Arcos Dorados (NYSE:ARCO) Downgraded to “Hold” at StockNews.com

StockNews.com cut shares of Arcos Dorados (NYSE:ARCO) from a buy rating to a hold rating in a research note issued to investors on Tuesday morning.

Several other brokerages also recently commented on ARCO. Jefferies Financial Group initiated coverage on shares of Arcos Dorados in a research report on Friday, December 1st. They issued a buy rating and a $15.00 price target for the company. TheStreet upgraded shares of Arcos Dorados from a c+ rating to a b- rating in a research report on Tuesday, November 28th. One research analyst has rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of Moderate Buy and an average target price of $13.38.

Arcos Dorados Stock Up 0.9 %

Shares of NYSE:ARCO opened at $11.12 on Tuesday. The company has a debt-to-equity ratio of 1.38, a quick ratio of 0.66 and a current ratio of 0.72. The company has a market cap of $2.34 billion, a PE ratio of 13.08, a price-to-earnings-growth ratio of 0.91 and a beta of 1.27. Arcos Dorados has a 52 week low of $7.01 and a 52 week high of $13.20. The firm has a 50 day simple moving average of $11.81 and a 200 day simple moving average of $11.17.

Arcos Dorados Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Monday, December 23rd will be paid a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a dividend yield of 2.16%. The ex-dividend date is Monday, December 23rd. Arcos Dorados’s dividend payout ratio (DPR) is currently 28.24%.

Institutional Investors Weigh In On Arcos Dorados

A number of institutional investors have recently modified their holdings of the stock. Advisor Group Holdings Inc. raised its holdings in shares of Arcos Dorados by 64.3% during the 1st quarter. Advisor Group Holdings Inc. now owns 28,831 shares of the restaurant operator’s stock valued at $235,000 after purchasing an additional 11,288 shares in the last quarter. XTX Topco Ltd bought a new position in shares of Arcos Dorados during the 1st quarter valued at $209,000. Renaissance Technologies LLC bought a new position in shares of Arcos Dorados during the 1st quarter valued at $2,946,000. UBS Group AG raised its holdings in shares of Arcos Dorados by 925.1% during the 1st quarter. UBS Group AG now owns 320,597 shares of the restaurant operator’s stock valued at $2,606,000 after purchasing an additional 289,323 shares in the last quarter. Finally, Invesco Ltd. raised its holdings in shares of Arcos Dorados by 12.5% during the 1st quarter. Invesco Ltd. now owns 21,962,867 shares of the restaurant operator’s stock valued at $178,559,000 after purchasing an additional 2,435,111 shares in the last quarter. Institutional investors and hedge funds own 55.91% of the company’s stock.

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.