Arcos Dorados Holdings Inc. $ARCO Shares Bought by MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.

Key Points

• MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Arcos Dorados Holdings Inc. by 3.7% in the first quarter, now owning 3,402,735 shares valued at approximately $27.4 million.
• Arcos Dorados reported a quarterly earnings per share (EPS) of $0.11, exceeding analysts' expectations, while revenue fell short at $1.14 billion.
• JPMorgan Chase & Co. downgraded Arcos Dorados from an "overweight" to a "neutral" rating and reduced its target price for the stock from $10.50 to $8.80.

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of Arcos Dorados Holdings Inc. (NYSE:ARCO - Free Report) by 3.7% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,402,735 shares of the restaurant operator's stock after buying an additional 121,750 shares during the quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned 1.62% of Arcos Dorados worth $27,426,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Deltec Asset Management LLC lifted its stake in Arcos Dorados by 1.2% during the first quarter. Deltec Asset Management LLC now owns 168,538 shares of the restaurant operator's stock worth $1,358,000 after purchasing an additional 2,000 shares during the last quarter. O Keefe Stevens Advisory Inc. lifted its stake in Arcos Dorados by 0.4% during the first quarter. O Keefe Stevens Advisory Inc. now owns 506,247 shares of the restaurant operator's stock worth $4,080,000 after purchasing an additional 2,058 shares during the last quarter. Stifel Financial Corp lifted its stake in Arcos Dorados by 8.0% during the fourth quarter. Stifel Financial Corp now owns 59,414 shares of the restaurant operator's stock worth $433,000 after purchasing an additional 4,407 shares during the last quarter. R Squared Ltd lifted its stake 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 purchasing an additional 4,440 shares during the last quarter. Finally, Hancock Whitney Corp lifted its stake in Arcos Dorados by 17.5% during the first quarter. Hancock Whitney Corp now owns 31,282 shares of the restaurant operator's stock worth $252,000 after purchasing an additional 4,670 shares during the last quarter. 55.91% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Separately, JPMorgan Chase & Co. cut Arcos Dorados from an "overweight" rating to a "neutral" rating and reduced their price objective for the stock from $10.50 to $8.80 in a research note on Wednesday, July 2nd. One equities research analyst has rated the stock with a Hold rating, According to MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $8.80.

Arcos Dorados Stock Performance

NYSE ARCO traded up $0.05 during trading hours on Thursday, hitting $7.05. The company had a trading volume of 691,462 shares, compared to its average volume of 1,487,364. Arcos Dorados Holdings Inc. has a fifty-two week low of $6.51 and a fifty-two week high of $10.27. The company has a quick ratio of 0.73, a current ratio of 0.80 and a debt-to-equity ratio of 1.62. The business has a fifty day simple moving average of $7.14 and a 200-day simple moving average of $7.50. The firm has a market cap of $1.48 billion, a P/E ratio of 11.21, a price-to-earnings-growth ratio of 1.35 and a beta of 0.63.

Arcos Dorados (NYSE:ARCO - Get Free Report) last issued its earnings results on Wednesday, August 13th. The restaurant operator reported $0.11 earnings per share for the quarter, topping the consensus estimate of $0.05 by $0.06. Arcos Dorados had a return on equity of 24.54% and a net margin of 2.89%.The firm had revenue of $1.14 billion for the quarter, compared to analyst estimates of $1.22 billion. During the same period last year, the company earned $0.13 earnings per share. The firm's revenue for the quarter was up 2.8% on a year-over-year basis. Equities analysts predict that Arcos Dorados Holdings Inc. will post 0.63 EPS for the current year.

Arcos Dorados 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.