Allspring Global Investments Holdings LLC Sells 80,000 Shares of Arcos Dorados Holdings Inc. (NYSE:ARCO)

Allspring Global Investments Holdings LLC decreased its position in Arcos Dorados Holdings Inc. (NYSE:ARCO) by 14.8% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 462,127 shares of the restaurant operator’s stock after selling 80,000 shares during the quarter. Allspring Global Investments Holdings LLC owned approximately 0.22% of Arcos Dorados worth $5,139,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. Perpetual Ltd bought a new position in Arcos Dorados during the first quarter valued at about $49,647,000. Fourth Sail Capital LP bought a new position in Arcos Dorados during the fourth quarter valued at about $22,192,000. TimesSquare Capital Management LLC grew its position in Arcos Dorados by 8.1% during the third quarter. TimesSquare Capital Management LLC now owns 1,462,000 shares of the restaurant operator’s stock valued at $13,831,000 after buying an additional 109,600 shares during the period. Axiom Investors LLC DE grew its position in Arcos Dorados by 30.4% during the fourth quarter. Axiom Investors LLC DE now owns 1,126,000 shares of the restaurant operator’s stock valued at $14,289,000 after buying an additional 262,390 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. grew its position in Arcos Dorados by 0.6% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 968,196 shares of the restaurant operator’s stock valued at $12,286,000 after buying an additional 6,079 shares during the period. Institutional investors own 55.91% of the company’s stock.

Arcos Dorados Price Performance

ARCO traded up $0.06 on Tuesday, reaching $9.06. The company had a trading volume of 96,174 shares, compared to its average volume of 1,187,353. The company has a market cap of $1.91 billion, a price-to-earnings ratio of 11.10, a P/E/G ratio of 1.57 and a beta of 1.21. Arcos Dorados Holdings Inc. has a 52-week low of $8.59 and a 52-week high of $13.20. The business has a 50 day simple moving average of $10.03 and a 200 day simple moving average of $11.17. The company has a debt-to-equity ratio of 1.47, a quick ratio of 0.60 and a current ratio of 0.66.

Arcos Dorados (NYSE:ARCO) last posted its quarterly earnings results on Wednesday, May 15th. The restaurant operator reported $0.14 EPS for the quarter, missing the consensus estimate of $0.16 by ($0.02). The business had revenue of $1.10 billion for the quarter, compared to analysts’ expectations of $1.02 billion. Arcos Dorados had a return on equity of 38.57% and a net margin of 3.90%. The company’s revenue was up 11.0% compared to the same quarter last year. During the same period last year, the business posted $0.18 earnings per share. As a group, sell-side analysts anticipate that Arcos Dorados Holdings Inc. will post 0.88 EPS for the current year.

Wall Street Analyst Weigh In

Separately, StockNews.com lowered shares of Arcos Dorados from a “buy” rating to a “hold” rating in a research report on Friday, May 24th. One research analyst has rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, Arcos Dorados currently has a consensus rating of “Moderate Buy” and an average price target of $13.83.

Arcos Dorados Company 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.