Point72 Asset Management L.P. Has $256,000 Position in Arcos Dorados Holdings Inc. (NYSE:ARCO)

Point72 Asset Management L.P. increased its position in shares of Arcos Dorados Holdings Inc. (NYSE:ARCO) by 58.3% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 28,500 shares of the restaurant operator’s stock after purchasing an additional 10,500 shares during the period. Point72 Asset Management L.P.’s holdings in Arcos Dorados were worth $256,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. TimesSquare Capital Management LLC lifted its holdings in Arcos Dorados by 25.8% during the 1st quarter. TimesSquare Capital Management LLC now owns 1,466,000 shares of the restaurant operator’s stock worth $16,302,000 after purchasing an additional 301,020 shares during the last quarter. Perpetual Ltd acquired a new stake in Arcos Dorados during the 1st quarter worth approximately $49,647,000. Fourth Sail Capital LP acquired a new stake in Arcos Dorados during the 2nd quarter worth approximately $16,463,000. Nordea Investment Management AB lifted its holdings in Arcos Dorados by 33.5% during the 1st quarter. Nordea Investment Management AB now owns 458,355 shares of the restaurant operator’s stock worth $5,129,000 after purchasing an additional 115,118 shares during the last quarter. Finally, Oliver Luxxe Assets LLC raised its holdings in Arcos Dorados by 29.2% in the 1st quarter. Oliver Luxxe Assets LLC now owns 69,924 shares of the restaurant operator’s stock valued at $778,000 after acquiring an additional 15,786 shares in the last quarter. 55.91% of the stock is owned by institutional investors and hedge funds.

Arcos Dorados Price Performance

Shares of NYSE ARCO opened at $9.66 on Friday. The stock has a market capitalization of $2.03 billion, a PE ratio of 11.93, a P/E/G ratio of 2.47 and a beta of 1.17. The company has a debt-to-equity ratio of 1.52, a current ratio of 0.63 and a quick ratio of 0.57. The business has a fifty day moving average price of $9.04 and a two-hundred day moving average price of $9.77. Arcos Dorados Holdings Inc. has a fifty-two week low of $8.08 and a fifty-two week high of $13.20.

Arcos Dorados (NYSE:ARCO) last announced its quarterly earnings data on Wednesday, August 14th. The restaurant operator reported $0.13 earnings per share for the quarter, meeting the consensus estimate of $0.13. Arcos Dorados had a return on equity of 36.55% and a net margin of 3.80%. The firm had revenue of $1.11 billion during the quarter, compared to analysts’ expectations of $1.06 billion. During the same period in the previous year, the firm earned $0.14 EPS. The company’s quarterly revenue was up 6.8% compared to the same quarter last year. As a group, equities analysts predict that Arcos Dorados Holdings Inc. will post 0.7 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Separately, JPMorgan Chase & Co. dropped their price objective on 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 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.