Diligent Investors LLC Sells 11,159 Shares of Arcos Dorados Holdings Inc. (NYSE:ARCO)

Diligent Investors LLC trimmed its holdings in shares of Arcos Dorados Holdings Inc. (NYSE:ARCO) by 13.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 72,125 shares of the restaurant operator’s stock after selling 11,159 shares during the quarter. Diligent Investors LLC’s holdings in Arcos Dorados were worth $915,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Avior Wealth Management LLC raised its stake in Arcos Dorados by 60.6% during the third quarter. Avior Wealth Management LLC now owns 2,730 shares of the restaurant operator’s stock valued at $26,000 after purchasing an additional 1,030 shares in the last quarter. Point72 Asset Management L.P. purchased a new position in Arcos Dorados in the second quarter worth about $32,000. Quarry LP lifted its stake in shares of Arcos Dorados by 607.6% in the 1st quarter. Quarry LP now owns 4,260 shares of the restaurant operator’s stock valued at $33,000 after purchasing an additional 3,658 shares during the last quarter. Tower Research Capital LLC TRC boosted its holdings in shares of Arcos Dorados by 256.2% in the 1st quarter. Tower Research Capital LLC TRC now owns 6,640 shares of the restaurant operator’s stock worth $51,000 after purchasing an additional 4,776 shares during the period. Finally, Wells Fargo & Company MN raised its holdings in Arcos Dorados by 34.9% during the 4th quarter. Wells Fargo & Company MN now owns 7,358 shares of the restaurant operator’s stock valued at $62,000 after buying an additional 1,902 shares during the period. 36.34% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts have commented on the stock. Jefferies Financial Group started coverage on shares of Arcos Dorados in a research note on Friday, December 1st. They set a “buy” rating and a $15.00 price objective for the company. TheStreet upgraded Arcos Dorados from a “c+” rating to a “b-” rating in a research report on Tuesday, November 28th. Finally, StockNews.com upgraded Arcos Dorados from a “hold” rating to a “buy” rating in a report on Tuesday, November 21st. Four research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $13.38.

Arcos Dorados Stock Down 3.9 %

Shares of ARCO stock traded down $0.44 during mid-day trading on Monday, hitting $10.91. The stock had a trading volume of 1,764,879 shares, compared to its average volume of 980,828. Arcos Dorados Holdings Inc. has a 12-month low of $7.01 and a 12-month high of $13.20. The company has a debt-to-equity ratio of 1.38, a current ratio of 0.72 and a quick ratio of 0.71. The firm’s 50-day moving average is $11.99 and its two-hundred day moving average is $11.11. The firm has a market capitalization of $2.30 billion, a P/E ratio of 12.84, a price-to-earnings-growth ratio of 0.98 and a beta of 1.27.

Arcos Dorados Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Tuesday, September 24th will be issued a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a yield of 2.20%. The ex-dividend date of this dividend is Tuesday, September 24th. Arcos Dorados’s payout ratio is 18.82%.

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.