Kora Management LP lowered its stake in shares of Arcos Dorados Holdings Inc. (NYSE:ARCO) by 10.0% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,976,643 shares of the restaurant operator’s stock after selling 220,000 shares during the quarter. Arcos Dorados Holdings makes up about 9.4% of Kora Management LP’s holdings, making the stock its 5th biggest position. Kora Management LP owned 0.94% of Arcos Dorados Holdings worth $14,726,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in ARCO. Teachers Advisors LLC grew its position in shares of Arcos Dorados Holdings by 30.0% during the second quarter. Teachers Advisors LLC now owns 10,684,536 shares of the restaurant operator’s stock worth $79,600,000 after acquiring an additional 2,465,110 shares during the last quarter. Acadian Asset Management LLC grew its position in shares of Arcos Dorados Holdings by 38.9% during the second 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 last quarter. Glen Point Capital LLP purchased a new position in shares of Arcos Dorados Holdings during the second quarter worth approximately $6,164,000. Renaissance Technologies LLC grew its position in shares of Arcos Dorados Holdings by 299.9% during the first 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 last quarter. Finally, William Blair Investment Management LLC purchased a new position in shares of Arcos Dorados Holdings during the second quarter worth approximately $3,863,000. 36.65% of the stock is currently owned by institutional investors.

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A number of equities analysts have recently issued reports on the stock. Zacks Investment Research lowered shares of Arcos Dorados Holdings from a “buy” rating to a “hold” rating in a research report on Tuesday, July 4th. BidaskClub upgraded shares of Arcos Dorados Holdings from a “hold” rating to a “buy” rating in a research report on Wednesday, July 12th. ValuEngine lowered shares of Arcos Dorados Holdings from a “buy” rating to a “hold” rating in a research report on Tuesday, July 11th. Finally, Citigroup Inc. upgraded shares of Arcos Dorados Holdings from a “neutral” rating to a “buy” rating and raised their target price for the stock from $10.10 to $10.60 in a research report on Monday, August 28th. Two investment analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the stock. Arcos Dorados Holdings presently has a consensus rating of “Buy” and an average price target of $9.53.

Shares of Arcos Dorados Holdings Inc. (NYSE:ARCO) traded down 1.49% during trading on Thursday, hitting $9.90. 188,378 shares of the stock were exchanged. Arcos Dorados Holdings Inc. has a one year low of $5.20 and a one year high of $10.35. The stock’s 50 day moving average price is $9.29 and its 200 day moving average price is $8.56. The stock has a market cap of $2.09 billion, a PE ratio of 38.08 and a beta of 2.15.

Arcos Dorados Holdings (NYSE:ARCO) last posted its quarterly earnings results on Wednesday, August 9th. The restaurant operator reported ($0.02) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.10 by ($0.12). The firm had revenue of $798.70 million for the quarter. Arcos Dorados Holdings had a net margin of 1.76% and a return on equity of 14.68%. Equities research analysts predict that Arcos Dorados Holdings Inc. will post $0.39 EPS for the current year.

Arcos Dorados Holdings 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.

Institutional Ownership by Quarter for Arcos Dorados Holdings (NYSE:ARCO)

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