INCA Investments LLC increased its stake in Arcos Dorados Holdings Inc. (NYSE:ARCO - Free Report) by 7.5% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,398,553 shares of the restaurant operator's stock after purchasing an additional 97,298 shares during the quarter. Arcos Dorados makes up 4.3% of INCA Investments LLC's investment portfolio, making the stock its 9th largest holding. INCA Investments LLC owned about 0.66% of Arcos Dorados worth $11,035,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors have also recently bought and sold shares of the stock. Pzena Investment Management LLC purchased a new position in Arcos Dorados in the 2nd quarter worth about $51,549,000. Emeth Value Capital LLC grew its stake in Arcos Dorados by 10.0% during the 2nd quarter. Emeth Value Capital LLC now owns 1,530,340 shares of the restaurant operator's stock valued at $12,074,000 after acquiring an additional 138,735 shares in the last quarter. Mraz Amerine & Associates Inc. purchased a new position in Arcos Dorados during the 2nd quarter valued at about $120,000. O Keefe Stevens Advisory Inc. grew its stake in Arcos Dorados by 2.2% during the 2nd quarter. O Keefe Stevens Advisory Inc. now owns 517,208 shares of the restaurant operator's stock valued at $4,081,000 after acquiring an additional 10,961 shares in the last quarter. Finally, Ruffer LLP purchased a new position in Arcos Dorados during the 2nd quarter valued at about $1,003,000. Hedge funds and other institutional investors own 55.91% of the company's stock.
Arcos Dorados Trading Down 0.5%
Shares of NYSE ARCO opened at $6.93 on Thursday. The stock has a market cap of $1.46 billion, a price-to-earnings ratio of 10.99, a PEG ratio of 1.36 and a beta of 0.60. The business has a 50 day simple moving average of $6.94 and a 200 day simple moving average of $7.29. Arcos Dorados Holdings Inc. has a 52 week low of $6.51 and a 52 week high of $9.75. 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 announced its quarterly earnings results on Wednesday, August 13th. The restaurant operator reported $0.11 EPS for the quarter, beating the consensus estimate of $0.05 by $0.06. The business had revenue of $1.14 billion during the quarter, compared to analysts' expectations of $1.22 billion. Arcos Dorados had a return on equity of 24.54% and a net margin of 2.89%.The firm's quarterly revenue was up 2.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.13 EPS. On average, research analysts predict that Arcos Dorados Holdings Inc. will post 0.63 earnings per share for the current fiscal year.
Analyst Ratings Changes
Several equities analysts have weighed in on the company. Weiss Ratings cut Arcos Dorados from a "hold (c-)" rating to a "sell (d+)" rating in a research note on Wednesday, October 8th. Wall Street Zen raised Arcos Dorados from a "hold" rating to a "buy" rating in a research note on Saturday, September 13th. Finally, JPMorgan Chase & Co. cut Arcos Dorados from an "overweight" rating to a "neutral" rating and lowered their target price for the company 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 and one has issued a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of "Reduce" and an average target price of $8.80.
View Our Latest Analysis on ARCO
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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