Arcos Dorados Holdings Inc. (NYSE:ARCO) Position Trimmed by INCA Investments LLC

INCA Investments LLC cut its stake in Arcos Dorados Holdings Inc. (NYSE:ARCO) by 11.6% during the first quarter, HoldingsChannel reports. The institutional investor owned 3,389,408 shares of the restaurant operator’s stock after selling 444,592 shares during the quarter. Arcos Dorados comprises approximately 7.2% of INCA Investments LLC’s portfolio, making the stock its 6th biggest holding. INCA Investments LLC’s holdings in Arcos Dorados were worth $17,252,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the stock. D. E. Shaw & Co. Inc. lifted its stake in Arcos Dorados by 424.5% in the 1st quarter. D. E. Shaw & Co. Inc. now owns 168,503 shares of the restaurant operator’s stock valued at $858,000 after buying an additional 136,375 shares in the last quarter. Amundi Asset Management US Inc. purchased a new position in Arcos Dorados in the 1st quarter worth approximately $1,273,000. Dumac Inc. purchased a new position in Arcos Dorados in the 1st quarter worth approximately $305,000. Jane Street Group LLC lifted its stake in Arcos Dorados by 30.6% in the 1st quarter. Jane Street Group LLC now owns 20,920 shares of the restaurant operator’s stock worth $106,000 after purchasing an additional 4,905 shares in the last quarter. Finally, Connacht Asset Management LP lifted its stake in Arcos Dorados by 11.4% in the 1st quarter. Connacht Asset Management LP now owns 418,007 shares of the restaurant operator’s stock worth $2,128,000 after purchasing an additional 42,691 shares in the last quarter. 39.48% of the stock is currently owned by hedge funds and other institutional investors.

A number of research analysts have weighed in on ARCO shares. JPMorgan Chase & Co. started coverage on shares of Arcos Dorados in a research note on Friday, July 2nd. They issued a “buy” rating and a $8.50 target price on the stock. Zacks Investment Research lowered shares of Arcos Dorados from a “buy” rating to a “hold” rating in a research note on Wednesday. The Goldman Sachs Group initiated coverage on shares of Arcos Dorados in a research report on Wednesday, April 28th. They set a “neutral” rating and a $5.60 price target on the stock. Finally, TheStreet raised shares of Arcos Dorados from a “d+” rating to a “c-” rating in a research report on Friday, May 7th. Three research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Arcos Dorados presently has an average rating of “Hold” and an average price target of $6.78.

Shares of ARCO stock traded up $0.11 during trading on Thursday, hitting $5.91. 3,125 shares of the stock traded hands, compared to its average volume of 799,815. The company has a debt-to-equity ratio of 4.75, a quick ratio of 0.73 and a current ratio of 0.80. The firm’s fifty day moving average price is $6.19. Arcos Dorados Holdings Inc. has a 52-week low of $3.86 and a 52-week high of $6.82.

Arcos Dorados (NYSE:ARCO) last posted its earnings results on Tuesday, May 11th. The restaurant operator reported ($0.14) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.01) by ($0.13). The company had revenue of $559.84 million during the quarter, compared to analyst estimates of $554.79 million. Arcos Dorados had a negative net margin of 6.50% and a negative return on equity of 73.32%. Equities research analysts predict that Arcos Dorados Holdings Inc. will post 0.07 EPS for the current fiscal year.

The company also recently announced a dividend, which will be paid on Friday, July 23rd. Investors of record on Wednesday, July 14th will be paid a dividend of $0.1086 per share. The ex-dividend date is Tuesday, July 13th. This represents a dividend yield of 1.82%. Arcos Dorados’s payout ratio is currently -8.33%.

Arcos Dorados Profile

Arcos Dorados Holdings Inc operates as a franchisee of McDonald's restaurants. The company 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.

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Institutional Ownership by Quarter for Arcos Dorados (NYSE:ARCO)

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