Harbour Capital Advisors LLC Takes Position in Arcos Dorados Holdings Inc. (NYSE:ARCO)

Harbour Capital Advisors LLC acquired a new stake in Arcos Dorados Holdings Inc. (NYSE:ARCO - Free Report) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 92,155 shares of the restaurant operator's stock, valued at approximately $736,000.

Other institutional investors also recently bought and sold shares of the company. Sanctuary Advisors LLC acquired a new stake in Arcos Dorados during the 4th quarter worth approximately $90,000. Navellier & Associates Inc. lifted its position in Arcos Dorados by 8.3% during the 4th quarter. Navellier & Associates Inc. now owns 22,258 shares of the restaurant operator's stock worth $162,000 after acquiring an additional 1,700 shares during the period. Bank of New York Mellon Corp lifted its position in Arcos Dorados by 17.5% during the 4th quarter. Bank of New York Mellon Corp now owns 12,272 shares of the restaurant operator's stock worth $89,000 after acquiring an additional 1,830 shares during the period. Fidelis Capital Partners LLC acquired a new stake in Arcos Dorados during the 4th quarter worth approximately $380,000. Finally, Aigen Investment Management LP lifted its position in Arcos Dorados by 166.8% during the 4th quarter. Aigen Investment Management LP now owns 35,277 shares of the restaurant operator's stock worth $257,000 after acquiring an additional 22,053 shares during the period. 55.91% of the stock is currently owned by institutional investors and hedge funds.

Arcos Dorados Stock Performance

Arcos Dorados stock traded up $0.07 during mid-day trading on Friday, reaching $7.79. 1,079,798 shares of the company were exchanged, compared to its average volume of 1,400,545. The company has a debt-to-equity ratio of 1.80, a quick ratio of 0.81 and a current ratio of 0.86. The firm's 50-day simple moving average is $7.60 and its two-hundred day simple moving average is $7.68. The firm has a market cap of $1.64 billion, a PE ratio of 11.98 and a beta of 0.62. Arcos Dorados Holdings Inc. has a twelve month low of $6.66 and a twelve month high of $10.55.

Arcos Dorados (NYSE:ARCO - Get Free Report) last posted 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 business had revenue of $1.08 billion during the quarter, compared to analyst estimates of $1.02 billion. Arcos Dorados had a net margin of 3.00% and a return on equity of 26.70%. The firm's quarterly revenue was down .4% compared to the same quarter last year. During the same period in the prior year, the business earned $0.14 earnings per share. Equities analysts predict that Arcos Dorados Holdings Inc. will post 0.63 earnings per share for the current fiscal year.

Arcos Dorados Cuts Dividend

The firm also recently declared a dividend, which will be paid on Friday, June 27th. Stockholders of record on Wednesday, June 25th will be issued a $0.06 dividend. The ex-dividend date of this dividend is Tuesday, June 24th. This represents a dividend yield of 3.13%. Arcos Dorados's dividend payout ratio is currently 36.92%.

Analyst Ratings Changes

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

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.