INCA Investments LLC cut its holdings in Arcos Dorados Holding Inc (NYSE:ARCO) by 5.2% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 5,137,760 shares of the restaurant operator’s stock after selling 282,520 shares during the period. Arcos Dorados makes up approximately 6.6% of INCA Investments LLC’s investment portfolio, making the stock its 9th largest position. INCA Investments LLC owned about 2.50% of Arcos Dorados worth $37,403,000 at the end of the most recent quarter.
Other hedge funds have also added to or reduced their stakes in the company. Moerus Capital Management LLC lifted its position in Arcos Dorados by 2.0% during the first quarter. Moerus Capital Management LLC now owns 5,749,674 shares of the restaurant operator’s stock worth $41,225,000 after purchasing an additional 112,028 shares during the period. Norges Bank bought a new stake in Arcos Dorados during the fourth quarter worth about $10,211,000. BlackRock Inc. lifted its position in Arcos Dorados by 37.0% during the fourth quarter. BlackRock Inc. now owns 807,519 shares of the restaurant operator’s stock worth $6,380,000 after purchasing an additional 218,178 shares during the period. SPX Equities Gestao de Recursos Ltda bought a new stake in Arcos Dorados during the second quarter worth about $3,885,000. Finally, O Keefe Stevens Advisory Inc. lifted its holdings in shares of Arcos Dorados by 5.3% in the second quarter. O Keefe Stevens Advisory Inc. now owns 475,734 shares of the restaurant operator’s stock worth $3,463,000 after acquiring an additional 24,130 shares during the last quarter. Institutional investors and hedge funds own 38.25% of the company’s stock.
A number of research analysts have recently commented on the stock. Bradesco Corretora raised shares of Arcos Dorados from a “neutral” rating to an “outperform” rating and increased their target price for the stock from $9.00 to $11.00 in a report on Friday, July 26th. JPMorgan Chase & Co. assumed coverage on shares of Arcos Dorados in a report on Wednesday, July 10th. They issued an “overweight” rating and a $8.50 target price for the company. Zacks Investment Research cut shares of Arcos Dorados from a “hold” rating to a “sell” rating in a report on Wednesday, June 19th. TheStreet cut shares of Arcos Dorados from a “b-” rating to a “c” rating in a report on Tuesday, April 30th. Finally, ValuEngine cut shares of Arcos Dorados from a “buy” rating to a “hold” rating in a report on Wednesday, July 17th. Two analysts have rated the stock with a sell rating, one has given a hold rating and two have issued a buy rating to the company’s stock. Arcos Dorados has a consensus rating of “Hold” and a consensus price target of $9.75.
Arcos Dorados (NYSE:ARCO) last issued its quarterly earnings data on Wednesday, August 7th. The restaurant operator reported $0.05 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.01). The business had revenue of $723.75 million during the quarter, compared to the consensus estimate of $736.28 million. Arcos Dorados had a net margin of 1.64% and a return on equity of 12.41%. Analysts predict that Arcos Dorados Holding Inc will post 0.29 EPS for the current 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, Curaçao, Ecuador, French Guiana, Guadeloupe, Martinique, Mexico, Panama, Peru, Puerto Rico, Trinidad and Tobago, Uruguay, the United States Virgin Islands of St.
Want to see what other hedge funds are holding ARCO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Arcos Dorados Holding Inc (NYSE:ARCO).
Receive News & Ratings for Arcos Dorados Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Arcos Dorados and related companies with MarketBeat.com's FREE daily email newsletter.