Northern Trust Corp raised its stake in Arcos Dorados Holding Inc (NYSE:ARCO) by 50.4% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 321,205 shares of the restaurant operator’s stock after purchasing an additional 107,657 shares during the period. Northern Trust Corp owned 0.16% of Arcos Dorados worth $2,339,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Inlet Private Wealth LLC boosted its holdings in Arcos Dorados by 6.4% in the second quarter. Inlet Private Wealth LLC now owns 149,800 shares of the restaurant operator’s stock worth $1,240,000 after acquiring an additional 9,000 shares in the last quarter. Virginia Retirement Systems ET AL acquired a new stake in Arcos Dorados in the second quarter worth about $100,000. Diligent Investors LLC acquired a new stake in Arcos Dorados in the second quarter worth about $146,000. O Keefe Stevens Advisory Inc. lifted its holdings in shares of Arcos Dorados by 5.3% during the second quarter. O Keefe Stevens Advisory Inc. now owns 475,734 shares of the restaurant operator’s stock worth $3,463,000 after purchasing an additional 24,130 shares during the period. Finally, Marshall Wace North America L.P. acquired a new stake in shares of Arcos Dorados during the first quarter worth about $465,000. Institutional investors own 38.09% of the company’s stock.
ARCO has been the subject of a number of research reports. ValuEngine raised Arcos Dorados from a “sell” rating to a “hold” rating in a report on Monday, October 7th. Bradesco Corretora raised Arcos Dorados from a “neutral” rating to an “outperform” rating and lifted their target price for the stock from $9.00 to $11.00 in a report on Friday, July 26th. Zacks Investment Research downgraded Arcos Dorados from a “hold” rating to a “sell” rating in a report on Friday. Finally, JPMorgan Chase & Co. initiated coverage on Arcos Dorados in a report on Wednesday, July 10th. They set an “overweight” rating and a $8.50 target price for the company. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating and two have assigned a buy rating to the company. Arcos Dorados currently has a consensus rating of “Hold” and a consensus target price of $9.75.
Arcos Dorados (NYSE:ARCO) last released its earnings results on Wednesday, August 7th. The restaurant operator reported $0.05 EPS for the quarter, missing the Zacks’ consensus estimate of $0.06 by ($0.01). Arcos Dorados had a return on equity of 14.97% and a net margin of 1.97%. The firm had revenue of $723.75 million for the quarter, compared to analyst estimates of $736.28 million. Research analysts anticipate that Arcos Dorados Holding Inc will post 0.29 EPS for the current fiscal year.
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, Curaçao, Ecuador, French Guiana, Guadeloupe, Martinique, Mexico, Panama, Peru, Puerto Rico, Trinidad and Tobago, Uruguay, the United States Virgin Islands of St.
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