River & Mercantile Asset Management LLP raised its holdings in Arcos Dorados Holding Inc (NYSE:ARCO) by 45.1% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 769,125 shares of the restaurant operator’s stock after buying an additional 239,237 shares during the period. River & Mercantile Asset Management LLP’s holdings in Arcos Dorados were worth $5,365,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the business. Wells Fargo & Company MN increased its stake in shares of Arcos Dorados by 19.7% during the fourth quarter. Wells Fargo & Company MN now owns 144,594 shares of the restaurant operator’s stock worth $1,496,000 after purchasing an additional 23,840 shares during the period. Bank of New York Mellon Corp increased its stake in shares of Arcos Dorados by 26.0% during the fourth quarter. Bank of New York Mellon Corp now owns 75,102 shares of the restaurant operator’s stock worth $777,000 after purchasing an additional 15,507 shares during the period. Geode Capital Management LLC bought a new position in shares of Arcos Dorados during the fourth quarter worth approximately $308,000. Envestnet Asset Management Inc. bought a new position in shares of Arcos Dorados during the fourth quarter worth approximately $194,000. Finally, Global X Management Co. LLC increased its stake in shares of Arcos Dorados by 12.4% during the first quarter. Global X Management Co. LLC now owns 676,765 shares of the restaurant operator’s stock worth $6,192,000 after purchasing an additional 74,832 shares during the period. Hedge funds and other institutional investors own 37.49% of the company’s stock.

Arcos Dorados stock opened at $6.80 on Monday. Arcos Dorados Holding Inc has a one year low of $6.65 and a one year high of $10.80. The company has a debt-to-equity ratio of 1.57, a quick ratio of 0.96 and a current ratio of 1.05. The firm has a market cap of $1.44 billion, a price-to-earnings ratio of 11.15, a P/E/G ratio of 1.25 and a beta of 1.75.

Arcos Dorados declared that its board has approved a share buyback program on Tuesday, May 22nd that authorizes the company to buyback $60.00 million in outstanding shares. This buyback authorization authorizes the restaurant operator to reacquire up to 3.9% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board of directors believes its shares are undervalued.

A number of equities analysts have commented on the company. ValuEngine upgraded Arcos Dorados from a “sell” rating to a “hold” rating in a research note on Friday, July 6th. Zacks Investment Research upgraded Arcos Dorados from a “hold” rating to a “buy” rating and set a $8.00 price objective on the stock in a research note on Friday, May 18th. Two research analysts have rated the stock with a sell rating and three have given a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $10.20.

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, CuraƧao, Ecuador, French Guiana, Guadeloupe, Martinique, Mexico, Panama, Peru, Puerto Rico, Trinidad and Tobago, Uruguay, the United States Virgin Islands of St.

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Institutional Ownership by Quarter for Arcos Dorados (NYSE:ARCO)

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