TimesSquare Capital Management LLC Trims Stock Position in Arcos Dorados Holdings Inc. $ARCO

TimesSquare Capital Management LLC lessened its stake in Arcos Dorados Holdings Inc. (NYSE:ARCO) by 24.8% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 656,752 shares of the restaurant operator’s stock after selling 216,950 shares during the quarter. TimesSquare Capital Management LLC’s holdings in Arcos Dorados were worth $4,433,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Royal Bank of Canada lifted its holdings in Arcos Dorados by 23.1% in the first quarter. Royal Bank of Canada now owns 538,925 shares of the restaurant operator’s stock valued at $4,344,000 after acquiring an additional 101,301 shares during the period. Jane Street Group LLC lifted its stake in shares of Arcos Dorados by 58.3% in the 1st quarter. Jane Street Group LLC now owns 309,785 shares of the restaurant operator’s stock valued at $2,497,000 after purchasing an additional 114,034 shares during the period. West Tower Group LLC boosted its holdings in Arcos Dorados by 32.9% during the second quarter. West Tower Group LLC now owns 196,000 shares of the restaurant operator’s stock worth $1,546,000 after buying an additional 48,546 shares in the last quarter. Bleakley Financial Group LLC grew its position in Arcos Dorados by 3.9% during the second quarter. Bleakley Financial Group LLC now owns 215,971 shares of the restaurant operator’s stock valued at $1,704,000 after buying an additional 8,112 shares during the period. Finally, R Squared Ltd increased its holdings in Arcos Dorados by 66.8% in the second quarter. R Squared Ltd now owns 19,681 shares of the restaurant operator’s stock valued at $155,000 after buying an additional 7,881 shares in the last quarter. 55.91% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have recently issued reports on ARCO. JPMorgan Chase & Co. lowered their target price on shares of Arcos Dorados from $8.80 to $8.70 and set a “neutral” rating on the stock in a research note on Tuesday, November 11th. Weiss Ratings reissued a “hold (c-)” rating on shares of Arcos Dorados in a report on Monday, December 29th. Wall Street Zen raised Arcos Dorados from a “hold” rating to a “buy” rating in a research note on Saturday, November 15th. Finally, Zacks Research upgraded Arcos Dorados from a “strong sell” rating to a “hold” rating in a research report on Friday, November 21st. Three equities research analysts have rated the stock with a Hold rating, Based on data from MarketBeat, Arcos Dorados presently has an average rating of “Hold” and an average target price of $8.70.

Arcos Dorados Price Performance

NYSE:ARCO opened at $8.39 on Monday. The stock has a 50 day moving average of $7.72 and a two-hundred day moving average of $7.30. Arcos Dorados Holdings Inc. has a 12 month low of $6.51 and a 12 month high of $8.97. The company has a current ratio of 0.89, a quick ratio of 0.81 and a debt-to-equity ratio of 1.32.

Arcos Dorados Profile

Arcos Dorados Holdings Inc is the largest independent McDonald’s franchisee in the world, operating under an exclusive license agreement with McDonald’s Corporation. The company develops, owns and operates quick-service restaurants, offering the full McDonald’s menu, including hamburgers, chicken sandwiches, salads, sides, desserts and McCafé beverages. In addition to restaurant operations, Arcos Dorados manages supply chain logistics, property development, training and support services for its franchise network.

Headquartered in Montevideo, Uruguay, Arcos Dorados serves 20 markets across Latin America and the Caribbean, including Argentina, Brazil, Chile, Colombia, Mexico, Puerto Rico and Uruguay.