California Public Employees Retirement System Sells 12,075 Shares of Arcos Dorados Holding Inc (ARCO)

California Public Employees Retirement System cut its holdings in Arcos Dorados Holding Inc (NYSE:ARCO) by 2.4% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 497,125 shares of the restaurant operator’s stock after selling 12,075 shares during the quarter. California Public Employees Retirement System’s holdings in Arcos Dorados were worth $4,996,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in ARCO. Virtu Financial LLC purchased a new stake in Arcos Dorados during the 3rd quarter valued at about $105,000. Janney Montgomery Scott LLC purchased a new stake in Arcos Dorados during the 3rd quarter valued at about $125,000. Carmignac Gestion purchased a new stake in Arcos Dorados during the 3rd quarter valued at about $10,448,000. Investec Asset Management LTD grew its position in Arcos Dorados by 273.2% during the 3rd quarter. Investec Asset Management LTD now owns 1,853,483 shares of the restaurant operator’s stock valued at $18,628,000 after purchasing an additional 1,356,816 shares during the last quarter. Finally, Wells Fargo & Company MN grew its position in Arcos Dorados by 399.0% during the 3rd quarter. Wells Fargo & Company MN now owns 120,754 shares of the restaurant operator’s stock valued at $1,213,000 after purchasing an additional 96,553 shares during the last quarter. 36.59% of the stock is currently owned by hedge funds and other institutional investors.

Arcos Dorados Holding Inc (NYSE:ARCO) opened at $9.70 on Monday. The company has a debt-to-equity ratio of 1.45, a quick ratio of 0.89 and a current ratio of 0.99. The stock has a market cap of $2,050.00, a PE ratio of 25.53, a price-to-earnings-growth ratio of 2.21 and a beta of 2.04. Arcos Dorados Holding Inc has a one year low of $5.50 and a one year high of $10.80.

ARCO has been the topic of several research analyst reports. HSBC initiated coverage on shares of Arcos Dorados in a research note on Wednesday, November 15th. They set a “buy” rating and a $12.00 target price on the stock. BidaskClub cut shares of Arcos Dorados from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, November 15th. Zacks Investment Research upgraded shares of Arcos Dorados from a “hold” rating to a “buy” rating and set a $11.00 target price on the stock in a research note on Thursday. Finally, TheStreet upgraded shares of Arcos Dorados from a “c+” rating to a “b” rating in a research note on Tuesday, November 21st. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $10.90.

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About Arcos Dorados

Arcos Dorados Holdings Inc is a McDonald’s franchisee. The Company operates or franchises over 2,140 McDonald’s-branded restaurants. It divides its operations into four geographical divisions: Brazil; the Caribbean division, consisting of Aruba, Colombia, Curacao, French Guiana, Guadeloupe, Martinique, Puerto Rico, Trinidad and Tobago, the United States Virgin Islands of Saint Croix and Saint Thomas, and Venezuela; the North Latin America division (NOLAD), consisting of Costa Rica, Mexico and Panama, and the South Latin America division (SLAD), consisting of Argentina, Chile, Ecuador, Peru and Uruguay.

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Institutional Ownership by Quarter for Arcos Dorados (NYSE:ARCO)

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