Arcos Dorados (NYSE:ARCO) Sees Large Volume Increase - Here's What Happened

Arcos Dorados Holdings Inc. (NYSE:ARCO - Get Free Report) saw an uptick in trading volume on Thursday . 2,385,070 shares were traded during trading, an increase of 57% from the previous session's volume of 1,520,845 shares.The stock last traded at $7.69 and had previously closed at $7.61.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen downgraded shares of Arcos Dorados from a "buy" rating to a "hold" rating in a research note on Wednesday, March 26th.

Arcos Dorados Stock Up 0.8%

The company has a quick ratio of 0.81, a current ratio of 0.86 and a debt-to-equity ratio of 1.80. The stock has a market cap of $1.64 billion, a price-to-earnings ratio of 11.98 and a beta of 0.62. The business's fifty day moving average is $7.60 and its two-hundred day moving average is $7.67.

Arcos Dorados (NYSE:ARCO - Get Free Report) last posted its quarterly earnings results on Wednesday, May 14th. The restaurant operator reported $0.07 EPS for the quarter, missing the consensus estimate of $0.13 by ($0.06). Arcos Dorados had a return on equity of 26.70% and a net margin of 3.00%. The firm had revenue of $1.08 billion for the quarter, compared to analyst estimates of $1.02 billion. During the same quarter last year, the firm earned $0.14 EPS. The company's revenue was down .4% on a year-over-year basis. Equities analysts forecast that Arcos Dorados Holdings Inc. will post 0.63 earnings per share for the current fiscal year.

Arcos Dorados Cuts Dividend

The company also recently declared a dividend, which was paid on Friday, June 27th. Investors of record on Wednesday, June 25th were issued a dividend of $0.06 per share. The ex-dividend date was Tuesday, June 24th. This represents a yield of 3.13%. Arcos Dorados's dividend payout ratio is currently 36.92%.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. Jane Street Group LLC raised its position in shares of Arcos Dorados by 58.3% during the 1st quarter. Jane Street Group LLC now owns 309,785 shares of the restaurant operator's stock worth $2,497,000 after purchasing an additional 114,034 shares during the last quarter. Dynamic Technology Lab Private Ltd purchased a new stake in shares of Arcos Dorados during the 1st quarter valued at $533,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings 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 valued at $27,426,000 after acquiring an additional 121,750 shares in the last quarter. Hancock Whitney Corp lifted its holdings in shares of Arcos Dorados by 17.5% during the 1st quarter. Hancock Whitney Corp now owns 31,282 shares of the restaurant operator's stock valued at $252,000 after acquiring an additional 4,670 shares in the last quarter. Finally, Alta Fox Capital Management LLC acquired a new position in shares of Arcos Dorados during the 1st quarter valued at $9,033,000. 55.91% of the stock is owned by hedge funds and other institutional investors.

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, Curacao, Ecuador, French Guiana, Guadeloupe, Martinique, Mexico, Panama, Peru, Puerto Rico, Trinidad and Tobago, Uruguay, the U.S.