River & Mercantile Asset Management LLP Grows Holdings in Arcos Dorados Holding Inc (ARCO)
River & Mercantile Asset Management LLP boosted its position in shares of Arcos Dorados Holding Inc (NYSE:ARCO) by 10.0% in the third quarter, HoldingsChannel reports. The firm owned 845,707 shares of the restaurant operator’s stock after acquiring an additional 76,582 shares during the period. River & Mercantile Asset Management LLP’s holdings in Arcos Dorados were worth $5,307,000 as of its most recent SEC filing.
A number of other hedge funds have also recently added to or reduced their stakes in ARCO. Rational Advisors LLC bought a new position in Arcos Dorados during the 2nd quarter worth about $124,000. Eqis Capital Management Inc. bought a new position in Arcos Dorados during the 2nd quarter worth about $237,000. Engineers Gate Manager LP increased its holdings in Arcos Dorados by 90.7% during the 2nd quarter. Engineers Gate Manager LP now owns 68,559 shares of the restaurant operator’s stock worth $476,000 after purchasing an additional 32,614 shares in the last quarter. Jane Street Group LLC bought a new position in Arcos Dorados during the 2nd quarter worth about $511,000. Finally, Fondren Management LP bought a new position in Arcos Dorados during the 2nd quarter worth about $521,000. Hedge funds and other institutional investors own 36.37% of the company’s stock.
A number of equities analysts have issued reports on ARCO shares. TheStreet upgraded Arcos Dorados from a “c+” rating to a “b-” rating in a report on Monday, November 26th. Zacks Investment Research upgraded Arcos Dorados from a “sell” rating to a “hold” rating in a report on Tuesday, October 9th. ValuEngine cut Arcos Dorados from a “sell” rating to a “strong sell” rating in a report on Wednesday, September 12th. Finally, Bank of America began coverage on Arcos Dorados in a report on Monday, October 22nd. They issued a “buy” rating for the company.
Arcos Dorados (NYSE:ARCO) last announced its quarterly earnings data on Wednesday, November 14th. The restaurant operator reported $0.12 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.09 by $0.03. The company had revenue of $724.37 million during the quarter. Arcos Dorados had a return on equity of 21.96% and a net margin of 3.00%. As a group, sell-side analysts forecast that Arcos Dorados Holding Inc will post 0.28 EPS for the current fiscal year.
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Arcos Dorados Profile
Arcos Dorados Holdings Inc operates as a franchisee of McDonald's restaurants. It has the exclusive right to own, operate, and grant franchises of McDonald's restaurants in 20 countries and territories in Latin America and the Caribbean, including Argentina, Aruba, Brazil, Chile, Colombia, Costa Rica, Curaçao, Ecuador, French Guiana, Guadeloupe, Martinique, Mexico, Panama, Peru, Puerto Rico, Trinidad and Tobago, Uruguay, the United States Virgin Islands of St.
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