Perpetual Ltd Grows Stock Position in Arcos Dorados Holdings Inc. (NYSE:ARCO)

Perpetual Ltd grew its holdings in shares of Arcos Dorados Holdings Inc. (NYSE:ARCOFree Report) by 15.8% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,636,470 shares of the restaurant operator’s stock after purchasing an additional 223,496 shares during the quarter. Perpetual Ltd owned approximately 0.78% of Arcos Dorados worth $14,270,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Quarry LP grew its holdings in Arcos Dorados by 431.0% during the 2nd quarter. Quarry LP now owns 3,239 shares of the restaurant operator’s stock valued at $29,000 after buying an additional 2,629 shares in the last quarter. Bank of New York Mellon Corp purchased a new stake in Arcos Dorados during the 2nd quarter valued at approximately $93,000. nVerses Capital LLC purchased a new stake in Arcos Dorados during the 2nd quarter valued at approximately $105,000. Adalta Capital Management LLC purchased a new stake in Arcos Dorados during the 1st quarter valued at approximately $111,000. Finally, Blue Trust Inc. grew its holdings in Arcos Dorados by 24.6% during the 2nd quarter. Blue Trust Inc. now owns 12,307 shares of the restaurant operator’s stock valued at $111,000 after buying an additional 2,427 shares in the last quarter. 55.91% of the stock is owned by hedge funds and other institutional investors.

Arcos Dorados Stock Up 0.3 %

Shares of ARCO opened at $9.43 on Thursday. The company has a market capitalization of $1.99 billion, a PE ratio of 11.64, a price-to-earnings-growth ratio of 2.47 and a beta of 1.17. The company has a quick ratio of 0.57, a current ratio of 0.63 and a debt-to-equity ratio of 1.52. Arcos Dorados Holdings Inc. has a 52-week low of $8.08 and a 52-week high of $13.20. The stock has a fifty day simple moving average of $9.03 and a two-hundred day simple moving average of $9.73.

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

Wall Street Analyst Weigh In

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 report on Friday, September 13th.

Read Our Latest Research Report on ARCO

About Arcos Dorados

(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.

Further Reading

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

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