Arcos Dorados Holdings Inc. (NYSE:ARCO – Get Rating) gapped up before the market opened on Wednesday following a dividend announcement from the company. The stock had previously closed at $8.03, but opened at $8.21. Arcos Dorados shares last traded at $7.68, with a volume of 295,481 shares trading hands.
The newly announced dividend which will be paid on Wednesday, December 27th. Shareholders of record on Friday, December 22nd will be given a $0.05 dividend. The ex-dividend date is Thursday, December 21st. This represents a $0.20 annualized dividend and a yield of 2.52%. Arcos Dorados’s dividend payout ratio is 19.05%.
Wall Street Analyst Weigh In
Several analysts have issued reports on ARCO shares. StockNews.com started coverage on shares of Arcos Dorados in a research report on Thursday. They issued a “strong-buy” rating on the stock. Barclays raised their price target on shares of Arcos Dorados from $9.00 to $10.00 and gave the stock an “overweight” rating in a research report on Monday, February 6th. One research analyst has rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Buy” and an average target price of $10.00.
Arcos Dorados Stock Up 1.4 %
Hedge Funds Weigh In On Arcos Dorados
Hedge funds and other institutional investors have recently made changes to their positions in the business. Wells Fargo & Company MN lifted its holdings in shares of Arcos Dorados by 34.9% during the 4th quarter. Wells Fargo & Company MN now owns 7,358 shares of the restaurant operator’s stock worth $62,000 after acquiring an additional 1,902 shares during the period. Lazard Asset Management LLC bought a new position in Arcos Dorados during the 3rd quarter valued at about $71,000. Baker Ellis Asset Management LLC bought a new position in Arcos Dorados during the 4th quarter valued at about $92,000. Americana Partners LLC bought a new position in Arcos Dorados during the 4th quarter valued at about $94,000. Finally, Petrus Trust Company LTA bought a new position in Arcos Dorados during the 3rd quarter valued at about $89,000. 36.56% of the stock is owned by institutional investors.
About Arcos Dorados
Arcos Dorados Holdings, Inc engages in the operation of restaurants. The firm operates and franchises McDonald’s restaurants in the food services industry through its subsidiaries. It operates through the following geographical segments: Brazil, Caribbean Division, North Latin America division (NOLAD), and South Latin America division (SLAD).
- Get a free copy of the StockNews.com research report on Arcos Dorados (ARCO)
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