Alta Fox Capital Management LLC bought a new position in shares of Arcos Dorados Holdings Inc. (NYSE:ARCO - Free Report) during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 1,120,700 shares of the restaurant operator's stock, valued at approximately $9,033,000. Arcos Dorados makes up approximately 3.6% of Alta Fox Capital Management LLC's portfolio, making the stock its 8th largest position. Alta Fox Capital Management LLC owned approximately 0.53% of Arcos Dorados as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Itau Unibanco Holding S.A. acquired a new stake in shares of Arcos Dorados in the 1st quarter valued at about $73,000. R Squared Ltd increased its position in Arcos Dorados by 60.3% during the first quarter. R Squared Ltd now owns 11,800 shares of the restaurant operator's stock worth $95,000 after buying an additional 4,440 shares during the last quarter. Janus Henderson Group PLC acquired a new position in Arcos Dorados during the fourth quarter worth approximately $146,000. First Interstate Bank increased its position in Arcos Dorados by 74.7% during the first quarter. First Interstate Bank now owns 19,020 shares of the restaurant operator's stock worth $153,000 after buying an additional 8,135 shares during the last quarter. Finally, Raymond James Financial Inc. acquired a new position in Arcos Dorados during the fourth quarter worth approximately $154,000. Institutional investors and hedge funds own 55.91% of the company's stock.
Analyst Upgrades and Downgrades
Separately, JPMorgan Chase & Co. downgraded Arcos Dorados from an "overweight" rating to a "neutral" rating and decreased their target price for the company from $10.50 to $8.80 in a research report on Wednesday, July 2nd. One research analyst has rated the stock with a Hold rating, According to MarketBeat, Arcos Dorados presently has a consensus rating of "Hold" and an average price target of $8.80.
View Our Latest Analysis on Arcos Dorados
Arcos Dorados Price Performance
NYSE:ARCO traded down $0.24 during trading hours on Monday, reaching $6.77. 684,992 shares of the company were exchanged, compared to its average volume of 1,487,435. The company has a market capitalization of $1.43 billion, a P/E ratio of 10.74, a P/E/G ratio of 1.36 and a beta of 0.63. Arcos Dorados Holdings Inc. has a 1-year low of $6.51 and a 1-year high of $10.27. The company has a debt-to-equity ratio of 1.62, a current ratio of 0.80 and a quick ratio of 0.73. The business has a 50 day moving average of $7.20 and a 200 day moving average of $7.51.
Arcos Dorados (NYSE:ARCO - Get Free Report) last issued its quarterly earnings results on Wednesday, August 13th. The restaurant operator reported $0.11 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.05 by $0.06. Arcos Dorados had a return on equity of 24.54% and a net margin of 2.89%.The business had revenue of $1.14 billion for the quarter, compared to the consensus estimate of $1.22 billion. During the same quarter in the prior year, the business posted $0.13 earnings per share. The firm's quarterly revenue was up 2.8% compared to the same quarter last year. Research analysts forecast that Arcos Dorados Holdings Inc. will post 0.63 EPS for the current year.
About Arcos Dorados
(
Free Report)
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.
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