Public Employees Retirement System of Ohio Acquires New Shares in Arcos Dorados Holdings Inc. (NYSE:ARCO)

Public Employees Retirement System of Ohio bought a new position in shares of Arcos Dorados Holdings Inc. (NYSE:ARCO) during the 3rd quarter, HoldingsChannel reports. The institutional investor bought 188,692 shares of the restaurant operator’s stock, valued at approximately $1,645,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Private Management Group Inc. increased its position in shares of Arcos Dorados by 8.5% during the third quarter. Private Management Group Inc. now owns 2,352,659 shares of the restaurant operator’s stock worth $20,515,000 after acquiring an additional 184,155 shares in the last quarter. Fourth Sail Capital LP bought a new position in Arcos Dorados during the 2nd quarter worth about $16,463,000. Perpetual Ltd raised its stake in shares of Arcos Dorados by 15.8% in the 3rd quarter. Perpetual Ltd now owns 1,636,470 shares of the restaurant operator’s stock valued at $14,270,000 after purchasing an additional 223,496 shares during the period. Van ECK Associates Corp lifted its holdings in shares of Arcos Dorados by 6.3% in the third quarter. Van ECK Associates Corp now owns 876,300 shares of the restaurant operator’s stock valued at $7,852,000 after purchasing an additional 52,289 shares in the last quarter. Finally, Managed Asset Portfolios LLC bought a new stake in shares of Arcos Dorados in the third quarter valued at about $7,389,000. 55.91% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

Arcos Dorados Stock Performance

Shares of ARCO opened at $7.23 on Thursday. The company has a current ratio of 0.63, a quick ratio of 0.57 and a debt-to-equity ratio of 1.40. Arcos Dorados Holdings Inc. has a 12 month low of $7.20 and a 12 month high of $13.20. The firm has a fifty day simple moving average of $8.66 and a 200 day simple moving average of $9.00. The stock has a market capitalization of $1.52 billion, a price-to-earnings ratio of 10.33, a PEG ratio of 3.69 and a beta of 1.12.

Arcos Dorados (NYSE:ARCO) last announced its quarterly earnings data on Wednesday, November 13th. The restaurant operator reported $0.17 earnings per share for the quarter, beating the consensus estimate 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 last year, the company earned $0.30 EPS. Arcos Dorados’s revenue for the quarter was up .8% compared to the same quarter last year. Research analysts forecast that Arcos Dorados Holdings Inc. will post 0.65 EPS for the current fiscal year.

Arcos Dorados Profile

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.