Castleark Management LLC bought a new stake in shares of Arcos Dorados Holding Inc (NYSE:ARCO) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 15,300 shares of the restaurant operator’s stock, valued at approximately $158,000.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in ARCO. Investec Asset Management LTD grew its position in shares of Arcos Dorados by 273.2% during the 3rd quarter. Investec Asset Management LTD now owns 1,853,483 shares of the restaurant operator’s stock valued at $18,628,000 after acquiring an additional 1,356,816 shares during the period. TIAA CREF Investment Management LLC boosted its holdings in Arcos Dorados by 18.4% in the 4th quarter. TIAA CREF Investment Management LLC now owns 8,352,746 shares of the restaurant operator’s stock worth $86,451,000 after buying an additional 1,295,941 shares during the period. Carmignac Gestion purchased a new stake in Arcos Dorados in the 3rd quarter worth $10,448,000. Millennium Management LLC lifted its stake in Arcos Dorados by 43.3% in the 4th quarter. Millennium Management LLC now owns 1,545,992 shares of the restaurant operator’s stock worth $16,001,000 after purchasing an additional 467,422 shares in the last quarter. Finally, Eagle Global Advisors LLC purchased a new stake in Arcos Dorados in the 4th quarter worth $4,448,000. Institutional investors own 40.00% of the company’s stock.
A number of equities analysts have commented on ARCO shares. Zacks Investment Research downgraded shares of Arcos Dorados from a “buy” rating to a “hold” rating in a research note on Wednesday, January 3rd. ValuEngine upgraded shares of Arcos Dorados from a “hold” rating to a “buy” rating in a research note on Monday, April 2nd. Five analysts have rated the stock with a buy rating, Arcos Dorados currently has a consensus rating of “Buy” and an average price target of $10.87.
Shares of NYSE ARCO traded up $0.25 during midday trading on Thursday, reaching $9.05. The company had a trading volume of 445,546 shares, compared to its average volume of 502,926. The company has a current ratio of 1.08, a quick ratio of 0.94 and a debt-to-equity ratio of 1.27. Arcos Dorados Holding Inc has a 1 year low of $7.40 and a 1 year high of $10.80. The stock has a market cap of $1,846.88, a P/E ratio of 14.84, a P/E/G ratio of 1.19 and a beta of 1.85.
Arcos Dorados (NYSE:ARCO) last issued its earnings results on Wednesday, March 21st. The restaurant operator reported $0.33 earnings per share (EPS) for the quarter. The firm had revenue of $896.88 million during the quarter. Arcos Dorados had a net margin of 3.89% and a return on equity of 29.32%. sell-side analysts forecast that Arcos Dorados Holding Inc will post 0.38 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, October 5th. Investors of record on Tuesday, October 2nd will be given a dividend of $0.05 per share. The ex-dividend date of this dividend is Monday, October 1st. This represents a $0.20 annualized dividend and a yield of 2.21%. Arcos Dorados’s dividend payout ratio is presently 16.39%.
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About Arcos Dorados
Arcos Dorados Holdings Inc is a McDonald’s franchisee. The Company operates or franchises over 2,140 McDonald’s-branded restaurants. It divides its operations into four geographical divisions: Brazil; the Caribbean division, consisting of Aruba, Colombia, Curacao, French Guiana, Guadeloupe, Martinique, Puerto Rico, Trinidad and Tobago, the United States Virgin Islands of Saint Croix and Saint Thomas, and Venezuela; the North Latin America division (NOLAD), consisting of Costa Rica, Mexico and Panama, and the South Latin America division (SLAD), consisting of Argentina, Chile, Ecuador, Peru and Uruguay.
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