Hedges Asset Management LLC trimmed its stake in shares of Arcos Dorados Holdings Inc. (NYSE:ARCO – Get Rating) by 2.2% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 314,985 shares of the restaurant operator's stock after selling 7,194 shares during the period. Arcos Dorados comprises 2.3% of Hedges Asset Management LLC's holdings, making the stock its 8th largest position. Hedges Asset Management LLC's holdings in Arcos Dorados were worth $2,296,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors also recently bought and sold shares of the company. Capital Wealth Alliance LLC acquired a new position in shares of Arcos Dorados in the second quarter worth about $36,000. Cambridge Investment Research Advisors Inc. acquired a new position in Arcos Dorados in the 2nd quarter worth about $68,000. Quantamental Technologies LLC purchased a new position in Arcos Dorados during the second quarter worth approximately $85,000. SG Americas Securities LLC acquired a new stake in Arcos Dorados in the second quarter valued at approximately $102,000. Finally, Y Intercept Hong Kong Ltd acquired a new stake in Arcos Dorados in the second quarter valued at approximately $110,000. 36.56% of the stock is currently owned by hedge funds and other institutional investors.
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A number of brokerages have recently issued reports on ARCO. Barclays began coverage on Arcos Dorados in a research report on Tuesday, September 27th. They set an "overweight" rating and a $9.00 target price on the stock. 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 lifted their price objective on Arcos Dorados from $9.00 to $10.00 and gave the stock a "buy" rating in a report on Tuesday, August 30th. One analyst has rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Buy" and a consensus target price of $9.75.
Arcos Dorados Price Performance
Shares of NYSE:ARCO traded up $0.04 during midday trading on Friday, hitting $8.01. The company's stock had a trading volume of 12,071 shares, compared to its average volume of 958,915. The company has a market cap of $1.69 billion, a P/E ratio of 12.65, a price-to-earnings-growth ratio of 1.42 and a beta of 1.06. Arcos Dorados Holdings Inc. has a 12-month low of $5.10 and a 12-month high of $8.44. The business's 50 day simple moving average is $7.38 and its 200 day simple moving average is $7.27. The company has a debt-to-equity ratio of 2.99, a quick ratio of 0.90 and a current ratio of 0.97.Arcos Dorados (NYSE:ARCO – Get Rating) last released its quarterly earnings data on Wednesday, November 16th. The restaurant operator reported $0.23 EPS for the quarter, beating analysts' consensus estimates of $0.13 by $0.10. The company had revenue of $916.34 million during the quarter, compared to the consensus estimate of $899.48 million. Arcos Dorados had a net margin of 3.89% and a return on equity of 59.43%. On average, analysts forecast that Arcos Dorados Holdings Inc. will post 0.49 EPS for the current year.
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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