Hedges Asset Management LLC Acquires 7,000 Shares of Arcos Dorados Holdings Inc. (NYSE:ARCO)

Hedges Asset Management LLC lifted its stake in Arcos Dorados Holdings Inc. (NYSE:ARCO) by 2.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 338,500 shares of the restaurant operator’s stock after buying an additional 7,000 shares during the period. Arcos Dorados makes up approximately 1.6% of Hedges Asset Management LLC’s investment portfolio, making the stock its 12th biggest position. Hedges Asset Management LLC owned about 0.16% of Arcos Dorados worth $2,464,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in ARCO. Quarry LP lifted its position in shares of Arcos Dorados by 431.0% during the 2nd quarter. Quarry LP now owns 3,239 shares of the restaurant operator’s stock valued at $29,000 after acquiring an additional 2,629 shares during the period. Bank of New York Mellon Corp acquired a new position in Arcos Dorados in the second quarter valued at about $93,000. Magnetar Financial LLC bought a new stake in Arcos Dorados during the second quarter worth about $150,000. Bfsg LLC grew its stake in Arcos Dorados by 13.8% during the third quarter. Bfsg LLC now owns 18,650 shares of the restaurant operator’s stock worth $163,000 after buying an additional 2,255 shares in the last quarter. Finally, Navellier & Associates Inc. increased its holdings in Arcos Dorados by 26.8% in the 3rd quarter. Navellier & Associates Inc. now owns 20,558 shares of the restaurant operator’s stock valued at $179,000 after buying an additional 4,342 shares during the period. Institutional investors and hedge funds own 55.91% of the company’s stock.

Arcos Dorados Stock Performance

Shares of Arcos Dorados stock opened at $7.18 on Friday. The company has a current ratio of 0.63, a quick ratio of 0.57 and a debt-to-equity ratio of 1.40. The company has a market cap of $1.51 billion, a PE ratio of 10.26 and a beta of 1.13. The company has a 50 day moving average of $7.76 and a 200-day moving average of $8.66. Arcos Dorados Holdings Inc. has a 1-year low of $7.02 and a 1-year high of $13.20.

Arcos Dorados (NYSE:ARCO) last released its earnings results on Wednesday, November 13th. The restaurant operator reported $0.17 earnings per share for the quarter, topping the consensus estimate of $0.16 by $0.01. Arcos Dorados had a return on equity of 29.74% and a net margin of 3.25%. The firm had revenue of $1.13 billion during the quarter, compared to analysts’ expectations of $1.13 billion. During the same period in the prior year, the company earned $0.30 earnings per share. The company’s quarterly revenue was up .8% on a year-over-year basis. As a group, equities research analysts forecast that Arcos Dorados Holdings Inc. will post 0.61 earnings per share for the current fiscal year.

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.