Hedges Asset Management LLC Has $2.89 Million Position in Arcos Dorados Holdings Inc. (NYSE:ARCO)

Hedges Asset Management LLC lifted its position in shares of Arcos Dorados Holdings Inc. (NYSE:ARCO) by 18.8% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 331,500 shares of the restaurant operator’s stock after acquiring an additional 52,500 shares during the quarter. Arcos Dorados makes up 1.9% of Hedges Asset Management LLC’s investment portfolio, making the stock its 9th largest position. Hedges Asset Management LLC owned approximately 0.16% of Arcos Dorados worth $2,891,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in ARCO. Squarepoint Ops LLC boosted its stake in Arcos Dorados by 9.0% in the 2nd quarter. Squarepoint Ops LLC now owns 24,690 shares of the restaurant operator’s stock worth $222,000 after purchasing an additional 2,034 shares during the period. Americana Partners LLC increased its stake in Arcos Dorados by 15.0% in the 2nd quarter. Americana Partners LLC now owns 17,204 shares of the restaurant operator’s stock worth $155,000 after acquiring an additional 2,240 shares during the last quarter. Bfsg LLC boosted its position in shares of Arcos Dorados by 13.8% during the 3rd quarter. Bfsg LLC now owns 18,650 shares of the restaurant operator’s stock valued at $163,000 after acquiring an additional 2,255 shares during the last quarter. Blue Trust Inc. grew its holdings in shares of Arcos Dorados by 24.6% during the second quarter. Blue Trust Inc. now owns 12,307 shares of the restaurant operator’s stock worth $111,000 after purchasing an additional 2,427 shares in the last quarter. Finally, Quarry LP raised its stake in Arcos Dorados by 431.0% in the second quarter. Quarry LP now owns 3,239 shares of the restaurant operator’s stock valued at $29,000 after purchasing an additional 2,629 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. dropped their price objective 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 Stock Down 1.4 %

Shares of ARCO opened at $8.96 on Monday. The firm has a market cap of $1.89 billion, a P/E ratio of 11.06, a P/E/G ratio of 2.86 and a beta of 1.17. Arcos Dorados Holdings Inc. has a 1 year low of $8.08 and a 1 year high of $13.20. The stock has a 50 day simple moving average of $8.98 and a two-hundred day simple moving average of $9.59. The company has a debt-to-equity ratio of 1.52, a current ratio of 0.63 and a quick ratio of 0.57.

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