Arcos Dorados Holdings Inc. (NYSE:ARCO) Holdings Cut by Black Creek Investment Management Inc.

Black Creek Investment Management Inc. decreased its stake in Arcos Dorados Holdings Inc. (NYSE:ARCO) by 26.9% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 190,000 shares of the restaurant operator’s stock after selling 70,000 shares during the quarter. Arcos Dorados makes up about 0.1% of Black Creek Investment Management Inc.’s holdings, making the stock its 29th biggest position. Black Creek Investment Management Inc. owned approximately 0.09% of Arcos Dorados worth $1,948,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in ARCO. Allspring Global Investments Holdings LLC lifted its stake in shares of Arcos Dorados by 5.2% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 505,230 shares of the restaurant operator’s stock valued at $5,179,000 after purchasing an additional 25,074 shares during the last quarter. Calamos Advisors LLC lifted its position in Arcos Dorados by 42.4% during the 1st quarter. Calamos Advisors LLC now owns 105,115 shares of the restaurant operator’s stock worth $810,000 after acquiring an additional 31,281 shares during the last quarter. DGS Capital Management LLC lifted its position in Arcos Dorados by 4.5% during the 1st quarter. DGS Capital Management LLC now owns 50,113 shares of the restaurant operator’s stock worth $386,000 after acquiring an additional 2,157 shares during the last quarter. MQS Management LLC acquired a new position in Arcos Dorados during the 1st quarter worth $106,000. Finally, Janney Montgomery Scott LLC acquired a new position in Arcos Dorados during the 1st quarter worth $420,000. Hedge funds and other institutional investors own 36.34% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. JPMorgan Chase & Co. boosted their target price on shares of Arcos Dorados from $10.00 to $13.00 and gave the stock an “overweight” rating in a research report on Thursday, August 10th. Barclays boosted their price objective on shares of Arcos Dorados from $10.00 to $13.50 and gave the stock an “overweight” rating in a report on Monday, August 7th. Finally, StockNews.com downgraded shares of Arcos Dorados from a “buy” rating to a “hold” rating in a report on Monday.

Arcos Dorados Price Performance

NYSE ARCO traded up $0.15 on Wednesday, reaching $10.25. The company’s stock had a trading volume of 189,852 shares, compared to its average volume of 966,305. The firm has a market cap of $2.16 billion, a PE ratio of 12.79, a price-to-earnings-growth ratio of 1.08 and a beta of 1.18. The business has a 50-day moving average price of $9.57 and a 200 day moving average price of $9.68. Arcos Dorados Holdings Inc. has a 52 week low of $7.01 and a 52 week high of $11.47. The company has a current ratio of 0.79, a quick ratio of 0.73 and a debt-to-equity ratio of 1.76.

Arcos Dorados (NYSE:ARCO) last posted its earnings results on Thursday, August 17th. The restaurant operator reported $0.14 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.14. The business had revenue of $1.04 billion for the quarter, compared to analysts’ expectations of $1.03 billion. Arcos Dorados had a net margin of 4.21% and a return on equity of 51.64%. During the same quarter in the previous year, the firm posted $0.07 earnings per share. Sell-side analysts expect that Arcos Dorados Holdings Inc. will post 0.78 EPS for the current year.

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.