Nationwide Fund Advisors Invests $2.76 Million in Arcos Dorados Holdings Inc. (ARCO) Stock
Nationwide Fund Advisors acquired a new stake in Arcos Dorados Holdings Inc. (NYSE:ARCO) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 369,922 shares of the restaurant operator’s stock, valued at approximately $2,756,000. Nationwide Fund Advisors owned approximately 0.18% of Arcos Dorados Holdings as of its most recent SEC filing.
A number of other large investors have also recently modified their holdings of ARCO. Teachers Advisors LLC grew its position in Arcos Dorados Holdings by 30.0% in the second quarter. Teachers Advisors LLC now owns 10,684,536 shares of the restaurant operator’s stock valued at $79,600,000 after acquiring an additional 2,465,110 shares in the last quarter. Acadian Asset Management LLC grew its position in Arcos Dorados Holdings by 38.9% in the second quarter. Acadian Asset Management LLC now owns 4,800,113 shares of the restaurant operator’s stock valued at $35,761,000 after acquiring an additional 1,344,088 shares in the last quarter. Glen Point Capital LLP acquired a new stake in Arcos Dorados Holdings in the second quarter valued at approximately $6,164,000. Renaissance Technologies LLC grew its position in Arcos Dorados Holdings by 299.9% in the first quarter. Renaissance Technologies LLC now owns 953,439 shares of the restaurant operator’s stock valued at $7,675,000 after acquiring an additional 714,999 shares in the last quarter. Finally, Kora Management LP grew its position in Arcos Dorados Holdings by 46.8% in the first quarter. Kora Management LP now owns 2,196,643 shares of the restaurant operator’s stock valued at $17,683,000 after acquiring an additional 700,000 shares in the last quarter. 36.65% of the stock is owned by institutional investors.
ARCO has been the subject of several recent research reports. ValuEngine downgraded shares of Arcos Dorados Holdings from a “buy” rating to a “hold” rating in a research report on Tuesday, July 11th. BidaskClub raised shares of Arcos Dorados Holdings from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, July 25th. Zacks Investment Research downgraded shares of Arcos Dorados Holdings from a “buy” rating to a “hold” rating in a research report on Tuesday, July 4th. Finally, Citigroup Inc. raised shares of Arcos Dorados Holdings from a “neutral” rating to a “buy” rating and increased their price objective for the company from $10.10 to $10.60 in a research report on Monday, August 28th. Two analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $9.53.
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Shares of Arcos Dorados Holdings Inc. (ARCO) opened at 9.96 on Friday. The stock’s 50 day moving average is $9.48 and its 200-day moving average is $8.66. The firm has a market cap of $2.10 billion, a P/E ratio of 38.31 and a beta of 2.15. Arcos Dorados Holdings Inc. has a 52-week low of $5.20 and a 52-week high of $10.35.
Arcos Dorados Holdings (NYSE:ARCO) last issued its quarterly earnings results on Wednesday, August 9th. The restaurant operator reported ($0.02) EPS for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.12). Arcos Dorados Holdings had a return on equity of 14.68% and a net margin of 1.76%. The business had revenue of $798.70 million for the quarter. Equities analysts anticipate that Arcos Dorados Holdings Inc. will post $0.39 earnings per share for the current fiscal year.
Arcos Dorados Holdings Profile
Arcos Dorados Holdings Inc is a McDonald’s franchisee. The Company operates or franchises over 2,140 McDonald’s-branded restaurants. It divides its operations into four geographical divisions: Brazil; the Caribbean division, consisting of Aruba, Colombia, Curacao, French Guiana, Guadeloupe, Martinique, Puerto Rico, Trinidad and Tobago, the United States Virgin Islands of Saint Croix and Saint Thomas, and Venezuela; the North Latin America division (NOLAD), consisting of Costa Rica, Mexico and Panama, and the South Latin America division (SLAD), consisting of Argentina, Chile, Ecuador, Peru and Uruguay.
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