PDT Partners LLC Raises Holdings in Arcos Dorados Holdings Inc. $ARCO

Key Points

• PDT Partners LLC increased its stake in Arcos Dorados Holdings Inc. by 34.7%, acquiring an additional 101,115 shares to own approximately 392,673 shares valued at $3.16 million.
• JPMorgan Chase & Co. downgraded Arcos Dorados from an "overweight" to a "neutral" rating, lowering the price target from $10.50 to $8.80.
• Arcos Dorados reported a net margin of 2.89% for the last quarter, with a revenue of $1.14 billion, although it was below the anticipated $1.22 billion.

PDT Partners LLC raised its holdings in shares of Arcos Dorados Holdings Inc. (NYSE:ARCO - Free Report) by 34.7% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 392,673 shares of the restaurant operator's stock after acquiring an additional 101,115 shares during the quarter. PDT Partners LLC owned approximately 0.19% of Arcos Dorados worth $3,165,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. Harbour Capital Advisors LLC acquired a new position in shares of Arcos Dorados during the 1st quarter worth about $736,000. Jane Street Group LLC boosted its position in shares of Arcos Dorados by 156.6% in the 4th quarter. Jane Street Group LLC now owns 195,751 shares of the restaurant operator's stock valued at $1,425,000 after purchasing an additional 119,477 shares during the period. Diamond Hill Capital Management Inc. boosted its position in shares of Arcos Dorados by 27.5% in the 1st quarter. Diamond Hill Capital Management Inc. now owns 234,596 shares of the restaurant operator's stock valued at $1,891,000 after purchasing an additional 50,557 shares during the period. Janus Henderson Group PLC acquired a new stake in shares of Arcos Dorados in the 4th quarter valued at about $146,000. Finally, Fourth Sail Capital LP acquired a new stake in shares of Arcos Dorados in the 1st quarter valued at about $26,746,000. 55.91% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

Arcos Dorados Stock Performance

Arcos Dorados stock traded up $0.08 during mid-day trading on Friday, reaching $7.00. 793,610 shares of the company were exchanged, compared to its average volume of 1,430,438. The firm has a market cap of $1.47 billion, a PE ratio of 11.10, a price-to-earnings-growth ratio of 1.36 and a beta of 0.63. The firm's 50-day simple moving average is $7.20 and its two-hundred day simple moving average is $7.51. Arcos Dorados Holdings Inc. has a twelve month low of $6.51 and a twelve month high of $10.27. The company has a debt-to-equity ratio of 1.62, a quick ratio of 0.73 and a current ratio of 0.80.

Arcos Dorados (NYSE:ARCO - Get Free Report) last issued its earnings results on Wednesday, August 13th. The restaurant operator reported $0.11 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.05 by $0.06. The business had revenue of $1.14 billion during the quarter, compared to the consensus estimate of $1.22 billion. Arcos Dorados had a return on equity of 24.54% and a net margin of 2.89%.The company's revenue for the quarter was up 2.8% on a year-over-year basis. During the same period in the prior year, the business posted $0.13 EPS. Equities analysts predict that Arcos Dorados Holdings Inc. will post 0.63 earnings per share for the current fiscal year.

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.