Allspring Global Investments Holdings LLC boosted its position in shares of Arcos Dorados Holdings Inc. (NYSE:ARCO – Free Report) by 5.2% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 505,230 shares of the restaurant operator’s stock after acquiring an additional 25,074 shares during the period. Allspring Global Investments Holdings LLC owned 0.24% of Arcos Dorados worth $5,179,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds and other institutional investors also recently bought and sold shares of ARCO. Financial Management Professionals Inc. purchased a new position in shares of Arcos Dorados in the second quarter worth $40,000. Quarry LP raised its holdings in shares of Arcos Dorados by 607.6% in the first quarter. Quarry LP now owns 4,260 shares of the restaurant operator’s stock worth $33,000 after buying an additional 3,658 shares during the last quarter. Spire Wealth Management raised its holdings in shares of Arcos Dorados by 48.2% in the first quarter. Spire Wealth Management now owns 6,150 shares of the restaurant operator’s stock worth $47,000 after buying an additional 2,000 shares during the last quarter. Tower Research Capital LLC TRC raised its holdings in shares of Arcos Dorados by 256.2% in the first quarter. Tower Research Capital LLC TRC now owns 6,640 shares of the restaurant operator’s stock worth $51,000 after buying an additional 4,776 shares during the last quarter. Finally, Wells Fargo & Company MN raised its holdings in shares of Arcos Dorados by 34.9% in the fourth quarter. Wells Fargo & Company MN now owns 7,358 shares of the restaurant operator’s stock worth $62,000 after buying an additional 1,902 shares during the last quarter. Hedge funds and other institutional investors own 36.34% of the company’s stock.
Analyst Ratings Changes
A number of research firms have recently weighed in on ARCO. Barclays increased their price objective on shares of Arcos Dorados from $10.00 to $13.50 and gave the stock an “overweight” rating in a research note on Monday, August 7th. JPMorgan Chase & Co. increased their price objective on shares of Arcos Dorados from $10.00 to $13.00 and gave the stock an “overweight” rating in a research note on Thursday, August 10th. Finally, StockNews.com began coverage on shares of Arcos Dorados in a research note on Thursday, October 5th. They issued a “buy” rating on the stock.
Arcos Dorados Stock Up 1.5 %
ARCO stock opened at $9.95 on Friday. The firm has a market cap of $2.10 billion, a PE ratio of 12.60, a P/E/G ratio of 1.06 and a beta of 1.18. The company has a debt-to-equity ratio of 1.76, a quick ratio of 0.73 and a current ratio of 0.79. The firm’s fifty day moving average is $9.59 and its 200 day moving average is $9.56. Arcos Dorados Holdings Inc. has a one year low of $6.73 and a one year high of $11.47.
Arcos Dorados (NYSE:ARCO – Get Free Report) last released its quarterly earnings results on Thursday, August 17th. The restaurant operator reported $0.14 EPS for the quarter, meeting the consensus estimate of $0.14. The company had revenue of $1.04 billion for the quarter, compared to analyst estimates of $1.03 billion. Arcos Dorados had a net margin of 4.21% and a return on equity of 51.64%. During the same quarter last year, the business earned $0.07 earnings per share. On average, research analysts forecast that Arcos Dorados Holdings Inc. will post 0.78 EPS for the current year.
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, Curacao, Ecuador, French Guiana, Guadeloupe, Martinique, Mexico, Panama, Peru, Puerto Rico, Trinidad and Tobago, Uruguay, the U.S.
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