Bank of New York Mellon Corp Increases Stake in Arcos Dorados Holdings Inc. (NYSE:ARCO)

Bank of New York Mellon Corp lifted its stake in Arcos Dorados Holdings Inc. (NYSE:ARCO) by 17.5% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 12,272 shares of the restaurant operator’s stock after buying an additional 1,830 shares during the quarter. Bank of New York Mellon Corp’s holdings in Arcos Dorados were worth $89,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Assenagon Asset Management S.A. purchased a new position in Arcos Dorados during the 4th quarter valued at approximately $2,051,000. Franklin Resources Inc. purchased a new position in shares of Arcos Dorados in the third quarter valued at $12,101,000. Mirae Asset Global Investments Co. Ltd. increased its position in Arcos Dorados by 12.3% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 534,990 shares of the restaurant operator’s stock worth $3,895,000 after purchasing an additional 58,453 shares during the last quarter. Emeth Value Capital LLC purchased a new stake in Arcos Dorados during the fourth quarter valued at $11,190,000. Finally, Public Employees Retirement System of Ohio bought a new position in Arcos Dorados during the third quarter valued at $1,645,000. Institutional investors own 55.91% of the company’s stock.

Analyst Ratings Changes

Separately, StockNews.com downgraded shares of Arcos Dorados from a “buy” rating to a “hold” rating in a report on Wednesday, March 26th.

Arcos Dorados Trading Down 1.4 %

Shares of ARCO stock opened at $8.14 on Monday. The company has a market cap of $1.71 billion, a PE ratio of 11.62 and a beta of 1.09. The company has a debt-to-equity ratio of 1.40, a current ratio of 0.63 and a quick ratio of 0.57. The stock’s 50 day simple moving average is $7.97 and its two-hundred day simple moving average is $8.24. Arcos Dorados Holdings Inc. has a 1 year low of $7.02 and a 1 year high of $11.49.

Arcos Dorados (NYSE:ARCO) last released its quarterly 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 for the quarter, compared to analyst estimates of $1.15 billion. Arcos Dorados had a return on equity of 29.74% and a net margin of 3.25%. Research analysts predict that Arcos Dorados Holdings Inc. will post 0.63 earnings per share for the current year.

Arcos Dorados Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 26th. Investors of record on Monday, December 22nd will be paid a dividend of $0.06 per share. The ex-dividend date of this dividend is Monday, December 22nd. This represents a $0.24 dividend on an annualized basis and a dividend yield of 2.95%. Arcos Dorados’s dividend payout ratio is presently 33.33%.

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.