Millennium Management LLC Cuts Stock Holdings in Arcos Dorados Holdings Inc. (NYSE:ARCO)

Millennium Management LLC lessened its stake in Arcos Dorados Holdings Inc. (NYSE:ARCO - Free Report) by 44.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 860,957 shares of the restaurant operator's stock after selling 694,569 shares during the quarter. Millennium Management LLC owned approximately 0.41% of Arcos Dorados worth $6,268,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of ARCO. Price T Rowe Associates Inc. MD raised its holdings in shares of Arcos Dorados by 40.1% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 13,463,466 shares of the restaurant operator's stock worth $98,015,000 after purchasing an additional 3,851,704 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of Arcos Dorados by 96.0% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 3,280,985 shares of the restaurant operator's stock worth $23,886,000 after purchasing an additional 1,606,821 shares during the period. Emeth Value Capital LLC bought a new stake in shares of Arcos Dorados in the 4th quarter worth approximately $11,190,000. Franklin Resources Inc. raised its holdings in shares of 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 purchasing an additional 1,223,260 shares during the period. Finally, Private Management Group Inc. grew its stake in Arcos Dorados by 34.7% in the 4th quarter. Private Management Group Inc. now owns 3,167,857 shares of the restaurant operator's stock valued at $23,062,000 after buying an additional 815,198 shares in the last quarter. Institutional investors own 55.91% of the company's stock.

Analyst Ratings Changes

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

Arcos Dorados Stock Performance

Arcos Dorados stock traded up $0.03 during mid-day trading on Friday, reaching $7.37. The company's stock had a trading volume of 1,458,811 shares, compared to its average volume of 1,419,412. Arcos Dorados Holdings Inc. has a 12-month low of $6.66 and a 12-month high of $10.55. The company has a market capitalization of $1.55 billion, a P/E ratio of 10.53 and a beta of 0.65. 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 firm's fifty day moving average price is $7.56 and its two-hundred day moving average price is $7.77.

Arcos Dorados (NYSE:ARCO - Get Free Report) last released its quarterly earnings data on Wednesday, May 14th. The restaurant operator reported $0.07 earnings per share for the quarter, missing analysts' consensus estimates of $0.13 by ($0.06). The business had revenue of $1.08 billion during the quarter, compared to analysts' expectations of $1.02 billion. Arcos Dorados had a net margin of 3.25% and a return on equity of 29.74%. The firm's quarterly revenue was down .4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.14 earnings per share. Sell-side analysts predict that Arcos Dorados Holdings Inc. will post 0.63 EPS for the current fiscal year.

Arcos Dorados Announces Dividend

The business also recently announced 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 of this dividend is Monday, December 22nd. This represents a $0.24 annualized dividend and a yield of 3.26%. Arcos Dorados's dividend payout ratio (DPR) is presently 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.