Mirae Asset Global Investments Co. Ltd. Has $4.04 Million Stock Holdings in Arcos Dorados Holdings Inc. (NYSE:ARCO)

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

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Harbour Capital Advisors LLC bought a new stake in Arcos Dorados during the 1st quarter worth $736,000. Deltec Asset Management LLC grew its position in Arcos Dorados by 1.2% during the 1st 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. grew its position 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 worth $4,080,000 after acquiring an additional 2,058 shares during the last quarter. Public Employees Retirement System of Ohio grew its position in Arcos Dorados by 53.2% during the 4th quarter. Public Employees Retirement System of Ohio now owns 289,153 shares of the restaurant operator's stock worth $2,105,000 after acquiring an additional 100,461 shares during the last quarter. Finally, PharVision Advisers LLC bought a new stake in Arcos Dorados during the 4th quarter worth $350,000. Institutional investors own 55.91% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on ARCO. Wall Street Zen lowered Arcos Dorados from a "buy" rating to a "hold" rating in a research report on Wednesday, March 26th. JPMorgan Chase & Co. lowered 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 report on Wednesday.

Arcos Dorados Trading Up 0.8%

Shares of NYSE ARCO traded up $0.06 during trading on Friday, reaching $7.86. The company had a trading volume of 610,418 shares, compared to its average volume of 1,407,362. The company's fifty day moving average price is $7.63 and its 200-day moving average price is $7.68. Arcos Dorados Holdings Inc. has a 12 month low of $6.66 and a 12 month high of $10.55. The stock has a market cap of $1.66 billion, a P/E ratio of 12.09 and a beta of 0.63. The company has a quick ratio of 0.81, a current ratio of 0.86 and a debt-to-equity ratio of 1.80.

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

Arcos Dorados Cuts Dividend

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

Arcos Dorados Company 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.