Arcos Dorados (NYSE:ARCO) Sees Strong Trading Volume After Dividend Announcement

Arcos Dorados Holdings Inc. (NYSE:ARCO) shares saw an uptick in trading volume on Friday after the company announced a dividend. 1,985,391 shares were traded during trading, an increase of 54% from the previous session’s volume of 1,285,258 shares.The stock last traded at $8.27 and had previously closed at $7.92.

The newly announced dividend which will be paid on Friday, December 26th. Investors of record on Monday, December 22nd will be given a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a yield of 2.91%. The ex-dividend date is Monday, December 22nd. Arcos Dorados’s payout ratio is presently 34.29%.

Arcos Dorados Trading Up 4.1 %

The firm’s 50-day simple moving average is $7.80 and its 200-day simple moving average is $8.28. The firm has a market capitalization of $1.74 billion, a PE ratio of 11.78 and a beta of 1.09. The company has a quick ratio of 0.57, a current ratio of 0.63 and a debt-to-equity ratio of 1.40.

Arcos Dorados (NYSE:ARCO) last issued its earnings results on Wednesday, March 12th. The restaurant operator reported $0.28 earnings per share for the quarter, beating the consensus estimate of $0.22 by $0.06. The company had revenue of $1.14 billion during the quarter, compared to analysts’ expectations of $1.15 billion. Arcos Dorados had a return on equity of 29.74% and a net margin of 3.25%. Equities analysts expect that Arcos Dorados Holdings Inc. will post 0.63 earnings per share for the current year.

Institutional Trading of Arcos Dorados

A number of institutional investors have recently made changes to their positions in the stock. Spire Wealth Management raised its holdings in Arcos Dorados by 27.2% during the 4th quarter. Spire Wealth Management now owns 7,210 shares of the restaurant operator’s stock valued at $52,000 after buying an additional 1,540 shares during the last quarter. R Squared Ltd purchased a new position in shares of Arcos Dorados in the fourth quarter valued at about $54,000. Bank of New York Mellon Corp raised its stake in shares of Arcos Dorados by 17.5% during the fourth quarter. Bank of New York Mellon Corp now owns 12,272 shares of the restaurant operator’s stock valued at $89,000 after acquiring an additional 1,830 shares during the last quarter. Sanctuary Advisors LLC purchased a new stake in shares of Arcos Dorados during the fourth quarter worth about $90,000. Finally, Virtu Financial LLC purchased a new stake in shares of Arcos Dorados during the fourth quarter worth about $90,000. Hedge funds and other institutional investors own 55.91% of the company’s stock.

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, Curacao, Ecuador, French Guiana, Guadeloupe, Martinique, Mexico, Panama, Peru, Puerto Rico, Trinidad and Tobago, Uruguay, the U.S.