Goldman Sachs Group Inc. Sells 82,620 Shares of Arcos Dorados Holdings Inc. $ARCO

Key Points

• Goldman Sachs Group Inc. reduced its stake in Arcos Dorados Holdings Inc. by 34.1%, selling 82,620 shares to end with 159,367 shares worth approximately $1.28 million.
• Several hedge funds, including D.E. Shaw & Co. Inc. and Voloridge Investment Management LLC, significantly increased their holdings in Arcos Dorados, reflecting a diverse interest from institutional investors.
• In its latest earnings report, Arcos Dorados posted $0.11 earnings per share, surpassing analyst predictions, while revenue reached $1.14 billion, slightly below expectations.

Goldman Sachs Group Inc. decreased its stake in shares of Arcos Dorados Holdings Inc. (NYSE:ARCO - Free Report) by 34.1% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 159,367 shares of the restaurant operator's stock after selling 82,620 shares during the quarter. Goldman Sachs Group Inc. owned about 0.08% of Arcos Dorados worth $1,284,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently bought and sold shares of the company. Jane Street Group LLC grew its position in Arcos Dorados by 58.3% during the first quarter. Jane Street Group LLC now owns 309,785 shares of the restaurant operator's stock valued at $2,497,000 after acquiring an additional 114,034 shares during the last quarter. Dynamic Technology Lab Private Ltd purchased a new position in shares of Arcos Dorados during the 1st quarter valued at about $533,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Arcos Dorados by 3.7% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 3,402,735 shares of the restaurant operator's stock worth $27,426,000 after acquiring an additional 121,750 shares during the last quarter. Hancock Whitney Corp grew its position in Arcos Dorados by 17.5% in 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 during the last quarter. Finally, Alta Fox Capital Management LLC acquired a new position in Arcos Dorados during the 1st quarter valued at about $9,033,000. 55.91% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the company. Wall Street Zen raised Arcos Dorados from a "hold" rating to a "buy" rating in a report on Saturday, September 13th. JPMorgan Chase & Co. downgraded shares of Arcos Dorados from an "overweight" rating to a "neutral" rating and lowered their price objective for the stock 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, the company currently has an average rating of "Hold" and a consensus price target of $8.80.

Arcos Dorados Stock Performance

Arcos Dorados stock traded down $0.05 during midday trading on Friday, reaching $6.70. 1,869,850 shares of the company traded hands, compared to its average volume of 1,227,273. The firm has a market capitalization of $1.41 billion, a price-to-earnings ratio of 10.64, a price-to-earnings-growth ratio of 1.31 and a beta of 0.63. The business has a 50 day moving average of $7.02 and a two-hundred day moving average of $7.44. Arcos Dorados Holdings Inc. has a 12 month low of $6.51 and a 12 month 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.

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 net margin of 2.89% and a return on equity of 24.54%. The company had revenue of $1.14 billion for the quarter, compared to the consensus estimate of $1.22 billion. During the same quarter in the previous year, the firm earned $0.13 EPS. Arcos Dorados's revenue was up 2.8% compared to the same quarter last year. As a group, research analysts predict that Arcos Dorados Holdings Inc. will post 0.63 earnings per share for the current year.

About Arcos Dorados

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.