State of New Jersey Common Pension Fund D Has $386,000 Holdings in Arcos Dorados Holdings Inc. (NYSE:ARCO)

State of New Jersey Common Pension Fund D decreased its position in shares of Arcos Dorados Holdings Inc. (NYSE:ARCO) by 77.9% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 42,851 shares of the restaurant operator’s stock after selling 150,609 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Arcos Dorados were worth $386,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Americana Partners LLC lifted its position in Arcos Dorados by 15.0% during the 2nd quarter. Americana Partners LLC now owns 17,204 shares of the restaurant operator’s stock valued at $155,000 after purchasing an additional 2,240 shares during the period. Blue Trust Inc. boosted its stake in Arcos Dorados by 24.6% in the second quarter. Blue Trust Inc. now owns 12,307 shares of the restaurant operator’s stock valued at $111,000 after acquiring an additional 2,427 shares during the last quarter. Lazard Asset Management LLC raised its position in shares of Arcos Dorados by 35.4% during the 1st quarter. Lazard Asset Management LLC now owns 11,557 shares of the restaurant operator’s stock valued at $128,000 after acquiring an additional 3,022 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its stake in shares of Arcos Dorados by 0.5% in the 1st quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 936,912 shares of the restaurant operator’s stock valued at $10,419,000 after purchasing an additional 4,418 shares during the period. Finally, Oliver Luxxe Assets LLC grew its stake in shares of Arcos Dorados by 10.5% during the fourth quarter. Oliver Luxxe Assets LLC now owns 54,138 shares of the restaurant operator’s stock worth $687,000 after purchasing an additional 5,137 shares during the period. Institutional investors own 55.91% of the company’s stock.

Arcos Dorados Stock Down 2.7 %

Shares of Arcos Dorados stock opened at $8.23 on Thursday. Arcos Dorados Holdings Inc. has a 1 year low of $8.08 and a 1 year high of $13.20. The company has a debt-to-equity ratio of 1.52, a current ratio of 0.63 and a quick ratio of 0.57. The company has a market capitalization of $1.73 billion, a P/E ratio of 10.16, a price-to-earnings-growth ratio of 2.47 and a beta of 1.17. The business has a 50-day moving average of $9.07 and a two-hundred day moving average of $9.87.

Arcos Dorados (NYSE:ARCO) last announced its earnings results on Wednesday, August 14th. The restaurant operator reported $0.13 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.13. The firm had revenue of $1.11 billion during the quarter, compared to analyst estimates of $1.06 billion. Arcos Dorados had a net margin of 3.80% and a return on equity of 36.55%. During the same period in the prior year, the business earned $0.14 EPS. The company’s revenue for the quarter was up 6.8% compared to the same quarter last year. As a group, equities analysts predict that Arcos Dorados Holdings Inc. will post 0.7 EPS for the current year.

Analysts Set New Price Targets

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

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.