Arcos Dorados Holdings Inc. (NYSE:ARCO) Stock Position Raised by Van ECK Associates Corp

Van ECK Associates Corp lifted its stake in shares of Arcos Dorados Holdings Inc. (NYSE:ARCO) by 6.3% during the third quarter, Holdings Channel reports. The firm owned 876,300 shares of the restaurant operator’s stock after purchasing an additional 52,289 shares during the quarter. Van ECK Associates Corp’s holdings in Arcos Dorados were worth $7,852,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the stock. Nordea Investment Management AB lifted its stake in Arcos Dorados by 33.5% during the first quarter. Nordea Investment Management AB now owns 458,355 shares of the restaurant operator’s stock valued at $5,129,000 after buying an additional 115,118 shares in the last quarter. TimesSquare Capital Management LLC boosted its stake in Arcos Dorados by 25.8% in the 1st quarter. TimesSquare Capital Management LLC now owns 1,466,000 shares of the restaurant operator’s stock worth $16,302,000 after purchasing an additional 301,020 shares during the period. Sei Investments Co. grew its position in Arcos Dorados by 7.9% during the 1st quarter. Sei Investments Co. now owns 148,038 shares of the restaurant operator’s stock worth $1,646,000 after purchasing an additional 10,895 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its holdings in shares of Arcos Dorados by 0.5% during the first quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 936,912 shares of the restaurant operator’s stock valued at $10,419,000 after buying an additional 4,418 shares in the last quarter. Finally, Banco BTG Pactual S.A. lifted its stake in Arcos Dorados by 36.3% in the 1st quarter. Banco BTG Pactual S.A. now owns 300,598 shares of the restaurant operator’s stock worth $3,343,000 after acquiring an additional 80,000 shares in the last quarter. 55.91% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Separately, JPMorgan Chase & Co. decreased their price target on shares of Arcos Dorados from $14.00 to $12.00 and set an “overweight” rating for the company in a report on Friday, September 13th.

Arcos Dorados Price Performance

Shares of NYSE:ARCO opened at $8.69 on Thursday. The company has a debt-to-equity ratio of 1.52, a current ratio of 0.63 and a quick ratio of 0.57. The stock has a market capitalization of $1.83 billion, a P/E ratio of 10.73, a P/E/G ratio of 2.58 and a beta of 1.16. The business has a 50-day moving average of $8.94 and a two-hundred day moving average of $9.49. Arcos Dorados Holdings Inc. has a fifty-two week low of $8.08 and a fifty-two week high of $13.20.

Arcos Dorados (NYSE:ARCO) last announced its earnings results on Wednesday, August 14th. The restaurant operator reported $0.13 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.13. Arcos Dorados had a return on equity of 36.55% and a net margin of 3.80%. The firm had revenue of $1.11 billion during the quarter, compared to analysts’ expectations of $1.06 billion. During the same quarter in the prior year, the business earned $0.14 earnings per share. The company’s revenue was up 6.8% on a year-over-year basis. On average, equities research analysts predict that Arcos Dorados Holdings Inc. will post 0.69 EPS for the current fiscal year.

About Arcos Dorados

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.