MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in Arcos Dorados Holdings Inc. (NYSE:ARCO - Free Report) by 96.0% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 3,280,985 shares of the restaurant operator's stock after buying an additional 1,606,821 shares during the quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned approximately 1.56% of Arcos Dorados worth $23,886,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently bought and sold shares of ARCO. Janus Henderson Group PLC acquired a new stake in Arcos Dorados during the fourth quarter valued at $146,000. Eschler Asset Management LLP boosted its stake in shares of Arcos Dorados by 50.0% during the 4th quarter. Eschler Asset Management LLP now owns 112,516 shares of the restaurant operator's stock worth $819,000 after acquiring an additional 37,516 shares in the last quarter. D. E. Shaw & Co. Inc. grew its position in shares of Arcos Dorados by 121.7% during the 4th quarter. D. E. Shaw & Co. Inc. now owns 22,253 shares of the restaurant operator's stock valued at $162,000 after acquiring an additional 12,217 shares during the period. Diligent Investors LLC grew its position in shares of Arcos Dorados by 3.3% during the 4th quarter. Diligent Investors LLC now owns 72,478 shares of the restaurant operator's stock valued at $528,000 after acquiring an additional 2,317 shares during the period. Finally, Balyasny Asset Management L.P. increased its stake in shares of Arcos Dorados by 374.7% in the 4th quarter. Balyasny Asset Management L.P. now owns 214,563 shares of the restaurant operator's stock valued at $1,562,000 after purchasing an additional 169,363 shares in the last quarter. 55.91% of the stock is owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
Separately, StockNews.com lowered Arcos Dorados from a "buy" rating to a "hold" rating in a report on Wednesday, March 26th.
View Our Latest Stock Report on Arcos Dorados
Arcos Dorados Price Performance
Arcos Dorados stock traded up $0.16 during trading on Friday, reaching $7.56. The company had a trading volume of 1,778,727 shares, compared to its average volume of 1,416,511. The firm has a market capitalization of $1.59 billion, a PE ratio of 10.79 and a beta of 0.65. The firm's 50-day simple moving average is $7.71 and its 200 day simple moving average is $7.86. The company has a debt-to-equity ratio of 1.40, a quick ratio of 0.57 and a current ratio of 0.63. Arcos Dorados Holdings Inc. has a 1-year low of $6.66 and a 1-year high of $10.55.
Arcos Dorados (NYSE:ARCO - Get Free Report) last announced its earnings results on Wednesday, May 14th. The restaurant operator reported $0.07 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.13 by ($0.06). Arcos Dorados had a net margin of 3.25% and a return on equity of 29.74%. The company had revenue of $1.08 billion during the quarter, compared to analyst estimates of $1.02 billion. During the same quarter last year, the business earned $0.14 EPS. The firm's revenue for the quarter was down .4% compared to the same quarter last year. As a group, equities research analysts anticipate that Arcos Dorados Holdings Inc. will post 0.63 earnings per share for the current fiscal year.
Arcos Dorados Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 26th. Investors of record on Monday, December 22nd will be issued a $0.06 dividend. This represents a $0.24 annualized dividend and a yield of 3.18%. The ex-dividend date of this dividend is Monday, December 22nd. Arcos Dorados's payout ratio is 36.92%.
About Arcos Dorados
(
Free Report)
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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