Cubist Systematic Strategies LLC decreased its holdings in Arcos Dorados Holding Inc (NYSE:ARCO) by 13.8% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 58,362 shares of the restaurant operator’s stock after selling 9,351 shares during the period. Cubist Systematic Strategies LLC’s holdings in Arcos Dorados were worth $534,000 at the end of the most recent quarter.
Several other large investors have also made changes to their positions in ARCO. Compass Group LLC bought a new position in shares of Arcos Dorados in the 4th quarter valued at about $17,935,000. TIAA CREF Investment Management LLC lifted its holdings in shares of 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 valued at $86,451,000 after acquiring an additional 1,295,941 shares during the last quarter. William Blair Investment Management LLC lifted its holdings in shares of Arcos Dorados by 234.8% in the 4th quarter. William Blair Investment Management LLC now owns 859,579 shares of the restaurant operator’s stock valued at $8,897,000 after acquiring an additional 602,826 shares during the last quarter. Millennium Management LLC lifted its holdings in shares of Arcos Dorados by 43.3% in the 4th quarter. Millennium Management LLC now owns 1,545,992 shares of the restaurant operator’s stock valued at $16,001,000 after acquiring an additional 467,422 shares during the last quarter. Finally, Banco BTG Pactual S.A. bought a new position in shares of Arcos Dorados in the 1st quarter valued at about $2,330,000. 37.56% of the stock is owned by hedge funds and other institutional investors.
Arcos Dorados opened at $6.95 on Friday, Marketbeat.com reports. The company has a debt-to-equity ratio of 1.35, a quick ratio of 0.96 and a current ratio of 1.06. Arcos Dorados Holding Inc has a 1-year low of $6.75 and a 1-year high of $10.80. The stock has a market capitalization of $1.44 billion, a P/E ratio of 11.39, a PEG ratio of 0.92 and a beta of 1.79.
Arcos Dorados (NYSE:ARCO) last posted its quarterly earnings data on Wednesday, May 9th. The restaurant operator reported $0.06 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.08 by ($0.02). Arcos Dorados had a return on equity of 19.72% and a net margin of 2.63%. The firm had revenue of $849.89 million during the quarter. sell-side analysts expect that Arcos Dorados Holding Inc will post 0.38 EPS for the current fiscal year.
Arcos Dorados announced that its board has authorized a share buyback program on Tuesday, May 22nd that permits the company to repurchase $60.00 million in outstanding shares. This repurchase authorization permits the restaurant operator to purchase up to 3.9% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s board of directors believes its stock is undervalued.
A number of research analysts recently commented on ARCO shares. Zacks Investment Research downgraded shares of Arcos Dorados from a “buy” rating to a “hold” rating in a report on Thursday, May 17th. ValuEngine raised shares of Arcos Dorados from a “hold” rating to a “buy” rating in a report on Monday, April 2nd. One analyst has rated the stock with a sell rating and four have issued a buy rating to the stock. Arcos Dorados currently has an average rating of “Buy” and an average price target of $10.20.
Arcos Dorados Company Profile
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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