Pzena Investment Management LLC Has $88.61 Million Position in Arcos Dorados Holdings Inc. $ARCO

Pzena Investment Management LLC boosted its holdings in Arcos Dorados Holdings Inc. (NYSE:ARCO) by 1.7% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 10,741,166 shares of the restaurant operator’s stock after acquiring an additional 178,602 shares during the quarter. Pzena Investment Management LLC owned 5.10% of Arcos Dorados worth $88,615,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in ARCO. Global Retirement Partners LLC lifted its stake in Arcos Dorados by 9,074.6% during the fourth quarter. Global Retirement Partners LLC now owns 5,780 shares of the restaurant operator’s stock worth $42,000 after purchasing an additional 5,717 shares during the period. Quarry LP acquired a new position in shares of Arcos Dorados in the 3rd quarter worth approximately $45,000. Aquatic Capital Management LLC bought a new position in shares of Arcos Dorados during the 3rd quarter worth approximately $53,000. Tudor Investment Corp ET AL acquired a new stake in Arcos Dorados in the 3rd quarter valued at $73,000. Finally, Tower Bridge Advisors acquired a new stake in Arcos Dorados in the 3rd quarter valued at $75,000. Institutional investors and hedge funds own 55.91% of the company’s stock.

Arcos Dorados Stock Down 0.1%

Shares of NYSE:ARCO opened at $8.05 on Thursday. The company has a quick ratio of 0.73, a current ratio of 0.80 and a debt-to-equity ratio of 1.25. The firm has a market cap of $1.70 billion, a P/E ratio of 7.25 and a beta of 0.48. Arcos Dorados Holdings Inc. has a 12 month low of $6.51 and a 12 month high of $9.75. The company’s 50-day moving average price is $8.63 and its two-hundred day moving average price is $8.26.

Arcos Dorados (NYSE:ARCO) last announced its earnings results on Wednesday, May 20th. The restaurant operator reported $0.17 earnings per share for the quarter, topping analysts’ consensus estimates of $0.11 by $0.06. Arcos Dorados had a net margin of 4.86% and a return on equity of 10.47%. The company had revenue of $1.22 billion during the quarter, compared to the consensus estimate of $1.21 billion. During the same period in the previous year, the firm posted $0.07 earnings per share. The company’s revenue was up 12.9% on a year-over-year basis. As a group, research analysts forecast that Arcos Dorados Holdings Inc. will post 0.73 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

ARCO has been the subject of several recent analyst reports. Wall Street Zen upgraded Arcos Dorados from a “hold” rating to a “buy” rating in a research note on Saturday, May 23rd. Santander raised shares of Arcos Dorados to an “outperform” rating in a report on Monday, April 20th. Weiss Ratings cut shares of Arcos Dorados from a “hold (c+)” rating to a “hold (c)” rating in a research report on Monday. Finally, The Goldman Sachs Group reissued a “buy” rating on shares of Arcos Dorados in a report on Wednesday, April 8th. Two analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $8.70.

About Arcos Dorados

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.