BNP Paribas Financial Markets Sells 87,219 Shares of Arcos Dorados Holdings Inc. (NYSE:ARCO)

BNP Paribas Financial Markets cut its position in Arcos Dorados Holdings Inc. (NYSE:ARCO) by 5.5% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,494,684 shares of the restaurant operator’s stock after selling 87,219 shares during the quarter. BNP Paribas Financial Markets owned approximately 0.71% of Arcos Dorados worth $13,034,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Fourth Sail Capital LP bought a new position in shares of Arcos Dorados during the 2nd quarter worth approximately $16,463,000. Thompson Siegel & Walmsley LLC purchased a new position in Arcos Dorados in the third quarter worth $1,557,000. Diamond Hill Capital Management Inc. purchased a new position in Arcos Dorados in the third quarter worth $925,000. Marshall Wace LLP acquired a new position in shares of Arcos Dorados during the second quarter worth $7,128,000. Finally, Catalyst Capital Advisors LLC purchased a new stake in shares of Arcos Dorados during the 3rd quarter valued at $698,000. 55.91% of the stock is owned by hedge funds and other institutional investors.

Arcos Dorados Stock Performance

ARCO opened at $8.09 on Monday. The firm’s 50-day moving average price is $8.91 and its 200-day moving average price is $9.18. The company has a market cap of $1.70 billion, a P/E ratio of 11.56, a price-to-earnings-growth ratio of 2.55 and a beta of 1.16. The company has a quick ratio of 0.57, a current ratio of 0.63 and a debt-to-equity ratio of 1.40. Arcos Dorados Holdings Inc. has a 52-week low of $7.86 and a 52-week high of $13.20.

Arcos Dorados (NYSE:ARCO) last posted its quarterly earnings results on Wednesday, November 13th. The restaurant operator reported $0.17 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.16 by $0.01. The business had revenue of $1.13 billion during the quarter, compared to analysts’ expectations of $1.13 billion. Arcos Dorados had a net margin of 3.25% and a return on equity of 29.74%. The business’s quarterly revenue was up .8% on a year-over-year basis. During the same quarter last year, the company posted $0.30 earnings per share. As a group, equities analysts anticipate that Arcos Dorados Holdings Inc. will post 0.66 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Separately, JPMorgan Chase & Co. dropped their target price on Arcos Dorados from $14.00 to $12.00 and set an “overweight” rating on the stock in a research note on Friday, September 13th.

Arcos Dorados Company 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.