Pzena Investment Management LLC Has $88.61 Million Stock Holdings in Arcos Dorados Holdings Inc. $ARCO

Pzena Investment Management LLC boosted its position in Arcos Dorados Holdings Inc. (NYSE:ARCO) by 1.7% during the 1st quarter, Holdings Channel.com reports. The fund owned 10,741,166 shares of the restaurant operator’s stock after buying an additional 178,602 shares during the quarter. Pzena Investment Management LLC owned about 0.05% of Arcos Dorados worth $88,615,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Quantbot Technologies LP lifted its position in Arcos Dorados by 1,472,528.6% during the 3rd quarter. Quantbot Technologies LP now owns 103,084 shares of the restaurant operator’s stock valued at $696,000 after purchasing an additional 103,077 shares during the period. Hussman Strategic Advisors Inc. acquired a new stake in shares of Arcos Dorados during the 4th quarter worth approximately $771,000. Dumac Inc. acquired a new stake in shares of Arcos Dorados during the 4th quarter worth approximately $447,000. Fideuram Asset Management Ireland dac bought a new stake in shares of Arcos Dorados during the fourth quarter worth approximately $771,000. Finally, Private Management Group Inc. raised its stake in shares of Arcos Dorados by 6.2% during the third quarter. Private Management Group Inc. now owns 3,379,280 shares of the restaurant operator’s stock worth $22,810,000 after buying an additional 196,282 shares during the last quarter. 55.91% of the stock is currently owned by institutional investors and hedge funds.

Arcos Dorados Trading Down 0.1%

NYSE ARCO opened at $8.05 on Thursday. The firm has a market cap of $1.70 billion, a P/E ratio of 7.25 and a beta of 0.48. The company has a debt-to-equity ratio of 1.25, a current ratio of 0.80 and a quick ratio of 0.73. The stock’s 50-day moving average is $8.63 and its 200-day moving average is $8.26. Arcos Dorados Holdings Inc. has a one year low of $6.51 and a one year high of $9.75.

Arcos Dorados (NYSE:ARCO) last issued its quarterly earnings data on Wednesday, May 20th. The restaurant operator reported $0.17 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.11 by $0.06. Arcos Dorados had a return on equity of 10.47% and a net margin of 4.86%.The business had revenue of $1.22 billion during the quarter, compared to analyst estimates of $1.21 billion. During the same period in the previous year, the firm earned $0.07 EPS. Arcos Dorados’s quarterly revenue was up 12.9% compared to the same quarter last year. Sell-side analysts anticipate that Arcos Dorados Holdings Inc. will post 0.73 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on ARCO shares. Santander raised shares of Arcos Dorados to an “outperform” rating in a research note on Monday, April 20th. Weiss Ratings cut shares of Arcos Dorados from a “hold (c+)” rating to a “hold (c)” rating in a research report on Monday. The Goldman Sachs Group reissued a “buy” rating on shares of Arcos Dorados in a research note on Wednesday, April 8th. Finally, Wall Street Zen upgraded Arcos Dorados from a “hold” rating to a “buy” rating in a research report on Saturday, May 23rd. Two equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $8.70.

About Arcos Dorados

Arcos Dorados Holdings Inc is the largest independent McDonald’s franchisee in the world, operating under an exclusive license agreement with McDonald’s Corporation. The company develops, owns and operates quick-service restaurants, offering the full McDonald’s menu, including hamburgers, chicken sandwiches, salads, sides, desserts and McCafé beverages. In addition to restaurant operations, Arcos Dorados manages supply chain logistics, property development, training and support services for its franchise network.

Headquartered in Montevideo, Uruguay, Arcos Dorados serves 20 markets across Latin America and the Caribbean, including Argentina, Brazil, Chile, Colombia, Mexico, Puerto Rico and Uruguay.