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Arcos Dorados Holdings Inc. $ARCO Shares Sold by Banco BTG Pactual S.A.

Arcos Dorados logo with Retail/Wholesale background

Key Points

  • Banco BTG Pactual S.A. reduced its stake in Arcos Dorados Holdings Inc. by 44.3%, selling 254,960 shares and leaving it with 320,298 shares valued at $2.58 million.
  • In the first quarter, multiple institutional investors adjusted their positions, with Hsbc Holdings PLC increasing its stake by 16.5%, while Moerus Capital Management LLC raised its holdings by 67.3%.
  • Arcos Dorados reported earnings of $0.11 per share, exceeding expectations, although its revenue of $1.14 billion was below analyst forecasts of $1.22 billion.
  • Looking to export and analyze Arcos Dorados data? Unlock 5 Weeks of MarketBeat All Access for Just $5. Claim Your Limited-Time Discount.

Banco BTG Pactual S.A. decreased its stake in shares of Arcos Dorados Holdings Inc. (NYSE:ARCO - Free Report) by 44.3% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 320,298 shares of the restaurant operator's stock after selling 254,960 shares during the period. Banco BTG Pactual S.A. owned about 0.15% of Arcos Dorados worth $2,582,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. R Squared Ltd raised its position in Arcos Dorados by 60.3% in the first quarter. R Squared Ltd now owns 11,800 shares of the restaurant operator's stock worth $95,000 after acquiring an additional 4,440 shares during the period. Boothbay Fund Management LLC grew its stake in shares of Arcos Dorados by 27.0% in the 4th quarter. Boothbay Fund Management LLC now owns 19,761 shares of the restaurant operator's stock worth $144,000 after buying an additional 4,201 shares in the last quarter. Janus Henderson Group PLC purchased a new position in shares of Arcos Dorados in the 4th quarter worth $146,000. First Interstate Bank lifted its holdings in shares of Arcos Dorados by 74.7% in the 1st quarter. First Interstate Bank now owns 19,020 shares of the restaurant operator's stock worth $153,000 after acquiring an additional 8,135 shares during the last quarter. Finally, Raymond James Financial Inc. bought a new stake in shares of Arcos Dorados in the 4th quarter worth about $154,000. Institutional investors own 55.91% of the company's stock.

Arcos Dorados Stock Up 1.6%

Shares of Arcos Dorados stock traded up $0.1150 on Friday, reaching $7.1050. The stock had a trading volume of 1,454,364 shares, compared to its average volume of 1,593,809. The stock has a market capitalization of $1.50 billion, a P/E ratio of 11.28, a P/E/G ratio of 1.39 and a beta of 0.59. Arcos Dorados Holdings Inc. has a 1 year low of $6.51 and a 1 year high of $10.27. The company has a quick ratio of 0.73, a current ratio of 0.80 and a debt-to-equity ratio of 1.62. The company has a 50 day moving average price of $7.34 and a 200 day moving average price of $7.61.

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

Arcos Dorados Cuts Dividend

The business also recently announced a dividend, which was paid on Friday, June 27th. Shareholders of record on Wednesday, June 25th were given a dividend of $0.06 per share. This represents a yield of 313.0%. The ex-dividend date of this dividend was Tuesday, June 24th. Arcos Dorados's payout ratio is currently 38.10%.

Analysts Set New Price Targets

Separately, JPMorgan Chase & Co. lowered shares of Arcos Dorados from an "overweight" rating to a "neutral" rating and lowered their target price for the stock from $10.50 to $8.80 in a report on Wednesday, July 2nd. One equities research analyst has rated the stock with a Hold rating, According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $8.80.

Get Our Latest Report 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.

See Also

Institutional Ownership by Quarter for Arcos Dorados (NYSE:ARCO)

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