Fmr LLC lifted its holdings in Arcos Dorados Holding Inc (NYSE:ARCO) by 23.6% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 91,331 shares of the restaurant operator’s stock after purchasing an additional 17,436 shares during the quarter. Fmr LLC’s holdings in Arcos Dorados were worth $635,000 at the end of the most recent quarter.
Other hedge funds have also bought and sold shares of the company. Blair William & Co. IL purchased a new position in shares of Arcos Dorados in the first quarter valued at $102,000. Element Capital Management LLC purchased a new position in Arcos Dorados during the first quarter worth $151,000. Rational Advisors LLC purchased a new position in Arcos Dorados during the second quarter worth $124,000. Barclays PLC boosted its stake in Arcos Dorados by 286.0% during the first quarter. Barclays PLC now owns 24,600 shares of the restaurant operator’s stock worth $225,000 after buying an additional 18,227 shares during the period. Finally, Eqis Capital Management Inc. purchased a new position in Arcos Dorados during the second quarter worth $237,000. 35.65% of the stock is owned by hedge funds and other institutional investors.
NYSE ARCO opened at $6.62 on Thursday. The company has a quick ratio of 0.95, a current ratio of 1.05 and a debt-to-equity ratio of 1.57. The firm has a market cap of $1.32 billion, a price-to-earnings ratio of 10.87, a PEG ratio of 1.15 and a beta of 1.65. Arcos Dorados Holding Inc has a 52 week low of $6.05 and a 52 week high of $10.80.
Arcos Dorados (NYSE:ARCO) last posted its quarterly earnings data on Wednesday, August 8th. The restaurant operator reported $0.01 EPS for the quarter. The company had revenue of $753.97 million during the quarter. Arcos Dorados had a net margin of 2.82% and a return on equity of 21.03%. Analysts predict that Arcos Dorados Holding Inc will post 0.28 EPS for the current fiscal year.
Several research firms have commented on ARCO. Zacks Investment Research raised shares of Arcos Dorados from a “sell” rating to a “hold” rating in a research note on Tuesday, October 9th. ValuEngine raised shares of Arcos Dorados from a “strong sell” rating to a “sell” rating in a research note on Friday, September 21st. Finally, TheStreet lowered shares of Arcos Dorados from a “b-” rating to a “c+” rating in a research note on Friday, August 31st. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and two have given a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $10.00.
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, Curaçao, Ecuador, French Guiana, Guadeloupe, Martinique, Mexico, Panama, Peru, Puerto Rico, Trinidad and Tobago, Uruguay, the United States Virgin Islands of St.
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