 1.28 and a beta of 1.06. Arcos Dorados Holdings Inc. has a 1 year low of $4.96 and a 1 year high of $8.44. The company has a debt-to-equity ratio of 2.99, a current ratio of 0.97 and a quick ratio of 0.90.
Arcos Dorados (NYSE:ARCO – Get Rating) last released its quarterly earnings data on Wednesday, November 16th. The restaurant operator reported $0.23 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.13 by $0.10. Arcos Dorados had a net margin of 3.89% and a return on equity of 59.43%. The business had revenue of $916.34 million during the quarter, compared to analysts' expectations of $899.48 million. Research analysts anticipate that Arcos Dorados Holdings Inc. will post 0.49 EPS for the current fiscal year.Analyst Ratings Changes
Several equities analysts have recently commented on the stock. Barclays assumed coverage on shares of Arcos Dorados in a research report on Tuesday, September 27th. They issued an "overweight" rating and a $9.00 target price for the company. StockNews.com upgraded shares of Arcos Dorados from a "buy" rating to a "strong-buy" rating in a research report on Wednesday, November 23rd. Finally, The Goldman Sachs Group boosted their target price on shares of Arcos Dorados from $9.00 to $10.00 and gave the company a "buy" rating in a research report on Tuesday, August 30th. One equities research analyst has rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Buy" and an average price target of $9.75.
Arcos Dorados Company Profile
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Arcos Dorados Holdings Inc operates as a franchisee of McDonald's restaurants. The company 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.
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