HBK Sorce Advisory LLC Decreases Stock Position in Arcos Dorados Holdings Inc. (NYSE:ARCO)

HBK Sorce Advisory LLC lessened its position in shares of Arcos Dorados Holdings Inc. (NYSE:ARCO) by 15.8% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 13,478 shares of the restaurant operator’s stock after selling 2,535 shares during the period. HBK Sorce Advisory LLC’s holdings in Arcos Dorados were worth $121,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Perpetual Ltd purchased a new stake in Arcos Dorados during the first quarter valued at about $49,647,000. Private Management Group Inc. lifted its stake in shares of Arcos Dorados by 7.0% during the 2nd quarter. Private Management Group Inc. now owns 2,168,504 shares of the restaurant operator’s stock valued at $19,517,000 after buying an additional 141,784 shares in the last quarter. Absolute Gestao de Investimentos Ltda. bought a new position in Arcos Dorados in the 1st quarter worth approximately $22,586,000. BNP Paribas Financial Markets grew its stake in Arcos Dorados by 2.4% in the 1st quarter. BNP Paribas Financial Markets now owns 1,612,824 shares of the restaurant operator’s stock valued at $17,935,000 after buying an additional 37,218 shares in the last quarter. Finally, TimesSquare Capital Management LLC lifted its position in shares of Arcos Dorados by 25.8% during the first quarter. TimesSquare Capital Management LLC now owns 1,466,000 shares of the restaurant operator’s stock worth $16,302,000 after acquiring an additional 301,020 shares in the last quarter. Institutional investors own 55.91% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on ARCO shares. StockNews.com lowered Arcos Dorados from a “buy” rating to a “hold” rating in a research note on Friday, May 24th. JPMorgan Chase & Co. decreased their price target on Arcos Dorados from $14.00 to $12.00 and set an “overweight” rating on the stock in a research report on Friday.

Arcos Dorados Stock Performance

Shares of ARCO opened at $8.48 on Monday. The company has a current ratio of 0.63, a quick ratio of 0.57 and a debt-to-equity ratio of 1.52. The stock has a 50-day moving average price of $9.27 and a 200-day moving average price of $10.05. The company has a market cap of $1.79 billion, a PE ratio of 10.47, a price-to-earnings-growth ratio of 2.34 and a beta of 1.17. Arcos Dorados Holdings Inc. has a 12-month low of $8.08 and a 12-month high of $13.20.

Arcos Dorados (NYSE:ARCO) last released its quarterly earnings results on Wednesday, August 14th. The restaurant operator reported $0.13 EPS for the quarter, hitting analysts’ consensus estimates of $0.13. The business had revenue of $1.11 billion during the quarter, compared to analysts’ expectations of $1.06 billion. Arcos Dorados had a net margin of 3.80% and a return on equity of 36.55%. The business’s quarterly revenue was up 6.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.14 EPS. As a group, equities analysts forecast that Arcos Dorados Holdings Inc. will post 0.73 earnings per share for the current fiscal 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.