BNP Paribas Financial Markets Reduces Stock Holdings in Arcos Dorados Holdings Inc. (NYSE:ARCO)

BNP Paribas Financial Markets lowered its holdings in Arcos Dorados Holdings Inc. (NYSE:ARCO) by 5.5% during the third quarter, Holdings Channel reports. The fund owned 1,494,684 shares of the restaurant operator’s stock after selling 87,219 shares during the quarter. BNP Paribas Financial Markets’ holdings in Arcos Dorados were worth $13,034,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. Squarepoint Ops LLC grew its position in Arcos Dorados by 9.0% during the 2nd quarter. Squarepoint Ops LLC now owns 24,690 shares of the restaurant operator’s stock worth $222,000 after purchasing an additional 2,034 shares during the period. Americana Partners LLC grew its holdings in Arcos Dorados by 15.0% during the second quarter. Americana Partners LLC now owns 17,204 shares of the restaurant operator’s stock worth $155,000 after acquiring an additional 2,240 shares during the period. Bfsg LLC raised its position in Arcos Dorados by 13.8% during the third quarter. Bfsg LLC now owns 18,650 shares of the restaurant operator’s stock valued at $163,000 after acquiring an additional 2,255 shares in the last quarter. Blue Trust Inc. lifted its holdings in Arcos Dorados by 24.6% in the second quarter. Blue Trust Inc. now owns 12,307 shares of the restaurant operator’s stock valued at $111,000 after acquiring an additional 2,427 shares during the period. Finally, Quarry LP boosted its position in Arcos Dorados by 431.0% in the 2nd quarter. Quarry LP now owns 3,239 shares of the restaurant operator’s stock worth $29,000 after purchasing an additional 2,629 shares in the last quarter. Hedge funds and other institutional investors own 55.91% of the company’s stock.

Analyst Ratings Changes

Separately, JPMorgan Chase & Co. cut their target price on shares of Arcos Dorados from $14.00 to $12.00 and set an “overweight” rating for the company in a report on Friday, September 13th.

Arcos Dorados Trading Down 1.3 %

Shares of Arcos Dorados stock opened at $8.09 on Monday. The firm has a 50-day simple moving average of $8.91 and a two-hundred day simple moving average of $9.18. The company has a debt-to-equity ratio of 1.40, a quick ratio of 0.57 and a current ratio of 0.63. Arcos Dorados Holdings Inc. has a fifty-two week low of $7.86 and a fifty-two week high of $13.20. The company has a market cap of $1.70 billion, a P/E ratio of 11.56, a price-to-earnings-growth ratio of 2.55 and a beta of 1.16.

Arcos Dorados (NYSE:ARCO) last released its quarterly earnings results on Wednesday, November 13th. The restaurant operator reported $0.17 earnings per share for the quarter, topping analysts’ consensus estimates of $0.16 by $0.01. Arcos Dorados had a return on equity of 29.74% and a net margin of 3.25%. The company had revenue of $1.13 billion during the quarter, compared to analysts’ expectations of $1.13 billion. During the same quarter in the prior year, the firm posted $0.30 EPS. Arcos Dorados’s quarterly revenue was up .8% compared to the same quarter last year. As a group, equities analysts predict that Arcos Dorados Holdings Inc. will post 0.66 earnings per share 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, Curacao, Ecuador, French Guiana, Guadeloupe, Martinique, Mexico, Panama, Peru, Puerto Rico, Trinidad and Tobago, Uruguay, the U.S.