Diligent Investors LLC Boosts Stake in Arcos Dorados Holdings Inc. (NYSE:ARCO)

Diligent Investors LLC increased its stake in Arcos Dorados Holdings Inc. (NYSE:ARCO) by 3.3% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 72,478 shares of the restaurant operator’s stock after acquiring an additional 2,317 shares during the period. Diligent Investors LLC’s holdings in Arcos Dorados were worth $528,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in ARCO. Spire Wealth Management boosted its holdings in shares of Arcos Dorados by 27.2% in the 4th quarter. Spire Wealth Management now owns 7,210 shares of the restaurant operator’s stock worth $52,000 after purchasing an additional 1,540 shares in the last quarter. Navellier & Associates Inc. lifted its position in Arcos Dorados by 8.3% in the 4th quarter. Navellier & Associates Inc. now owns 22,258 shares of the restaurant operator’s stock worth $162,000 after buying an additional 1,700 shares during the last quarter. Bank of New York Mellon Corp lifted its position in Arcos Dorados by 17.5% in the 4th quarter. Bank of New York Mellon Corp now owns 12,272 shares of the restaurant operator’s stock worth $89,000 after buying an additional 1,830 shares during the last quarter. Freedom Investment Management Inc. boosted its stake in Arcos Dorados by 10.6% in the fourth quarter. Freedom Investment Management Inc. now owns 35,689 shares of the restaurant operator’s stock worth $260,000 after buying an additional 3,427 shares in the last quarter. Finally, Boothbay Fund Management LLC grew its position in Arcos Dorados by 27.0% during the fourth quarter. Boothbay Fund Management LLC now owns 19,761 shares of the restaurant operator’s stock valued at $144,000 after acquiring an additional 4,201 shares during the last quarter. Institutional investors own 55.91% of the company’s stock.

Analysts Set New Price Targets

Separately, StockNews.com cut shares of Arcos Dorados from a “buy” rating to a “hold” rating in a research note on Wednesday, March 26th.

Arcos Dorados Trading Up 1.5 %

Shares of ARCO stock opened at $7.92 on Wednesday. The business has a 50-day moving average of $7.71 and a 200 day moving average of $7.92. The company has a debt-to-equity ratio of 1.40, a current ratio of 0.63 and a quick ratio of 0.57. Arcos Dorados Holdings Inc. has a 1-year low of $6.66 and a 1-year high of $11.41. The stock has a market capitalization of $1.67 billion, a PE ratio of 11.31 and a beta of 0.65.

Arcos Dorados (NYSE:ARCO) last released its quarterly earnings data on Wednesday, March 12th. The restaurant operator reported $0.28 earnings per share for the quarter, beating analysts’ consensus estimates of $0.22 by $0.06. Arcos Dorados had a return on equity of 29.74% and a net margin of 3.25%. The firm had revenue of $1.14 billion during the quarter, compared to analyst estimates of $1.15 billion. As a group, sell-side analysts anticipate that Arcos Dorados Holdings Inc. will post 0.63 earnings per share for the current year.

Arcos Dorados Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 26th. Shareholders of record on Monday, December 22nd will be issued a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a yield of 3.03%. The ex-dividend date is Monday, December 22nd. Arcos Dorados’s dividend payout ratio (DPR) is presently 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.