14,390 Shares in Arcos Dorados Holdings Inc. (ARCO) Acquired by Stevens Capital Management LP
Stevens Capital Management LP acquired a new position in shares of Arcos Dorados Holdings Inc. (NYSE:ARCO) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 14,390 shares of the restaurant operator’s stock, valued at approximately $107,000.
A number of other large investors have also recently bought and sold shares of the business. Teachers Advisors LLC boosted its stake in Arcos Dorados Holdings by 30.0% in the second quarter. Teachers Advisors LLC now owns 10,684,536 shares of the restaurant operator’s stock valued at $79,600,000 after acquiring an additional 2,465,110 shares during the last quarter. Acadian Asset Management LLC grew its holdings in Arcos Dorados Holdings by 38.9% during the 2nd quarter. Acadian Asset Management LLC now owns 4,800,113 shares of the restaurant operator’s stock worth $35,761,000 after acquiring an additional 1,344,088 shares during the period. Glen Point Capital LLP acquired a new stake in Arcos Dorados Holdings during the 2nd quarter worth $6,164,000. Renaissance Technologies LLC grew its holdings in Arcos Dorados Holdings by 299.9% during the 1st quarter. Renaissance Technologies LLC now owns 953,439 shares of the restaurant operator’s stock worth $7,675,000 after acquiring an additional 714,999 shares during the period. Finally, Kora Management LP grew its holdings in Arcos Dorados Holdings by 46.8% during the 1st quarter. Kora Management LP now owns 2,196,643 shares of the restaurant operator’s stock worth $17,683,000 after acquiring an additional 700,000 shares during the period. 36.65% of the stock is currently owned by hedge funds and other institutional investors.
A number of brokerages recently weighed in on ARCO. Zacks Investment Research downgraded shares of Arcos Dorados Holdings from a “buy” rating to a “hold” rating in a research report on Friday, June 9th. BidaskClub cut shares of Arcos Dorados Holdings from a “strong-buy” rating to a “buy” rating in a report on Tuesday, June 13th. ValuEngine cut shares of Arcos Dorados Holdings from a “buy” rating to a “hold” rating in a report on Tuesday, July 11th. Finally, Citigroup Inc. raised shares of Arcos Dorados Holdings from a “neutral” rating to a “buy” rating and upped their target price for the company from $10.10 to $10.60 in a research note on Monday, August 28th. Two equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $9.28.
Shares of Arcos Dorados Holdings Inc. (NYSE:ARCO) opened at 10.25 on Wednesday. The stock’s 50 day moving average price is $9.25 and its 200-day moving average price is $8.55. The firm has a market cap of $2.16 billion, a price-to-earnings ratio of 39.42 and a beta of 2.15. Arcos Dorados Holdings Inc. has a 52-week low of $5.20 and a 52-week high of $10.35.
Arcos Dorados Holdings (NYSE:ARCO) last issued its quarterly earnings results on Wednesday, August 9th. The restaurant operator reported ($0.02) earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.10 by ($0.12). Arcos Dorados Holdings had a return on equity of 14.68% and a net margin of 1.76%. The business had revenue of $798.70 million for the quarter. On average, analysts forecast that Arcos Dorados Holdings Inc. will post $0.39 EPS for the current year.
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Arcos Dorados Holdings Company Profile
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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