Pzena Investment Management LLC Acquires 4,893,812 Shares of Arcos Dorados Holdings Inc. $ARCO

Pzena Investment Management LLC lifted its stake in Arcos Dorados Holdings Inc. (NYSE:ARCO) by 74.9% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 11,427,294 shares of the restaurant operator’s stock after purchasing an additional 4,893,812 shares during the quarter. Pzena Investment Management LLC owned about 0.05% of Arcos Dorados worth $77,134,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in ARCO. Lazard Asset Management LLC bought a new position in Arcos Dorados during the 2nd quarter valued at approximately $117,349,000. Franklin Resources Inc. grew its stake in shares of Arcos Dorados by 50.9% in the second quarter. Franklin Resources Inc. now owns 3,907,929 shares of the restaurant operator’s stock worth $30,834,000 after acquiring an additional 1,319,031 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of Arcos Dorados by 3.1% during the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 3,508,707 shares of the restaurant operator’s stock valued at $27,684,000 after acquiring an additional 105,972 shares in the last quarter. Emeth Value Capital LLC raised its position in shares of Arcos Dorados by 29.0% in the 3rd quarter. Emeth Value Capital LLC now owns 1,973,667 shares of the restaurant operator’s stock worth $13,322,000 after purchasing an additional 443,327 shares during the last quarter. Finally, Brightlight Capital Management LP bought a new position in Arcos Dorados in the 2nd quarter worth about $14,972,000. Hedge funds and other institutional investors own 55.91% of the company’s stock.

Analyst Upgrades and Downgrades

ARCO has been the topic of several recent analyst reports. JPMorgan Chase & Co. cut their price objective on shares of Arcos Dorados from $8.80 to $8.70 and set a “neutral” rating on the stock in a research report on Tuesday, November 11th. Zacks Research upgraded shares of Arcos Dorados from a “strong sell” rating to a “hold” rating in a report on Friday, November 21st. Wall Street Zen upgraded shares of Arcos Dorados from a “hold” rating to a “buy” rating in a report on Saturday, November 15th. Finally, Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Arcos Dorados in a research report on Monday, December 29th. Three investment analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $8.70.

Arcos Dorados Price Performance

Shares of ARCO stock opened at $8.47 on Thursday. The company has a current ratio of 0.89, a quick ratio of 0.81 and a debt-to-equity ratio of 1.32. The company has a 50 day moving average price of $7.79 and a 200-day moving average price of $7.33. Arcos Dorados Holdings Inc. has a 52 week low of $6.51 and a 52 week high of $8.97.

About Arcos Dorados

Arcos Dorados Holdings Inc is the largest independent McDonald’s franchisee in the world, operating under an exclusive license agreement with McDonald’s Corporation. The company develops, owns and operates quick-service restaurants, offering the full McDonald’s menu, including hamburgers, chicken sandwiches, salads, sides, desserts and McCafé beverages. In addition to restaurant operations, Arcos Dorados manages supply chain logistics, property development, training and support services for its franchise network.

Headquartered in Montevideo, Uruguay, Arcos Dorados serves 20 markets across Latin America and the Caribbean, including Argentina, Brazil, Chile, Colombia, Mexico, Puerto Rico and Uruguay.