Handelsbanken Fonder AB Cuts Stake in Arcos Dorados Holdings Inc. (NYSE:ARCO)

Handelsbanken Fonder AB trimmed its position in shares of Arcos Dorados Holdings Inc. (NYSE:ARCO) by 30.4% during the 1st quarter, HoldingsChannel.com reports. The firm owned 300,928 shares of the restaurant operator’s stock after selling 131,402 shares during the period. Handelsbanken Fonder AB’s holdings in Arcos Dorados were worth $2,425,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Bank of New York Mellon Corp lifted its stake in Arcos Dorados by 17.5% during the 4th quarter. Bank of New York Mellon Corp now owns 12,272 shares of the restaurant operator’s stock valued at $89,000 after acquiring an additional 1,830 shares during the period. Sanctuary Advisors LLC bought a new position in Arcos Dorados during the 4th quarter valued at about $90,000. Virtu Financial LLC bought a new position in Arcos Dorados during the 4th quarter valued at about $90,000. Quantbot Technologies LP bought a new position in Arcos Dorados during the 4th quarter valued at about $129,000. Finally, Boothbay Fund Management LLC lifted its stake in Arcos Dorados by 27.0% during the 4th 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 period. 55.91% of the stock is owned by hedge funds and other institutional investors.

Arcos Dorados Price Performance

ARCO opened at $7.58 on Friday. The company’s 50-day simple moving average is $7.50 and its two-hundred day simple moving average is $7.71. Arcos Dorados Holdings Inc. has a 52-week low of $6.66 and a 52-week high of $10.55. The company has a debt-to-equity ratio of 1.40, a quick ratio of 0.57 and a current ratio of 0.63. The stock has a market capitalization of $1.60 billion, a P/E ratio of 10.83 and a beta of 0.62.

Arcos Dorados (NYSE:ARCO) last issued its quarterly earnings data on Wednesday, May 14th. The restaurant operator reported $0.07 earnings per share for the quarter, missing the consensus estimate of $0.13 by ($0.06). Arcos Dorados had a return on equity of 29.74% and a net margin of 3.25%. The business had revenue of $1.08 billion during the quarter, compared to the consensus estimate of $1.02 billion. During the same quarter last year, the company earned $0.14 EPS. Arcos Dorados’s revenue for the quarter was down .4% on a year-over-year basis. As a group, analysts predict that Arcos Dorados Holdings Inc. will post 0.63 EPS for the current year.

Analyst Ratings Changes

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

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.