Coronation Fund Managers Ltd. reduced its stake in Arcos Dorados Holdings Inc. (NYSE:ARCO) by 21.4% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,218,074 shares of the company’s stock after selling 1,691,533 shares during the period. Arcos Dorados Holdings makes up approximately 1.2% of Coronation Fund Managers Ltd.’s investment portfolio, making the stock its 28th largest position. Coronation Fund Managers Ltd.’s holdings in Arcos Dorados Holdings were worth $32,770,000 as of its most recent SEC filing.
A number of other large investors have also made changes to their positions in ARCO. A.R.T. Advisors LLC increased its stake in Arcos Dorados Holdings by 219.0% in the second quarter. A.R.T. Advisors LLC now owns 113,182 shares of the company’s stock worth $539,000 after buying an additional 77,700 shares during the period. Guggenheim Capital LLC purchased a new stake in Arcos Dorados Holdings during the second quarter worth $260,000. Walleye Trading LLC increased its stake in Arcos Dorados Holdings by 91.3% in the second quarter. Walleye Trading LLC now owns 33,900 shares of the company’s stock worth $162,000 after buying an additional 16,175 shares during the period. Parametric Portfolio Associates LLC increased its stake in Arcos Dorados Holdings by 22.4% in the second quarter. Parametric Portfolio Associates LLC now owns 2,859,790 shares of the company’s stock worth $13,641,000 after buying an additional 523,544 shares during the period. Finally, Burnham Asset Management Corp NY purchased a new stake in Arcos Dorados Holdings during the second quarter worth $290,000. 36.80% of the stock is owned by hedge funds and other institutional investors.
Arcos Dorados Holdings Inc. (NYSE:ARCO) traded up 0.88% during mid-day trading on Wednesday, reaching $5.70. The company’s stock had a trading volume of 23,801 shares. The stock has a market cap of $1.20 billion, a PE ratio of 19.66 and a beta of 2.15. The company has a 50 day moving average of $5.63 and a 200-day moving average of $5.63. Arcos Dorados Holdings Inc. has a 52-week low of $2.16 and a 52-week high of $6.60.
Arcos Dorados Holdings (NYSE:ARCO) last posted its earnings results on Wednesday, November 2nd. The company reported ($0.01) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.04 by $0.05. Arcos Dorados Holdings had a net margin of 2.19% and a return on equity of 20.08%. The business earned $775.70 million during the quarter, compared to analyst estimates of $753.70 million. During the same period in the previous year, the firm posted ($0.17) earnings per share. The firm’s revenue was up 2.9% on a year-over-year basis. Equities analysts forecast that Arcos Dorados Holdings Inc. will post $0.39 earnings per share for the current year.
A number of brokerages have recently commented on ARCO. Zacks Investment Research raised Arcos Dorados Holdings from a “hold” rating to a “buy” rating and set a $7.25 price objective on the stock in a report on Tuesday, October 25th. Morgan Stanley raised Arcos Dorados Holdings from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $5.00 to $8.00 in a report on Monday, October 24th. They noted that the move was a valuation call.
About Arcos Dorados Holdings
Arcos Dorados Holdings Inc is a McDonald’s franchisee. The Company operates or franchises over 2,140 McDonald’s-branded restaurants. It divides its operations into four geographical divisions: Brazil; the Caribbean division, consisting of Aruba, Colombia, Curacao, French Guiana, Guadeloupe, Martinique, Puerto Rico, Trinidad and Tobago, the United States Virgin Islands of Saint Croix and Saint Thomas, and Venezuela; the North Latin America division (NOLAD), consisting of Costa Rica, Mexico and Panama, and the South Latin America division (SLAD), consisting of Argentina, Chile, Ecuador, Peru and Uruguay.
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