Mirae Asset Global Investments Co. Ltd. Sells 220,355 Shares of Arcos Dorados Holdings Inc. (NYSE:ARCO)

Mirae Asset Global Investments Co. Ltd. decreased its stake in shares of Arcos Dorados Holdings Inc. (NYSE:ARCOFree Report) by 22.8% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 747,841 shares of the restaurant operator’s stock after selling 220,355 shares during the quarter. Mirae Asset Global Investments Co. Ltd. owned approximately 0.36% of Arcos Dorados worth $8,316,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in ARCO. Activest Wealth Management purchased a new stake in shares of Arcos Dorados in the first quarter valued at approximately $30,000. Navellier & Associates Inc. boosted its holdings in Arcos Dorados by 11.3% in the fourth quarter. Navellier & Associates Inc. now owns 15,050 shares of the restaurant operator’s stock valued at $191,000 after purchasing an additional 1,529 shares during the last quarter. Confluence Investment Management LLC purchased a new position in Arcos Dorados during the first quarter valued at approximately $192,000. HBK Sorce Advisory LLC boosted its position in Arcos Dorados by 29.0% in the 4th quarter. HBK Sorce Advisory LLC now owns 17,672 shares of the restaurant operator’s stock worth $224,000 after purchasing an additional 3,971 shares in the last quarter. Finally, Avantax Advisory Services Inc. acquired a new stake in shares of Arcos Dorados during the 4th quarter worth approximately $236,000. 55.91% of the stock is owned by hedge funds and other institutional investors.

Arcos Dorados Stock Performance

ARCO opened at $9.33 on Tuesday. The firm’s fifty day simple moving average is $9.85 and its two-hundred day simple moving average is $11.06. Arcos Dorados Holdings Inc. has a 52-week low of $8.59 and a 52-week high of $13.20. The company has a market cap of $1.97 billion, a price-to-earnings ratio of 11.52, a PEG ratio of 1.59 and a beta of 1.21. The company has a quick ratio of 0.60, a current ratio of 0.66 and a debt-to-equity ratio of 1.47.

Arcos Dorados (NYSE:ARCOGet Free Report) last posted its quarterly earnings data on Wednesday, May 15th. The restaurant operator reported $0.14 EPS for the quarter, missing the consensus estimate of $0.16 by ($0.02). The firm had revenue of $1.10 billion for the quarter, compared to analysts’ expectations of $1.02 billion. Arcos Dorados had a return on equity of 38.57% and a net margin of 3.90%. Arcos Dorados’s quarterly revenue was up 11.0% on a year-over-year basis. During the same quarter last year, the firm posted $0.18 earnings per share. Equities analysts anticipate that Arcos Dorados Holdings Inc. will post 0.88 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Separately, StockNews.com lowered shares of Arcos Dorados from a “buy” rating to a “hold” rating in a research report on Friday, May 24th. One equities research analyst has rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Arcos Dorados currently has a consensus rating of “Moderate Buy” and a consensus target price of $13.83.

Check Out Our Latest Research Report on Arcos Dorados

Arcos Dorados Company Profile

(Free Report)

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

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