Arcos Dorados Holdings Inc. (NYSE:ARCO) Shares Sold by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. lessened its holdings in shares of Arcos Dorados Holdings Inc. (NYSE:ARCO - Free Report) by 10.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 476,537 shares of the restaurant operator's stock after selling 58,453 shares during the quarter. Mirae Asset Global Investments Co. Ltd. owned approximately 0.23% of Arcos Dorados worth $4,041,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also modified their holdings of ARCO. Bank of New York Mellon Corp grew its position in shares of Arcos Dorados by 17.5% during the fourth quarter. Bank of New York Mellon Corp now owns 12,272 shares of the restaurant operator's stock worth $89,000 after purchasing an additional 1,830 shares in the last quarter. Deltec Asset Management LLC increased 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 acquiring an additional 2,000 shares during the last quarter. O Keefe Stevens Advisory Inc. raised its holdings in Arcos Dorados by 0.4% during the 1st quarter. O Keefe Stevens Advisory Inc. now owns 506,247 shares of the restaurant operator's stock valued at $4,080,000 after buying an additional 2,058 shares during the period. Diligent Investors LLC boosted its stake in Arcos Dorados by 3.3% during the fourth quarter. Diligent Investors LLC now owns 72,478 shares of the restaurant operator's stock worth $528,000 after buying an additional 2,317 shares during the period. Finally, Freedom Investment Management Inc. boosted its stake in Arcos Dorados by 10.6% during the fourth quarter. Freedom Investment Management Inc. now owns 35,689 shares of the restaurant operator's stock worth $260,000 after buying an additional 3,427 shares during the period. Hedge funds and other institutional investors own 55.91% of the company's stock.

Arcos Dorados Stock Up 0.8%

Shares of ARCO stock traded up $0.06 on Friday, hitting $7.86. The stock had a trading volume of 610,418 shares, compared to its average volume of 1,404,693. The company has a quick ratio of 0.81, a current ratio of 0.86 and a debt-to-equity ratio of 1.80. The business has a 50 day moving average price of $7.63 and a 200 day moving average price of $7.68. The company has a market cap of $1.66 billion, a PE ratio of 12.09 and a beta of 0.63. Arcos Dorados Holdings Inc. has a one year low of $6.66 and a one year high of $10.55.

Arcos Dorados (NYSE:ARCO - Get Free Report) last released its quarterly earnings data on Wednesday, May 14th. The restaurant operator reported $0.07 earnings per share for the quarter, missing the consensus estimate of $0.13 by ($0.06). The firm had revenue of $1.08 billion during the quarter, compared to the consensus estimate of $1.02 billion. Arcos Dorados had a net margin of 3.00% and a return on equity of 26.70%. The business's revenue was down .4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.14 earnings per share. Research analysts anticipate that Arcos Dorados Holdings Inc. will post 0.63 earnings per share for the current fiscal year.

Arcos Dorados Cuts Dividend

The company also recently announced a dividend, which was paid on Friday, June 27th. Shareholders of record on Wednesday, June 25th were issued a $0.06 dividend. The ex-dividend date was Tuesday, June 24th. This represents a yield of 3.13%. Arcos Dorados's dividend payout ratio is presently 36.92%.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. Wall Street Zen lowered shares of Arcos Dorados from a "buy" rating to a "hold" rating in a research note on Wednesday, March 26th. JPMorgan Chase & Co. lowered shares of 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.

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.