Handelsbanken Fonder AB Decreases Position in Arcos Dorados Holdings Inc. (NYSE:ARCO)

Handelsbanken Fonder AB lessened its position in Arcos Dorados Holdings Inc. (NYSE:ARCO) by 17.4% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 519,730 shares of the restaurant operator’s stock after selling 109,600 shares during the period. Handelsbanken Fonder AB owned about 0.25% of Arcos Dorados worth $4,532,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Perpetual Ltd purchased a new position in Arcos Dorados in the 1st quarter worth about $49,647,000. Private Management Group Inc. raised its holdings in shares of Arcos Dorados by 7.0% during the second quarter. Private Management Group Inc. now owns 2,168,504 shares of the restaurant operator’s stock valued at $19,517,000 after purchasing an additional 141,784 shares during the last quarter. Absolute Gestao de Investimentos Ltda. purchased a new position in shares of Arcos Dorados during the first quarter valued at approximately $22,586,000. Fourth Sail Capital LP bought a new position in Arcos Dorados during the second quarter valued at approximately $16,463,000. Finally, BNP Paribas Financial Markets boosted its holdings in Arcos Dorados by 2.4% in the first quarter. BNP Paribas Financial Markets now owns 1,612,824 shares of the restaurant operator’s stock worth $17,935,000 after purchasing an additional 37,218 shares during the last quarter. Hedge funds and other institutional investors own 55.91% of the company’s stock.

Analyst Ratings Changes

Separately, JPMorgan Chase & Co. lowered their price target on Arcos Dorados from $14.00 to $12.00 and set an “overweight” rating on the stock in a report on Friday, September 13th.

Arcos Dorados Price Performance

NYSE ARCO opened at $9.40 on Wednesday. The company has a quick ratio of 0.57, a current ratio of 0.63 and a debt-to-equity ratio of 1.52. The firm has a market capitalization of $1.98 billion, a P/E ratio of 11.60, a PEG ratio of 2.47 and a beta of 1.17. The company has a 50-day moving average price of $9.03 and a 200-day moving average price of $9.74. Arcos Dorados Holdings Inc. has a 52 week low of $8.08 and a 52 week high of $13.20.

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