Budros Ruhlin & Roe Inc. bought a new position in shares of Arcos Dorados Holdings Inc. (NYSE:ARCO) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 26,073 shares of the restaurant operator’s stock, valued at approximately $133,000.
A number of other large investors have also recently modified their holdings of the business. Ruffer LLP acquired a new stake in Arcos Dorados in the first quarter valued at approximately $763,000. HighTower Advisors LLC grew its position in Arcos Dorados by 18.8% in the first quarter. HighTower Advisors LLC now owns 23,974 shares of the restaurant operator’s stock valued at $122,000 after acquiring an additional 3,800 shares in the last quarter. Boston Partners acquired a new stake in Arcos Dorados in the first quarter valued at approximately $705,000. BlackRock Inc. grew its position in Arcos Dorados by 10.4% in the first quarter. BlackRock Inc. now owns 2,781,931 shares of the restaurant operator’s stock valued at $14,160,000 after acquiring an additional 262,561 shares in the last quarter. Finally, Black Creek Investment Management Inc. grew its position in Arcos Dorados by 30.1% in the first quarter. Black Creek Investment Management Inc. now owns 540,000 shares of the restaurant operator’s stock valued at $2,749,000 after acquiring an additional 125,000 shares in the last quarter. 39.44% of the stock is owned by institutional investors.
A number of research firms have recently weighed in on ARCO. The Goldman Sachs Group began coverage on shares of Arcos Dorados in a research report on Wednesday, April 28th. They set a “neutral” rating and a $5.60 price target for the company. Zacks Investment Research raised shares of Arcos Dorados from a “sell” rating to a “hold” rating in a research report on Thursday, April 15th. Finally, TheStreet raised shares of Arcos Dorados from a “d+” rating to a “c-” rating in a research report on Friday, May 7th. Three equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $5.84.
Arcos Dorados (NYSE:ARCO) last announced its quarterly earnings data on Tuesday, May 11th. The restaurant operator reported ($0.14) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.01) by ($0.13). Arcos Dorados had a negative return on equity of 73.32% and a negative net margin of 6.50%. The firm had revenue of $559.84 million for the quarter, compared to the consensus estimate of $554.79 million. Sell-side analysts predict that Arcos Dorados Holdings Inc. will post 0.07 EPS for the current year.
About Arcos Dorados
Arcos Dorados Holdings Inc operates as a franchisee of McDonald's restaurants. The company 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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