Millennium Management LLC Sells 694,569 Shares of Arcos Dorados Holdings Inc. (NYSE:ARCO)

Millennium Management LLC lessened its position in Arcos Dorados Holdings Inc. (NYSE:ARCO - Free Report) by 44.7% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor 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 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Spire Wealth Management boosted its position in Arcos Dorados by 27.2% during the 4th quarter. Spire Wealth Management now owns 7,210 shares of the restaurant operator's stock worth $52,000 after acquiring an additional 1,540 shares during the period. R Squared Ltd acquired a new stake in shares of Arcos Dorados during the fourth quarter worth approximately $54,000. Sanctuary Advisors LLC purchased a new position in Arcos Dorados during the fourth quarter valued at approximately $90,000. Bank of New York Mellon Corp increased its stake in Arcos Dorados by 17.5% in the 4th quarter. Bank of New York Mellon Corp now owns 12,272 shares of the restaurant operator's stock valued at $89,000 after buying an additional 1,830 shares during the period. Finally, Virtu Financial LLC acquired a new position in Arcos Dorados in the 4th quarter valued at approximately $90,000. Hedge funds and other institutional investors own 55.91% of the company's stock.

Arcos Dorados Stock Up 0.4%

ARCO stock traded up $0.03 during mid-day trading on Friday, hitting $7.37. The stock had a trading volume of 1,458,811 shares, compared to its average volume of 1,418,477. Arcos Dorados Holdings Inc. has a 1-year low of $6.66 and a 1-year high of $10.55. The company has a fifty day moving average of $7.58 and a 200 day moving average of $7.79. The company has a current ratio of 0.63, a quick ratio of 0.57 and a debt-to-equity ratio of 1.40. The stock has a market capitalization of $1.55 billion, a price-to-earnings ratio of 10.53 and a beta of 0.65.

Arcos Dorados (NYSE:ARCO - Get Free Report) last announced 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 during the quarter, compared to the consensus estimate of $1.02 billion. Arcos Dorados had a net margin of 3.25% and a return on equity of 29.74%. The company's quarterly revenue was down .4% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.14 EPS. On average, equities analysts expect that Arcos Dorados Holdings Inc. will post 0.63 EPS for the current fiscal year.

Arcos Dorados Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 26th. Stockholders of record on Monday, December 22nd will be paid a dividend of $0.06 per share. The ex-dividend date of this dividend is Monday, December 22nd. This represents a $0.24 annualized dividend and a dividend yield of 3.26%. Arcos Dorados's dividend payout ratio (DPR) is 36.92%.

Wall Street Analysts Forecast Growth

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 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.