Pzena Investment Management LLC Increases Stake in Arcos Dorados Holdings Inc. $ARCO

Pzena Investment Management LLC raised its stake in Arcos Dorados Holdings Inc. (NYSE:ARCO) by 74.9% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 11,427,294 shares of the restaurant operator’s stock after purchasing an additional 4,893,812 shares during the quarter. Pzena Investment Management LLC owned 5.42% of Arcos Dorados worth $77,134,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Royal Bank of Canada raised its holdings in Arcos Dorados by 23.1% during the 1st quarter. Royal Bank of Canada now owns 538,925 shares of the restaurant operator’s stock valued at $4,344,000 after buying an additional 101,301 shares during the last quarter. Jane Street Group LLC increased its position in shares of Arcos Dorados by 58.3% in the first quarter. Jane Street Group LLC now owns 309,785 shares of the restaurant operator’s stock valued at $2,497,000 after acquiring an additional 114,034 shares during the period. Bleakley Financial Group LLC raised its stake in shares of Arcos Dorados by 3.9% during the second quarter. Bleakley Financial Group LLC now owns 215,971 shares of the restaurant operator’s stock valued at $1,704,000 after acquiring an additional 8,112 shares during the last quarter. R Squared Ltd boosted its holdings in shares of Arcos Dorados by 66.8% during the second quarter. R Squared Ltd now owns 19,681 shares of the restaurant operator’s stock worth $155,000 after purchasing an additional 7,881 shares during the period. Finally, Catalyst Capital Advisors LLC boosted its holdings in shares of Arcos Dorados by 6.4% during the second quarter. Catalyst Capital Advisors LLC now owns 170,090 shares of the restaurant operator’s stock worth $1,342,000 after purchasing an additional 10,250 shares during the period. Institutional investors own 55.91% of the company’s stock.

Arcos Dorados Trading Up 1.3%

ARCO opened at $8.47 on Thursday. The company has a debt-to-equity ratio of 1.32, a quick ratio of 0.81 and a current ratio of 0.89. Arcos Dorados Holdings Inc. has a 52 week low of $6.51 and a 52 week high of $8.97. The business has a 50 day moving average of $7.79 and a 200-day moving average of $7.33.

Analysts Set New Price Targets

A number of research analysts recently issued reports on ARCO shares. JPMorgan Chase & Co. reduced their price target on Arcos Dorados from $8.80 to $8.70 and set a “neutral” rating on the stock in a report on Tuesday, November 11th. Zacks Research raised Arcos Dorados from a “strong sell” rating to a “hold” rating in a research note on Friday, November 21st. Wall Street Zen upgraded Arcos Dorados from a “hold” rating to a “buy” rating in a report on Saturday, November 15th. Finally, Weiss Ratings reiterated a “hold (c-)” rating on shares of Arcos Dorados in a report on Monday, December 29th. Three equities research analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $8.70.

Arcos Dorados Profile

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.