109,882 Shares in Arcos Dorados Holdings Inc. $ARCO Acquired by ABS Direct Equity Fund LLC

ABS Direct Equity Fund LLC bought a new stake in shares of Arcos Dorados Holdings Inc. (NYSE:ARCO) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 109,882 shares of the restaurant operator’s stock, valued at approximately $907,000. ABS Direct Equity Fund LLC owned about 0.05% of Arcos Dorados as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of ARCO. Royal Bank of Canada increased its position in Arcos Dorados by 23.1% during the 1st quarter. Royal Bank of Canada now owns 538,925 shares of the restaurant operator’s stock valued at $4,344,000 after buying an additional 101,301 shares in the last quarter. Jane Street Group LLC grew its stake in shares of Arcos Dorados by 58.3% during the first quarter. Jane Street Group LLC now owns 309,785 shares of the restaurant operator’s stock worth $2,497,000 after acquiring an additional 114,034 shares during the last quarter. Jump Financial LLC acquired a new position in shares of Arcos Dorados during the second quarter valued at about $1,315,000. WINTON GROUP Ltd increased its holdings in shares of Arcos Dorados by 213.3% during the second quarter. WINTON GROUP Ltd now owns 50,077 shares of the restaurant operator’s stock valued at $395,000 after acquiring an additional 34,094 shares in the last quarter. Finally, Nebula Research & Development LLC raised its position in shares of Arcos Dorados by 6.3% in the 2nd quarter. Nebula Research & Development LLC now owns 166,767 shares of the restaurant operator’s stock valued at $1,316,000 after purchasing an additional 9,892 shares during the last quarter. 55.91% of the stock is currently owned by institutional investors and hedge funds.

Arcos Dorados Stock Performance

ARCO opened at $8.22 on Monday. The company has a market cap of $1.73 billion, a price-to-earnings ratio of 7.41 and a beta of 0.48. Arcos Dorados Holdings Inc. has a 52-week low of $6.51 and a 52-week high of $9.75. The firm’s fifty day simple moving average is $8.42 and its two-hundred day simple moving average is $8.37. The company has a quick ratio of 0.73, a current ratio of 0.80 and a debt-to-equity ratio of 1.25.

Arcos Dorados (NYSE:ARCO) last issued its quarterly earnings results on Thursday, May 21st. The restaurant operator reported $0.17 EPS for the quarter, topping the consensus estimate of $0.11 by $0.06. The firm had revenue of $1.22 billion during the quarter, compared to analysts’ expectations of $1.21 billion. Arcos Dorados had a return on equity of 10.47% and a net margin of 4.86%.The firm’s revenue for the quarter was up 12.9% on a year-over-year basis. During the same period in the previous year, the business earned $0.07 earnings per share. Equities analysts anticipate that Arcos Dorados Holdings Inc. will post 0.76 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the stock. Wall Street Zen raised shares of Arcos Dorados from a “hold” rating to a “buy” rating in a research report on Saturday, May 23rd. Weiss Ratings cut shares of Arcos Dorados from a “hold (c+)” rating to a “hold (c)” rating in a report on Monday, June 29th. The Goldman Sachs Group reiterated a “buy” rating on shares of Arcos Dorados in a research note on Wednesday, April 8th. Santander raised shares of Arcos Dorados to an “outperform” rating in a report on Monday, April 20th. Finally, JPMorgan Chase & Co. upgraded Arcos Dorados from a “neutral” rating to an “overweight” rating and raised their price objective for the stock from $9.00 to $10.50 in a research note on Friday, July 17th. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, Arcos Dorados currently has an average rating of “Buy” and an average target price of $10.50.

Arcos Dorados Company Profile

Arcos Dorados Holdings Inc is the largest independent McDonald’s franchisee in the world, operating under an exclusive license agreement with McDonald’s Corporation. The company develops, owns and operates quick-service restaurants, offering the full McDonald’s menu, including hamburgers, chicken sandwiches, salads, sides, desserts and McCafé beverages. In addition to restaurant operations, Arcos Dorados manages supply chain logistics, property development, training and support services for its franchise network.

Headquartered in Montevideo, Uruguay, Arcos Dorados serves 20 markets across Latin America and the Caribbean, including Argentina, Brazil, Chile, Colombia, Mexico, Puerto Rico and Uruguay.