Allspring Global Investments Holdings LLC Sells 317,700 Shares of Arcos Dorados Holdings Inc. (NYSE:ARCO)

Allspring Global Investments Holdings LLC lessened its stake in Arcos Dorados Holdings Inc. (NYSE:ARCO) by 68.7% in the second quarter, Holdings Channel.com reports. The institutional investor owned 144,427 shares of the restaurant operator’s stock after selling 317,700 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Arcos Dorados were worth $1,300,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the stock. Perpetual Ltd purchased a new position in Arcos Dorados in the first quarter worth $49,647,000. Absolute Gestao de Investimentos Ltda. bought a new stake in Arcos Dorados during the first quarter worth about $22,586,000. BNP Paribas Financial Markets boosted its holdings in shares of Arcos Dorados by 2.4% in the 1st quarter. BNP Paribas Financial Markets now owns 1,612,824 shares of the restaurant operator’s stock worth $17,935,000 after purchasing an additional 37,218 shares in the last quarter. TimesSquare Capital Management LLC increased its position in shares of Arcos Dorados by 25.8% during the 1st quarter. TimesSquare Capital Management LLC now owns 1,466,000 shares of the restaurant operator’s stock valued at $16,302,000 after purchasing an additional 301,020 shares during the last quarter. Finally, Aubrey Capital Management Ltd purchased a new position in shares of Arcos Dorados during the 1st quarter valued at about $13,661,000. Institutional investors own 55.91% of the company’s stock.

Arcos Dorados Stock Performance

Arcos Dorados stock opened at $8.61 on Wednesday. The firm has a fifty day simple moving average of $9.37 and a two-hundred day simple moving average of $10.23. The company has a quick ratio of 0.57, a current ratio of 0.63 and a debt-to-equity ratio of 1.52. Arcos Dorados Holdings Inc. has a twelve month low of $8.52 and a twelve month high of $13.20. The company has a market capitalization of $1.81 billion, a PE ratio of 10.62, a P/E/G ratio of 1.75 and a beta of 1.21.

Arcos Dorados (NYSE:ARCO) last released its quarterly earnings data on Wednesday, August 14th. The restaurant operator reported $0.13 EPS for the quarter, hitting the consensus estimate of $0.13. The firm had revenue of $1.11 billion for the quarter, compared to the consensus estimate of $1.06 billion. Arcos Dorados had a return on equity of 36.55% and a net margin of 3.80%. The company’s quarterly revenue was up 6.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.14 earnings per share. Research analysts expect that Arcos Dorados Holdings Inc. will post 0.77 EPS for the current year.

Wall Street Analysts Forecast Growth

Separately, StockNews.com cut shares of Arcos Dorados from a “buy” rating to a “hold” rating in a research report on Friday, May 24th.

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.