Ramirez Asset Management Inc. Decreases Stake in Arcos Dorados Holdings Inc. (NYSE:ARCO)

Ramirez Asset Management Inc. lessened its holdings in Arcos Dorados Holdings Inc. (NYSE:ARCO) by 13.1% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 102,256 shares of the restaurant operator’s stock after selling 15,416 shares during the period. Ramirez Asset Management Inc.’s holdings in Arcos Dorados were worth $744,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the business. Assenagon Asset Management S.A. bought a new position in Arcos Dorados in the 4th quarter valued at $2,051,000. Franklin Resources Inc. bought a new position in Arcos Dorados during the third quarter valued at about $12,101,000. Diamond Hill Capital Management Inc. increased its holdings in Arcos Dorados by 73.5% during the fourth quarter. Diamond Hill Capital Management Inc. now owns 184,039 shares of the restaurant operator’s stock worth $1,340,000 after buying an additional 77,958 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its position in Arcos Dorados by 12.3% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 534,990 shares of the restaurant operator’s stock worth $3,895,000 after acquiring an additional 58,453 shares during the period. Finally, Emeth Value Capital LLC purchased a new position in Arcos Dorados in the fourth quarter valued at about $11,190,000. 55.91% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Separately, StockNews.com lowered shares of Arcos Dorados from a “buy” rating to a “hold” rating in a research note on Wednesday.

Arcos Dorados Stock Up 2.7 %

Shares of NYSE ARCO opened at $8.25 on Friday. The company has a debt-to-equity ratio of 1.40, a current ratio of 0.63 and a quick ratio of 0.57. The stock has a market capitalization of $1.74 billion, a PE ratio of 11.78 and a beta of 1.09. Arcos Dorados Holdings Inc. has a one year low of $7.02 and a one year high of $11.49. The business’s fifty day moving average price is $7.95 and its 200-day moving average price is $8.24.

Arcos Dorados (NYSE:ARCO) last released its quarterly earnings data on Wednesday, March 12th. The restaurant operator reported $0.28 EPS for the quarter, beating the consensus estimate of $0.22 by $0.06. The business had revenue of $1.14 billion for the quarter, compared to the consensus estimate of $1.15 billion. Arcos Dorados had a net margin of 3.25% and a return on equity of 29.74%. On average, equities research analysts anticipate that Arcos Dorados Holdings Inc. will post 0.63 EPS for the current year.

Arcos Dorados Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 26th. Investors of record on Monday, December 22nd will be paid a $0.06 dividend. The ex-dividend date is Monday, December 22nd. This represents a $0.24 dividend on an annualized basis and a yield of 2.91%. Arcos Dorados’s dividend payout ratio is 33.33%.

About Arcos Dorados

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.