River & Mercantile Asset Management LLP lowered its stake in shares of Arcos Dorados Holding Inc (NYSE:ARCO) by 51.2% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 510,628 shares of the restaurant operator’s stock after selling 536,796 shares during the quarter. River & Mercantile Asset Management LLP’s holdings in Arcos Dorados were worth $1,708,000 as of its most recent SEC filing.
A number of other large investors also recently modified their holdings of the business. Banco BTG Pactual S.A. grew its holdings in Arcos Dorados by 416.6% during the 1st quarter. Banco BTG Pactual S.A. now owns 60,960 shares of the restaurant operator’s stock worth $204,000 after acquiring an additional 49,160 shares during the last quarter. Dynamic Technology Lab Private Ltd acquired a new position in Arcos Dorados during the 1st quarter valued at about $155,000. Thomas White International Ltd. lifted its position in Arcos Dorados by 25.1% during the 1st quarter. Thomas White International Ltd. now owns 217,648 shares of the restaurant operator’s stock valued at $727,000 after purchasing an additional 43,676 shares during the period. Compass Group LLC acquired a new position in Arcos Dorados during the 1st quarter valued at about $464,000. Finally, JPMorgan Chase & Co. lifted its position in Arcos Dorados by 5,495.8% during the 1st quarter. JPMorgan Chase & Co. now owns 1,264,649 shares of the restaurant operator’s stock valued at $4,224,000 after purchasing an additional 1,242,049 shares during the period. 36.91% of the stock is currently owned by hedge funds and other institutional investors.
Shares of NYSE:ARCO traded down $0.62 during mid-day trading on Thursday, reaching $4.16. The stock had a trading volume of 61,490 shares, compared to its average volume of 971,474. The firm has a market cap of $891.79 million, a PE ratio of 61.57 and a beta of 1.68. The firm has a 50 day simple moving average of $3.77 and a two-hundred day simple moving average of $5.86. The company has a current ratio of 0.63, a quick ratio of 0.57 and a debt-to-equity ratio of 5.18. Arcos Dorados Holding Inc has a twelve month low of $2.96 and a twelve month high of $8.41.
Arcos Dorados (NYSE:ARCO) last announced its quarterly earnings results on Wednesday, May 13th. The restaurant operator reported ($0.26) earnings per share for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.30). The firm had revenue of $617.50 million during the quarter, compared to analyst estimates of $564.02 million. Arcos Dorados had a net margin of 0.54% and a return on equity of 4.29%. On average, equities analysts anticipate that Arcos Dorados Holding Inc will post -0.71 EPS for the current fiscal year.
A number of research analysts have issued reports on ARCO shares. JPMorgan Chase & Co. upped their target price on shares of Arcos Dorados from $5.00 to $5.50 and gave the company an “overweight” rating in a research report on Tuesday, June 2nd. ValuEngine upgraded shares of Arcos Dorados from a “hold” rating to a “buy” rating in a research report on Thursday, May 14th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $7.67.
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, Curaçao, Ecuador, French Guiana, Guadeloupe, Martinique, Mexico, Panama, Peru, Puerto Rico, Trinidad and Tobago, Uruguay, the United States Virgin Islands of St.
See Also: Why do companies engage in swaps?
Want to see what other hedge funds are holding ARCO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Arcos Dorados Holding Inc (NYSE:ARCO).
Receive News & Ratings for Arcos Dorados Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Arcos Dorados and related companies with MarketBeat.com's FREE daily email newsletter.