JPMorgan Chase & Co. Sells 3,576,752 Shares of Arcos Dorados Holdings Inc. (NYSE:ARCO)

JPMorgan Chase & Co. lessened its holdings in shares of Arcos Dorados Holdings Inc. (NYSE:ARCO) by 28.0% in the third quarter, according to its most recent filing with the SEC. The firm owned 9,209,969 shares of the restaurant operator’s stock after selling 3,576,752 shares during the period. JPMorgan Chase & Co.’s holdings in Arcos Dorados were worth $80,311,000 as of its most recent filing with the SEC.

A number of other large investors also recently made changes to their positions in ARCO. Fourth Sail Capital LP acquired a new stake in shares of Arcos Dorados during the second quarter worth $16,463,000. Thompson Siegel & Walmsley LLC acquired a new position in shares of Arcos Dorados during the 3rd quarter worth about $1,557,000. Franklin Resources Inc. acquired a new position in shares of Arcos Dorados during the 3rd quarter worth about $12,101,000. Diamond Hill Capital Management Inc. bought a new stake in shares of Arcos Dorados in the 3rd quarter valued at about $925,000. Finally, Marshall Wace LLP bought a new position in Arcos Dorados during the 2nd quarter worth approximately $7,128,000. Institutional investors and hedge funds own 55.91% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Arcos Dorados Trading Up 3.0 %

NYSE ARCO opened at $7.50 on Friday. The company has a debt-to-equity ratio of 1.40, a current ratio of 0.63 and a quick ratio of 0.57. The stock’s 50-day moving average is $8.16 and its 200-day moving average is $8.84. Arcos Dorados Holdings Inc. has a one year low of $7.02 and a one year high of $13.20. The firm has a market cap of $1.58 billion, a P/E ratio of 10.71, a P/E/G ratio of 3.69 and a beta of 1.12.

Arcos Dorados (NYSE:ARCO) last announced its quarterly earnings results on Wednesday, November 13th. The restaurant operator reported $0.17 earnings per share for the quarter, beating analysts’ consensus estimates of $0.16 by $0.01. Arcos Dorados had a net margin of 3.25% and a return on equity of 29.74%. The firm had revenue of $1.13 billion for the quarter, compared to analyst estimates of $1.13 billion. During the same quarter in the previous year, the firm posted $0.30 earnings per share. The business’s revenue was up .8% on a year-over-year basis. Sell-side analysts anticipate that Arcos Dorados Holdings Inc. will post 0.65 earnings per share for the current fiscal year.

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.