Ramirez Asset Management Inc. Lowers Stock Holdings in Arcos Dorados Holdings Inc. (NYSE:ARCO)

Ramirez Asset Management Inc. reduced its position in Arcos Dorados Holdings Inc. (NYSE:ARCO) by 13.1% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 102,256 shares of the restaurant operator’s stock after selling 15,416 shares during the quarter. Ramirez Asset Management Inc.’s holdings in Arcos Dorados were worth $744,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the company. Assenagon Asset Management S.A. bought a new position in Arcos Dorados in the 4th quarter valued at $2,051,000. Franklin Resources Inc. purchased a new stake in shares of Arcos Dorados in the third quarter worth $12,101,000. Diamond Hill Capital Management Inc. raised its position in shares of Arcos Dorados by 73.5% in the fourth quarter. Diamond Hill Capital Management Inc. now owns 184,039 shares of the restaurant operator’s stock worth $1,340,000 after buying an additional 77,958 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its stake in Arcos Dorados by 12.3% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 534,990 shares of the restaurant operator’s stock valued at $3,895,000 after buying an additional 58,453 shares during the period. Finally, Emeth Value Capital LLC purchased a new position in Arcos Dorados during the fourth quarter worth about $11,190,000. Hedge funds and other institutional investors own 55.91% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, StockNews.com cut Arcos Dorados from a “buy” rating to a “hold” rating in a report on Wednesday.

Arcos Dorados Trading Up 2.7 %

Shares of Arcos Dorados stock opened at $8.25 on Friday. The company has a 50 day simple moving average of $7.95 and a two-hundred day simple moving average of $8.24. The firm has a market cap of $1.74 billion, a PE ratio of 11.78 and a beta of 1.09. Arcos Dorados Holdings Inc. has a 1 year low of $7.02 and a 1 year high of $11.49. The company has a debt-to-equity ratio of 1.40, a current ratio of 0.63 and a quick ratio of 0.57.

Arcos Dorados (NYSE:ARCO) last posted its quarterly earnings data on Wednesday, March 12th. The restaurant operator reported $0.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.22 by $0.06. The company had revenue of $1.14 billion during the quarter, compared to the consensus estimate of $1.15 billion. Arcos Dorados had a net margin of 3.25% and a return on equity of 29.74%. Analysts expect that Arcos Dorados Holdings Inc. will post 0.63 earnings per share for the current fiscal year.

Arcos Dorados Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 26th. Stockholders of record on Monday, December 22nd will be given a dividend of $0.06 per share. The ex-dividend date is Monday, December 22nd. This represents a $0.24 annualized dividend and a dividend yield of 2.91%. Arcos Dorados’s dividend payout ratio (DPR) is presently 33.33%.

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.