Nuveen Asset Management LLC Sells 984,785 Shares of Arcos Dorados Holdings Inc. (NYSE:ARCO)

Nuveen Asset Management LLC trimmed its holdings in Arcos Dorados Holdings Inc. (NYSE:ARCO - Free Report) by 6.7% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 13,725,604 shares of the restaurant operator's stock after selling 984,785 shares during the quarter. Nuveen Asset Management LLC owned about 6.52% of Arcos Dorados worth $99,922,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Spire Wealth Management raised its holdings in shares of Arcos Dorados by 27.2% in the fourth quarter. Spire Wealth Management now owns 7,210 shares of the restaurant operator's stock valued at $52,000 after buying an additional 1,540 shares during the last quarter. R Squared Ltd acquired a new stake in Arcos Dorados during the 4th quarter worth $54,000. Bank of New York Mellon Corp raised its position in shares of Arcos Dorados by 17.5% during 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 acquiring an additional 1,830 shares during the last quarter. Sanctuary Advisors LLC bought a new stake in shares of Arcos Dorados during the 4th quarter valued at $90,000. Finally, Virtu Financial LLC bought a new stake in shares of Arcos Dorados during the 4th quarter valued at $90,000. 55.91% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Separately, StockNews.com lowered Arcos Dorados from a "buy" rating to a "hold" rating in a research report on Wednesday, March 26th.

Arcos Dorados Trading Down 1.7%

Shares of Arcos Dorados stock traded down $0.13 during trading on Tuesday, hitting $7.54. 879,351 shares of the company were exchanged, compared to its average volume of 1,414,581. Arcos Dorados Holdings Inc. has a 1-year low of $6.66 and a 1-year high of $10.55. The firm has a market capitalization of $1.59 billion, a P/E ratio of 10.77 and a beta of 0.65. The company has a debt-to-equity ratio of 1.40, a current ratio of 0.63 and a quick ratio of 0.57. The firm's fifty day moving average price is $7.70 and its 200 day moving average price is $7.84.

Arcos Dorados (NYSE:ARCO - Get Free Report) last issued its quarterly earnings data 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 business had revenue of $1.08 billion during the quarter, compared to analyst estimates of $1.02 billion. During the same quarter in the prior year, the firm posted $0.14 earnings per share. Arcos Dorados's revenue for the quarter was down .4% compared to the same quarter last year. As a group, sell-side analysts expect that Arcos Dorados Holdings Inc. will post 0.63 earnings per share for the current fiscal year.

Arcos Dorados Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, December 26th. Shareholders of record on Monday, December 22nd will be paid a $0.06 dividend. This represents a $0.24 annualized dividend and a yield of 3.18%. The ex-dividend date is Monday, December 22nd. Arcos Dorados's payout ratio is 36.92%.

About Arcos Dorados

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.