TimesSquare Capital Management LLC Sells 375,250 Shares of Arcos Dorados Holdings Inc. (NYSE:ARCO)

TimesSquare Capital Management LLC cut its holdings in Arcos Dorados Holdings Inc. (NYSE:ARCO - Free Report) by 25.5% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,097,240 shares of the restaurant operator's stock after selling 375,250 shares during the quarter. TimesSquare Capital Management LLC owned approximately 0.52% of Arcos Dorados worth $8,844,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently modified their holdings of the business. Harbour Capital Advisors LLC purchased a new stake in Arcos Dorados in the first quarter worth about $736,000. Jane Street Group LLC raised its holdings in Arcos Dorados by 156.6% in the 4th quarter. Jane Street Group LLC now owns 195,751 shares of the restaurant operator's stock worth $1,425,000 after acquiring an additional 119,477 shares during the last quarter. Dodge & Cox purchased a new position in Arcos Dorados in the 4th quarter worth approximately $772,000. Franklin Resources Inc. raised its holdings in Arcos Dorados by 88.1% in the 4th quarter. Franklin Resources Inc. now owns 2,611,023 shares of the restaurant operator's stock worth $19,008,000 after acquiring an additional 1,223,260 shares during the last quarter. Finally, Renaissance Technologies LLC grew its position in Arcos Dorados by 730.4% in the 4th quarter. Renaissance Technologies LLC now owns 422,934 shares of the restaurant operator's stock worth $3,079,000 after purchasing an additional 372,000 shares during the period. 55.91% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have commented on ARCO. Wall Street Zen downgraded shares of Arcos Dorados from a "buy" rating to a "hold" rating in a research report on Wednesday, March 26th. JPMorgan Chase & Co. downgraded shares of Arcos Dorados from an "overweight" rating to a "neutral" rating and cut their price objective for the company from $10.50 to $8.80 in a research report on Wednesday, July 2nd.

Arcos Dorados Stock Performance

NYSE ARCO traded up $0.02 on Wednesday, reaching $7.18. 238,134 shares of the stock were exchanged, compared to its average volume of 1,418,435. The firm has a market capitalization of $1.51 billion, a PE ratio of 11.01 and a beta of 0.63. The company has a current ratio of 0.86, a quick ratio of 0.81 and a debt-to-equity ratio of 1.80. The company's 50-day simple moving average is $7.61 and its two-hundred day simple moving average is $7.69. 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 issued its earnings results 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 return on equity of 26.70% and a net margin of 3.00%. The company's quarterly revenue was down .4% on a year-over-year basis. During the same period in the prior year, the company posted $0.14 EPS. Analysts expect that Arcos Dorados Holdings Inc. will post 0.63 EPS for the current fiscal year.

Arcos Dorados Cuts Dividend

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