Arcos Dorados Holdings Inc. (NYSE:ARCO) Stock Position Reduced by Hsbc Holdings PLC

Hsbc Holdings PLC decreased its position in Arcos Dorados Holdings Inc. (NYSE:ARCO) by 28.5% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 202,198 shares of the restaurant operator’s stock after selling 80,770 shares during the quarter. Hsbc Holdings PLC’s holdings in Arcos Dorados were worth $1,805,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the company. Adalta Capital Management LLC acquired a new position in Arcos Dorados in the first quarter worth $111,000. Bank of New York Mellon Corp acquired a new stake in shares of Arcos Dorados during the second quarter worth $93,000. Lazard Asset Management LLC lifted its position in shares of Arcos Dorados by 35.4% in the 1st quarter. Lazard Asset Management LLC now owns 11,557 shares of the restaurant operator’s stock worth $128,000 after buying an additional 3,022 shares during the last quarter. nVerses Capital LLC acquired a new position in shares of Arcos Dorados in the 2nd quarter valued at about $105,000. Finally, Blue Trust Inc. grew its position in shares of Arcos Dorados by 24.6% during the 2nd quarter. Blue Trust Inc. now owns 12,307 shares of the restaurant operator’s stock valued at $111,000 after buying an additional 2,427 shares during the last quarter. 55.91% of the stock is currently owned by institutional investors.

Arcos Dorados Stock Performance

ARCO stock opened at $8.63 on Friday. The stock’s fifty day moving average is $9.06 and its two-hundred day moving average is $9.87. The stock has a market capitalization of $1.82 billion, a price-to-earnings ratio of 10.65, a PEG ratio of 2.47 and a beta of 1.17. The company has a debt-to-equity ratio of 1.52, a quick ratio of 0.57 and a current ratio of 0.63. Arcos Dorados Holdings Inc. has a 1 year low of $8.08 and a 1 year high of $13.20.

Arcos Dorados (NYSE:ARCO) last posted its earnings results on Wednesday, August 14th. The restaurant operator reported $0.13 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.13. Arcos Dorados had a net margin of 3.80% and a return on equity of 36.55%. The firm had revenue of $1.11 billion during the quarter, compared to analyst estimates of $1.06 billion. During the same period in the previous year, the business posted $0.14 EPS. Arcos Dorados’s revenue was up 6.8% on a year-over-year basis. On average, research analysts predict that Arcos Dorados Holdings Inc. will post 0.7 EPS for the current year.

Analyst Upgrades and Downgrades

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

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.