Price T Rowe Associates Inc. MD Has $84.91 Million Holdings in Arcos Dorados Holdings Inc. $ARCO

Key Points

• Price T Rowe Associates Inc. MD reduced its stake in Arcos Dorados Holdings Inc. by 21.8%, now holding 10,534,266 shares valued at approximately $84.91 million.
• Arcos Dorados reported an EPS of $0.11 for the latest quarter, exceeding the consensus estimate, but its revenue fell short of expectations at $1.14 billion.
• JPMorgan Chase downgraded Arcos Dorados from an "overweight" to a "neutral" rating, with a revised price target of $8.80, down from $10.50.

Price T Rowe Associates Inc. MD cut its holdings in shares of Arcos Dorados Holdings Inc. (NYSE:ARCO - Free Report) by 21.8% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 10,534,266 shares of the restaurant operator's stock after selling 2,929,200 shares during the quarter. Price T Rowe Associates Inc. MD owned 5.00% of Arcos Dorados worth $84,907,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Nuveen LLC acquired a new stake in shares of Arcos Dorados during the 1st quarter valued at about $79,583,000. Moerus Capital Management LLC lifted its holdings in shares of Arcos Dorados by 67.3% during the 1st quarter. Moerus Capital Management LLC now owns 3,552,013 shares of the restaurant operator's stock valued at $28,629,000 after buying an additional 1,429,338 shares during the last quarter. Fourth Sail Capital LP acquired a new stake in shares of Arcos Dorados during the 1st quarter valued at about $26,746,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of Arcos Dorados by 96.0% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 3,280,985 shares of the restaurant operator's stock valued at $23,886,000 after buying an additional 1,606,821 shares during the last quarter. Finally, Private Management Group Inc. lifted its holdings in shares of Arcos Dorados by 1.2% during the 1st quarter. Private Management Group Inc. now owns 3,205,913 shares of the restaurant operator's stock valued at $25,840,000 after buying an additional 38,056 shares during the last quarter. 55.91% of the stock is currently owned by institutional investors and hedge funds.

Arcos Dorados Stock Down 2.2%

ARCO opened at $6.9550 on Tuesday. The business has a 50 day moving average price of $7.32 and a 200 day moving average price of $7.60. 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. The firm has a market cap of $1.47 billion, a P/E ratio of 11.04, a price-to-earnings-growth ratio of 1.39 and a beta of 0.59.

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

Arcos Dorados Cuts Dividend

The business also recently announced a dividend, which was paid on Friday, June 27th. Investors of record on Wednesday, June 25th were issued a $0.06 dividend. This represents a yield of 313.0%. The ex-dividend date was Tuesday, June 24th. Arcos Dorados's payout ratio is 38.10%.

Analyst Ratings Changes

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

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.

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