Westpac Banking Corp Lowers Holdings in Arcos Dorados Holdings Inc. (ARCO)

Westpac Banking Corp trimmed its position in Arcos Dorados Holdings Inc. (NYSE:ARCO) by 67.7% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 63,591 shares of the restaurant operator’s stock after selling 133,109 shares during the quarter. Westpac Banking Corp’s holdings in Arcos Dorados Holdings were worth $474,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of the business. Teachers Advisors LLC lifted its holdings in shares of Arcos Dorados Holdings by 35.0% in the 1st quarter. Teachers Advisors LLC now owns 8,219,426 shares of the restaurant operator’s stock worth $66,166,000 after buying an additional 2,128,725 shares during the period. Morgan Stanley lifted its holdings in shares of Arcos Dorados Holdings by 7.7% in the 1st quarter. Morgan Stanley now owns 6,367,926 shares of the restaurant operator’s stock worth $51,263,000 after buying an additional 453,142 shares during the period. Acadian Asset Management LLC lifted its holdings in shares of Arcos Dorados Holdings by 38.9% in the 2nd quarter. Acadian Asset Management LLC now owns 4,800,113 shares of the restaurant operator’s stock worth $35,761,000 after buying an additional 1,344,088 shares during the period. Kora Management LP lifted its holdings in shares of Arcos Dorados Holdings by 46.8% in the 1st quarter. Kora Management LP now owns 2,196,643 shares of the restaurant operator’s stock worth $17,683,000 after buying an additional 700,000 shares during the period. Finally, Parametric Portfolio Associates LLC lifted its holdings in shares of Arcos Dorados Holdings by 20.4% in the 1st quarter. Parametric Portfolio Associates LLC now owns 2,021,293 shares of the restaurant operator’s stock worth $16,271,000 after buying an additional 342,567 shares during the period. Institutional investors and hedge funds own 36.65% of the company’s stock.

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Shares of Arcos Dorados Holdings Inc. (NYSE:ARCO) opened at 9.70 on Friday. Arcos Dorados Holdings Inc. has a 52 week low of $4.88 and a 52 week high of $9.85. The company’s 50 day moving average price is $9.00 and its 200-day moving average price is $8.24. The stock has a market capitalization of $2.05 billion, a PE ratio of 37.31 and a beta of 2.16.

Arcos Dorados Holdings (NYSE:ARCO) last released its earnings results on Wednesday, August 9th. The restaurant operator reported ($0.02) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.10 by ($0.12). The company had revenue of $798.70 million during the quarter. Arcos Dorados Holdings had a net margin of 1.76% and a return on equity of 14.68%. Equities research analysts predict that Arcos Dorados Holdings Inc. will post $0.39 EPS for the current year.

Several equities research analysts have weighed in on the company. BidaskClub upgraded Arcos Dorados Holdings from a “buy” rating to a “strong-buy” rating in a report on Thursday. ValuEngine upgraded Arcos Dorados Holdings from a “hold” rating to a “buy” rating in a report on Saturday, June 3rd. Zacks Investment Research upgraded Arcos Dorados Holdings from a “hold” rating to a “buy” rating and set a $9.75 target price for the company in a report on Friday, May 26th. Finally, Citigroup Inc. upgraded Arcos Dorados Holdings from a “neutral” rating to a “buy” rating and upped their target price for the stock from $10.10 to $10.60 in a report on Monday, August 28th. Two analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $9.28.

Arcos Dorados Holdings Profile

Arcos Dorados Holdings Inc is a McDonald’s franchisee. The Company operates or franchises over 2,140 McDonald’s-branded restaurants. It divides its operations into four geographical divisions: Brazil; the Caribbean division, consisting of Aruba, Colombia, Curacao, French Guiana, Guadeloupe, Martinique, Puerto Rico, Trinidad and Tobago, the United States Virgin Islands of Saint Croix and Saint Thomas, and Venezuela; the North Latin America division (NOLAD), consisting of Costa Rica, Mexico and Panama, and the South Latin America division (SLAD), consisting of Argentina, Chile, Ecuador, Peru and Uruguay.

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Institutional Ownership by Quarter for Arcos Dorados Holdings (NYSE:ARCO)

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