MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in Arcos Dorados Holdings Inc. (NYSE:ARCO - Free Report) by 3.7% during the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 3,402,735 shares of the restaurant operator's stock after purchasing an additional 121,750 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned about 1.62% of Arcos Dorados worth $27,426,000 at the end of the most recent reporting period.
Several other large investors also recently bought and sold shares of the company. Harbour Capital Advisors LLC purchased a new stake in shares of Arcos Dorados in the first quarter valued at $736,000. Jane Street Group LLC lifted its position in shares of Arcos Dorados by 156.6% in the fourth quarter. Jane Street Group LLC now owns 195,751 shares of the restaurant operator's stock valued at $1,425,000 after acquiring an additional 119,477 shares in the last quarter. Alta Fox Capital Management LLC purchased a new stake in shares of Arcos Dorados in the first quarter valued at $9,033,000. Diamond Hill Capital Management Inc. lifted its position in shares of Arcos Dorados by 27.5% in the first quarter. Diamond Hill Capital Management Inc. now owns 234,596 shares of the restaurant operator's stock valued at $1,891,000 after acquiring an additional 50,557 shares in the last quarter. Finally, Janus Henderson Group PLC purchased a new stake in shares of Arcos Dorados in the fourth quarter valued at $146,000. Institutional investors and hedge funds own 55.91% of the company's stock.
Analysts Set New Price Targets
Separately, JPMorgan Chase & Co. downgraded Arcos Dorados from an "overweight" rating to a "neutral" rating and reduced their price objective for the company from $10.50 to $8.80 in a research report on Wednesday, July 2nd. One investment analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $8.80.
Check Out Our Latest Analysis on Arcos Dorados
Arcos Dorados Trading Down 4.0%
NYSE ARCO traded down $0.29 during trading hours on Friday, hitting $6.77. 620,434 shares of the company's stock were exchanged, compared to its average volume of 1,484,305. The business's 50 day moving average is $7.12 and its 200-day moving average is $7.49. Arcos Dorados Holdings Inc. has a 12-month low of $6.51 and a 12-month high of $10.27. The firm has a market capitalization of $1.43 billion, a P/E ratio of 10.74, a price-to-earnings-growth ratio of 1.36 and a beta of 0.63. The company has a debt-to-equity ratio of 1.62, a quick ratio of 0.73 and a current ratio of 0.80.
Arcos Dorados (NYSE:ARCO - Get Free Report) last released 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 the consensus estimate of $1.22 billion. During the same period in the prior year, the business posted $0.13 earnings per share. The firm's revenue for the quarter was up 2.8% compared to the same quarter last year. As a group, analysts anticipate that Arcos Dorados Holdings Inc. will post 0.63 EPS for the current fiscal 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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