Invesco Ltd. Has $30.56 Million Position in Arcos Dorados Holdings Inc. $ARCO

Key Points

• Invesco Ltd. reduced its stake in Arcos Dorados Holdings Inc. by 12.3%, holding approximately 1.80% of the company, valued at $30.56 million.
• JPMorgan Chase & Co. downgraded Arcos Dorados from an "overweight" to a "neutral" rating and lowered the price target from $10.50 to $8.80.
• Arcos Dorados recently posted earnings of $0.11 per share, exceeding expectations, although revenue was $1.14 billion, falling short of analysts' predictions.

Invesco Ltd. reduced its holdings in Arcos Dorados Holdings Inc. (NYSE:ARCO - Free Report) by 12.3% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 3,791,656 shares of the restaurant operator's stock after selling 529,504 shares during the period. Invesco Ltd. owned approximately 1.80% of Arcos Dorados worth $30,561,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. R Squared Ltd increased its position in Arcos Dorados by 60.3% in the 1st quarter. R Squared Ltd now owns 11,800 shares of the restaurant operator's stock worth $95,000 after buying an additional 4,440 shares during the period. Boothbay Fund Management LLC increased its position in shares of Arcos Dorados by 27.0% during the fourth quarter. Boothbay Fund Management LLC now owns 19,761 shares of the restaurant operator's stock valued at $144,000 after purchasing an additional 4,201 shares during the period. Janus Henderson Group PLC bought a new stake in shares of Arcos Dorados during the fourth quarter valued at approximately $146,000. First Interstate Bank increased its position in shares of Arcos Dorados by 74.7% during the first quarter. First Interstate Bank now owns 19,020 shares of the restaurant operator's stock valued at $153,000 after purchasing an additional 8,135 shares during the period. Finally, Raymond James Financial Inc. bought a new stake in shares of Arcos Dorados during the fourth quarter valued at approximately $154,000. 55.91% of the stock is owned by institutional investors.

Arcos Dorados Price Performance

ARCO stock traded down $0.1550 during trading on Monday, hitting $6.9550. The company had a trading volume of 761,858 shares, compared to its average volume of 1,607,433. The company has a fifty day moving average price of $7.32 and a two-hundred day moving average price of $7.60. The company has a current ratio of 0.80, a quick ratio of 0.73 and a debt-to-equity ratio of 1.62. The company has a market cap of $1.47 billion, a P/E ratio of 11.04, a P/E/G ratio of 1.39 and a beta of 0.59. Arcos Dorados Holdings Inc. has a fifty-two week low of $6.51 and a fifty-two week high of $10.27.

Arcos Dorados (NYSE:ARCO - Get Free Report) last announced its quarterly earnings results on Wednesday, August 13th. The restaurant operator reported $0.11 EPS for the quarter, beating the consensus estimate of $0.05 by $0.06. The business had revenue of $1.14 billion for the quarter, compared to analyst estimates of $1.22 billion. Arcos Dorados had a return on equity of 24.54% and a net margin of 2.89%.Arcos Dorados's quarterly revenue was up 2.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.13 EPS. Equities research analysts expect 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 disclosed a dividend, which was paid on Friday, June 27th. Shareholders of record on Wednesday, June 25th were paid a $0.06 dividend. The ex-dividend date of this dividend was Tuesday, June 24th. This represents a yield of 313.0%. Arcos Dorados's payout ratio is currently 38.10%.

Wall Street Analyst Weigh In

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

About Arcos Dorados

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.