CenterBook Partners LP Acquires Shares of 182,931 Arcos Dorados Holdings Inc. $ARCO

CenterBook Partners LP acquired a new stake in Arcos Dorados Holdings Inc. (NYSE:ARCO) in the 4th quarter, Holdings Channel reports. The institutional investor acquired 182,931 shares of the restaurant operator’s stock, valued at approximately $1,343,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Quantbot Technologies LP grew its stake in Arcos Dorados by 1,472,528.6% in the third quarter. Quantbot Technologies LP now owns 103,084 shares of the restaurant operator’s stock worth $696,000 after purchasing an additional 103,077 shares during the period. Hussman Strategic Advisors Inc. purchased a new stake in Arcos Dorados in the fourth quarter worth $771,000. Private Management Group Inc. grew its stake in Arcos Dorados by 6.2% in the third quarter. Private Management Group Inc. now owns 3,379,280 shares of the restaurant operator’s stock worth $22,810,000 after purchasing an additional 196,282 shares during the period. Fideuram Asset Management Ireland dac purchased a new stake in Arcos Dorados in the fourth quarter worth $771,000. Finally, Dumac Inc. purchased a new stake in Arcos Dorados in the fourth quarter worth $447,000. 55.91% of the stock is owned by hedge funds and other institutional investors.

Arcos Dorados Trading Up 1.1%

NYSE ARCO opened at $8.39 on Thursday. Arcos Dorados Holdings Inc. has a 12 month low of $6.51 and a 12 month high of $9.75. The stock has a market cap of $1.77 billion, a P/E ratio of 7.55 and a beta of 0.46. The stock’s fifty day moving average price is $8.68 and its 200-day moving average price is $8.15. The company has a current ratio of 0.80, a quick ratio of 0.73 and a debt-to-equity ratio of 1.25.

Arcos Dorados (NYSE:ARCO) last released its earnings results on Wednesday, May 20th. The restaurant operator reported $0.17 EPS for the quarter, topping analysts’ consensus estimates of $0.11 by $0.06. Arcos Dorados had a return on equity of 10.47% and a net margin of 4.86%.The firm had revenue of $1.22 billion for the quarter, compared to analysts’ expectations of $1.21 billion. During the same period in the prior year, the firm posted $0.07 earnings per share. The company’s quarterly revenue was up 12.9% on a year-over-year basis. As a group, equities analysts forecast that Arcos Dorados Holdings Inc. will post 0.73 EPS for the current fiscal year.

Arcos Dorados Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 29th. Investors of record on Wednesday, December 23rd will be given a dividend of $0.07 per share. The ex-dividend date of this dividend is Wednesday, December 23rd. This represents a $0.28 annualized dividend and a dividend yield of 3.3%. Arcos Dorados’s dividend payout ratio (DPR) is 16.22%.

Wall Street Analyst Weigh In

ARCO has been the topic of several recent research reports. Santander raised Arcos Dorados to an “outperform” rating in a research note on Monday, April 20th. The Goldman Sachs Group reaffirmed a “buy” rating on shares of Arcos Dorados in a research note on Wednesday, April 8th. Wall Street Zen raised Arcos Dorados from a “hold” rating to a “buy” rating in a research note on Saturday, May 23rd. Finally, Weiss Ratings raised Arcos Dorados from a “hold (c)” rating to a “hold (c+)” rating in a research note on Thursday, May 21st. Two analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $8.70.

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.