Ameriprise Financial Inc. Purchases Shares of 122,197 Arcos Dorados Holding Inc (ARCO)
Ameriprise Financial Inc. purchased a new stake in Arcos Dorados Holding Inc (NYSE:ARCO) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 122,197 shares of the restaurant operator’s stock, valued at approximately $1,228,000.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Stratos Wealth Partners LTD. bought a new stake in shares of Arcos Dorados in the third quarter valued at approximately $110,000. Stevens Capital Management LP bought a new stake in shares of Arcos Dorados in the second quarter valued at approximately $107,000. Moors & Cabot Inc. raised its position in shares of Arcos Dorados by 4.9% in the second quarter. Moors & Cabot Inc. now owns 21,250 shares of the restaurant operator’s stock valued at $159,000 after purchasing an additional 1,000 shares during the period. Wells Fargo & Company MN grew its stake in Arcos Dorados by 2.4% during the second quarter. Wells Fargo & Company MN now owns 24,201 shares of the restaurant operator’s stock valued at $180,000 after acquiring an additional 570 shares in the last quarter. Finally, Virtu KCG Holdings LLC grew its stake in Arcos Dorados by 56.3% during the second quarter. Virtu KCG Holdings LLC now owns 51,429 shares of the restaurant operator’s stock valued at $383,000 after acquiring an additional 18,534 shares in the last quarter. 36.59% of the stock is currently owned by institutional investors.
ARCO has been the subject of several recent analyst reports. Zacks Investment Research raised shares of Arcos Dorados from a “hold” rating to a “buy” rating and set a $12.00 price objective for the company in a research note on Friday, November 10th. BidaskClub raised shares of Arcos Dorados from a “buy” rating to a “strong-buy” rating in a research note on Thursday, September 14th. HSBC initiated coverage on shares of Arcos Dorados in a research note on Wednesday, November 15th. They set a “buy” rating and a $12.00 price objective for the company. Finally, TheStreet raised shares of Arcos Dorados from a “c+” rating to a “b” rating in a research note on Tuesday, November 21st. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $10.90.
Arcos Dorados Holding Inc (NYSE ARCO) opened at $9.30 on Thursday. The company has a market cap of $1,960.00, a P/E ratio of 24.47, a P/E/G ratio of 2.21 and a beta of 2.04. Arcos Dorados Holding Inc has a 12 month low of $5.55 and a 12 month high of $10.80. The company has a debt-to-equity ratio of 1.45, a quick ratio of 0.89 and a current ratio of 0.99.
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Arcos Dorados 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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