Arcos Dorados Holdings Inc. $ARCO Stake Lessened by Acorn Financial Advisory Services Inc. ADV

Acorn Financial Advisory Services Inc. ADV lowered its holdings in Arcos Dorados Holdings Inc. (NYSE:ARCO) by 2.7% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 223,523 shares of the restaurant operator’s stock after selling 6,315 shares during the period. Acorn Financial Advisory Services Inc. ADV’s holdings in Arcos Dorados were worth $1,764,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the business. Deltec Asset Management LLC lifted its holdings in shares of Arcos Dorados by 1.2% in the first quarter. Deltec Asset Management LLC now owns 168,538 shares of the restaurant operator’s stock valued at $1,358,000 after purchasing an additional 2,000 shares in the last quarter. Baker Ellis Asset Management LLC lifted its holdings in shares of Arcos Dorados by 9.9% in the second quarter. Baker Ellis Asset Management LLC now owns 44,500 shares of the restaurant operator’s stock valued at $351,000 after purchasing an additional 4,000 shares in the last quarter. R Squared Ltd raised its holdings in shares of Arcos Dorados by 60.3% during the first quarter. R Squared Ltd now owns 11,800 shares of the restaurant operator’s stock worth $95,000 after acquiring an additional 4,440 shares in the last quarter. Hancock Whitney Corp raised its holdings in shares of Arcos Dorados by 17.5% during the first quarter. Hancock Whitney Corp now owns 31,282 shares of the restaurant operator’s stock worth $252,000 after acquiring an additional 4,670 shares in the last quarter. Finally, American Capital Advisory LLC raised its holdings in shares of Arcos Dorados by 2.2% during the first quarter. American Capital Advisory LLC now owns 239,143 shares of the restaurant operator’s stock worth $1,927,000 after acquiring an additional 5,217 shares in the last quarter. Hedge funds and other institutional investors own 55.91% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on ARCO shares. JPMorgan Chase & Co. lowered Arcos Dorados from an “overweight” rating to a “neutral” rating and cut their price objective for the stock from $10.50 to $8.80 in a report on Wednesday, July 2nd. Weiss Ratings lowered Arcos Dorados from a “hold (c-)” rating to a “sell (d+)” rating in a report on Wednesday, October 8th. Finally, Wall Street Zen upgraded Arcos Dorados from a “hold” rating to a “buy” rating in a report on Saturday, September 13th. One equities research analyst has rated the stock with a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Arcos Dorados has an average rating of “Reduce” and a consensus price target of $8.80.

Arcos Dorados Price Performance

NYSE ARCO opened at $6.93 on Tuesday. Arcos Dorados Holdings Inc. has a fifty-two week low of $6.51 and a fifty-two week high of $10.03. The stock’s 50-day moving average is $6.94 and its two-hundred day moving average is $7.29. The company has a debt-to-equity ratio of 1.62, a current ratio of 0.80 and a quick ratio of 0.73. The firm has a market cap of $1.46 billion, a P/E ratio of 11.00, a price-to-earnings-growth ratio of 1.33 and a beta of 0.60.

Arcos Dorados (NYSE:ARCO) last posted its earnings results on Wednesday, August 13th. The restaurant operator reported $0.11 earnings per share for the quarter, beating the consensus estimate of $0.05 by $0.06. Arcos Dorados had a return on equity of 24.54% and a net margin of 2.89%.The company had revenue of $1.14 billion for the quarter, compared to analyst estimates of $1.22 billion. During the same period last year, the company earned $0.13 earnings per share. The business’s revenue was up 2.8% compared to the same quarter last year. On average, analysts anticipate that Arcos Dorados Holdings Inc. will post 0.63 earnings per share for the current fiscal year.

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.