Envestnet Asset Management Inc. Lowers Position in Arcos Dorados Holdings Inc. $ARCO

Envestnet Asset Management Inc. trimmed its position in shares of Arcos Dorados Holdings Inc. (NYSE:ARCO) by 29.7% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 304,596 shares of the restaurant operator’s stock after selling 128,641 shares during the quarter. Envestnet Asset Management Inc. owned approximately 0.14% of Arcos Dorados worth $2,056,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the company. Royal Bank of Canada lifted its stake in shares of Arcos Dorados by 23.1% in the 1st quarter. Royal Bank of Canada now owns 538,925 shares of the restaurant operator’s stock valued at $4,344,000 after purchasing an additional 101,301 shares during the period. Jane Street Group LLC raised its holdings in Arcos Dorados by 58.3% in the first quarter. Jane Street Group LLC now owns 309,785 shares of the restaurant operator’s stock worth $2,497,000 after purchasing an additional 114,034 shares in the last quarter. American Capital Advisory LLC lifted its position in Arcos Dorados by 29.6% during the second quarter. American Capital Advisory LLC now owns 310,048 shares of the restaurant operator’s stock valued at $2,446,000 after buying an additional 70,905 shares during the period. Seafarer Capital Partners LLC lifted its position in Arcos Dorados by 30.0% during the second quarter. Seafarer Capital Partners LLC now owns 260,000 shares of the restaurant operator’s stock valued at $2,051,000 after buying an additional 60,000 shares during the period. Finally, Fox Run Management L.L.C. boosted its holdings in shares of Arcos Dorados by 29.8% during the 2nd quarter. Fox Run Management L.L.C. now owns 81,781 shares of the restaurant operator’s stock valued at $645,000 after buying an additional 18,791 shares in the last quarter. Hedge funds and other institutional investors own 55.91% of the company’s stock.

Arcos Dorados Stock Down 0.8%

NYSE:ARCO opened at $8.82 on Friday. The company has a debt-to-equity ratio of 1.32, a quick ratio of 0.81 and a current ratio of 0.89. Arcos Dorados Holdings Inc. has a fifty-two week low of $6.51 and a fifty-two week high of $8.98. The firm has a 50-day simple moving average of $8.00 and a two-hundred day simple moving average of $7.42.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on ARCO. Weiss Ratings reiterated a “hold (c-)” rating on shares of Arcos Dorados in a research note on Monday, December 29th. JPMorgan Chase & Co. decreased their target price on shares of Arcos Dorados from $8.80 to $8.70 and set a “neutral” rating for the company in a research note on Tuesday, November 11th. Zacks Research upgraded shares of Arcos Dorados from a “strong sell” rating to a “hold” rating in a report on Friday, November 21st. Finally, Wall Street Zen raised Arcos Dorados from a “hold” rating to a “buy” rating in a research report on Saturday, November 15th. Three analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $8.70.

About Arcos Dorados

Arcos Dorados Holdings Inc is the largest independent McDonald’s franchisee in the world, operating under an exclusive license agreement with McDonald’s Corporation. The company develops, owns and operates quick-service restaurants, offering the full McDonald’s menu, including hamburgers, chicken sandwiches, salads, sides, desserts and McCafé beverages. In addition to restaurant operations, Arcos Dorados manages supply chain logistics, property development, training and support services for its franchise network.

Headquartered in Montevideo, Uruguay, Arcos Dorados serves 20 markets across Latin America and the Caribbean, including Argentina, Brazil, Chile, Colombia, Mexico, Puerto Rico and Uruguay.