Arcos Dorados Holdings Inc. (NYSE:ARCO) Shares Sold by Bank of America Corp DE

Bank of America Corp DE lessened its position in shares of Arcos Dorados Holdings Inc. (NYSE:ARCO - Free Report) by 15.8% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 462,264 shares of the restaurant operator's stock after selling 86,714 shares during the period. Bank of America Corp DE owned about 0.22% of Arcos Dorados worth $3,365,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. R Squared Ltd acquired a new position in shares of Arcos Dorados during the fourth quarter worth $54,000. Inlet Private Wealth LLC lifted its stake in Arcos Dorados by 64.4% during the fourth quarter. Inlet Private Wealth LLC now owns 43,388 shares of the restaurant operator's stock worth $316,000 after purchasing an additional 17,000 shares during the last quarter. Spire Wealth Management boosted its holdings in Arcos Dorados by 27.2% in the fourth quarter. Spire Wealth Management now owns 7,210 shares of the restaurant operator's stock valued at $52,000 after purchasing an additional 1,540 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its stake in Arcos Dorados by 12.3% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 534,990 shares of the restaurant operator's stock valued at $3,895,000 after purchasing an additional 58,453 shares during the last quarter. Finally, Private Management Group Inc. raised its holdings in Arcos Dorados by 34.7% during the fourth quarter. Private Management Group Inc. now owns 3,167,857 shares of the restaurant operator's stock worth $23,062,000 after purchasing an additional 815,198 shares in the last quarter. 55.91% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Separately, Wall Street Zen cut shares of Arcos Dorados from a "buy" rating to a "hold" rating in a report on Wednesday, March 26th.

Arcos Dorados Stock Performance

NYSE ARCO traded down $0.02 during trading hours on Wednesday, hitting $7.34. The company had a trading volume of 1,381,216 shares, compared to its average volume of 1,412,763. Arcos Dorados Holdings Inc. has a 1-year low of $6.66 and a 1-year high of $10.55. The company has a debt-to-equity ratio of 1.40, a quick ratio of 0.57 and a current ratio of 0.63. The company has a market cap of $1.55 billion, a PE ratio of 10.49 and a beta of 0.65. The business has a 50 day moving average of $7.52 and a 200-day moving average of $7.76.

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 the consensus estimate of $0.13 by ($0.06). The firm had revenue of $1.08 billion for the quarter, compared to analyst estimates of $1.02 billion. Arcos Dorados had a return on equity of 29.74% and a net margin of 3.25%. The company's quarterly revenue was down .4% on a year-over-year basis. During the same period last year, the firm earned $0.14 EPS. As a group, equities research analysts expect that Arcos Dorados Holdings Inc. will post 0.63 EPS for the current year.

Arcos Dorados Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 26th. Investors of record on Monday, December 22nd will be given a $0.06 dividend. The ex-dividend date is Monday, December 22nd. This represents a $0.24 annualized dividend and a yield of 3.27%. Arcos Dorados's dividend payout ratio (DPR) is 36.92%.

Arcos Dorados 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.