Navellier & Associates Inc. Grows Holdings in Arcos Dorados Holdings Inc. (NYSE:ARCO)

Navellier & Associates Inc. raised its stake in Arcos Dorados Holdings Inc. (NYSE:ARCO) by 23.6% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 27,500 shares of the restaurant operator’s stock after acquiring an additional 5,242 shares during the quarter. Navellier & Associates Inc.’s holdings in Arcos Dorados were worth $214,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Bank of New York Mellon Corp lifted its stake in shares of 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 buying an additional 1,830 shares in the last quarter. Raymond James Financial Inc. bought a new stake in Arcos Dorados during the 4th quarter worth approximately $154,000. Corient Private Wealth LLC bought a new stake in Arcos Dorados during the 4th quarter worth approximately $184,000. Quantbot Technologies LP bought a new position in shares of Arcos Dorados in the 4th quarter worth $129,000. Finally, Virtu Financial LLC bought a new position in shares of Arcos Dorados in the 4th quarter worth $90,000. 55.91% of the stock is currently owned by hedge funds and other institutional investors.

Arcos Dorados Price Performance

Shares of Arcos Dorados stock opened at $7.21 on Friday. The firm has a market cap of $1.52 billion, a PE ratio of 11.08 and a beta of 0.63. Arcos Dorados Holdings Inc. has a 12-month low of $6.66 and a 12-month high of $10.55. The company has a quick ratio of 0.81, a current ratio of 0.86 and a debt-to-equity ratio of 1.80. The company’s fifty day simple moving average is $7.52 and its two-hundred day simple moving average is $7.68.

Arcos Dorados (NYSE:ARCO) last announced its quarterly earnings results on Wednesday, May 14th. The restaurant operator reported $0.07 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.06). Arcos Dorados had a return on equity of 26.70% and a net margin of 3.00%. The firm had revenue of $1.08 billion during the quarter, compared to the consensus estimate of $1.02 billion. During the same period last year, the business earned $0.14 EPS. Arcos Dorados’s revenue was down .4% on a year-over-year basis. As a group, equities analysts expect that Arcos Dorados Holdings Inc. will post 0.63 EPS for the current year.

Arcos Dorados Cuts Dividend

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

Analysts Set New Price Targets

Separately, JPMorgan Chase & Co. lowered shares of Arcos Dorados from an “overweight” rating to a “neutral” rating and reduced their target price for the company from $10.50 to $8.80 in a 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.