Inlet Private Wealth LLC Purchases 6,000 Shares of Arcos Dorados Holdings Inc. (NYSE:ARCO)

Inlet Private Wealth LLC increased its position in Arcos Dorados Holdings Inc. (NYSE:ARCO) by 13.8% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 49,388 shares of the restaurant operator’s stock after buying an additional 6,000 shares during the quarter. Inlet Private Wealth LLC’s holdings in Arcos Dorados were worth $398,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of ARCO. 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. Raymond James Financial Inc. bought a new stake in Arcos Dorados in the 4th quarter worth approximately $154,000. Corient Private Wealth LLC bought a new stake in Arcos Dorados in the 4th quarter worth approximately $184,000. Quantbot Technologies LP bought a new stake in Arcos Dorados in the 4th quarter worth approximately $129,000. Finally, Virtu Financial LLC bought a new stake in Arcos Dorados in the 4th quarter worth approximately $90,000. Institutional investors own 55.91% of the company’s stock.

Arcos Dorados Stock Performance

Shares of ARCO stock opened at $7.21 on Monday. The company has a debt-to-equity ratio of 1.80, a quick ratio of 0.81 and a current ratio of 0.86. Arcos Dorados Holdings Inc. has a fifty-two week low of $6.66 and a fifty-two week high of $10.55. The stock has a 50 day moving average price of $7.52 and a two-hundred day moving average price of $7.68. The company has a market capitalization of $1.52 billion, a P/E ratio of 11.08 and a beta of 0.63.

Arcos Dorados (NYSE:ARCO) last announced 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 net margin of 3.00% and a return on equity of 26.70%. The company had revenue of $1.08 billion during the quarter, compared to the consensus estimate of $1.02 billion. During the same quarter in the previous year, the firm posted $0.14 EPS. The business’s revenue for the quarter was down .4% compared to the same quarter last year. Analysts expect that Arcos Dorados Holdings Inc. will post 0.63 earnings per share for the current year.

Arcos Dorados Cuts Dividend

The business also recently disclosed a dividend, which was paid on Friday, June 27th. Shareholders of record on Wednesday, June 25th were given a $0.06 dividend. The ex-dividend date was Tuesday, June 24th. This represents a yield of 3.13%. Arcos Dorados’s payout ratio is currently 36.92%.

Wall Street Analysts Forecast Growth

Separately, JPMorgan Chase & Co. downgraded Arcos Dorados from an “overweight” rating to a “neutral” rating and lowered their price objective for the company from $10.50 to $8.80 in a research report on Wednesday, July 2nd.

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.