Arcos Dorados Holdings Inc. (NYSE:ARCO) Stake Boosted by Hedges Asset Management LLC

Hedges Asset Management LLC raised its position in shares of Arcos Dorados Holdings Inc. (NYSE:ARCO) by 18.8% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 331,500 shares of the restaurant operator’s stock after acquiring an additional 52,500 shares during the quarter. Arcos Dorados makes up approximately 1.9% of Hedges Asset Management LLC’s holdings, making the stock its 9th largest position. Hedges Asset Management LLC’s holdings in Arcos Dorados were worth $2,891,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. Private Management Group Inc. increased its position in Arcos Dorados by 7.0% during the 2nd quarter. Private Management Group Inc. now owns 2,168,504 shares of the restaurant operator’s stock valued at $19,517,000 after buying an additional 141,784 shares in the last quarter. Absolute Gestao de Investimentos Ltda. bought a new position in Arcos Dorados in the 1st quarter worth about $22,586,000. Fourth Sail Capital LP purchased a new stake in Arcos Dorados during the 2nd quarter valued at about $16,463,000. Perpetual Ltd increased its stake in Arcos Dorados by 15.8% during the 3rd quarter. Perpetual Ltd now owns 1,636,470 shares of the restaurant operator’s stock valued at $14,270,000 after purchasing an additional 223,496 shares in the last quarter. Finally, BNP Paribas Financial Markets raised its holdings in Arcos Dorados by 2.4% in the first quarter. BNP Paribas Financial Markets now owns 1,612,824 shares of the restaurant operator’s stock worth $17,935,000 after buying an additional 37,218 shares during the last quarter. Institutional investors own 55.91% of the company’s stock.

Arcos Dorados Price Performance

Shares of NYSE:ARCO opened at $8.96 on Monday. The business has a 50-day simple moving average of $8.98 and a two-hundred day simple moving average of $9.59. The company has a debt-to-equity ratio of 1.52, a quick ratio of 0.57 and a current ratio of 0.63. The firm has a market cap of $1.89 billion, a price-to-earnings ratio of 11.06, a price-to-earnings-growth ratio of 2.86 and a beta of 1.17. Arcos Dorados Holdings Inc. has a fifty-two week low of $8.08 and a fifty-two week high of $13.20.

Arcos Dorados (NYSE:ARCO) last issued its earnings results on Wednesday, August 14th. The restaurant operator reported $0.13 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.13. The company had revenue of $1.11 billion for the quarter, compared to analysts’ expectations of $1.06 billion. Arcos Dorados had a net margin of 3.80% and a return on equity of 36.55%. The firm’s quarterly revenue was up 6.8% on a year-over-year basis. During the same quarter last year, the company posted $0.14 earnings per share. On average, analysts expect that Arcos Dorados Holdings Inc. will post 0.69 earnings per share for the current year.

Analysts Set New Price Targets

Separately, JPMorgan Chase & Co. reduced their price target on shares of Arcos Dorados from $14.00 to $12.00 and set an “overweight” rating for the company in a research report on Friday, September 13th.

Arcos Dorados Company 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, Curacao, Ecuador, French Guiana, Guadeloupe, Martinique, Mexico, Panama, Peru, Puerto Rico, Trinidad and Tobago, Uruguay, the U.S.