1,387,763 Shares in Arcos Dorados Holdings Inc. (NYSE:ARCO) Purchased by Franklin Resources Inc.

Franklin Resources Inc. purchased a new stake in Arcos Dorados Holdings Inc. (NYSE:ARCO) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 1,387,763 shares of the restaurant operator’s stock, valued at approximately $12,101,000. Franklin Resources Inc. owned 0.66% of Arcos Dorados at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of ARCO. Private Management Group Inc. grew its position in shares of Arcos Dorados by 8.5% during the 3rd quarter. Private Management Group Inc. now owns 2,352,659 shares of the restaurant operator’s stock valued at $20,515,000 after acquiring an additional 184,155 shares during the period. Fourth Sail Capital LP acquired a new stake in Arcos Dorados in the second quarter valued at approximately $16,463,000. Perpetual Ltd increased its position in shares of Arcos Dorados by 15.8% in the third quarter. Perpetual Ltd now owns 1,636,470 shares of the restaurant operator’s stock valued at $14,270,000 after buying an additional 223,496 shares in the last quarter. Van ECK Associates Corp raised its stake in shares of Arcos Dorados by 6.3% during the 3rd quarter. Van ECK Associates Corp now owns 876,300 shares of the restaurant operator’s stock worth $7,852,000 after buying an additional 52,289 shares during the period. Finally, Managed Asset Portfolios LLC purchased a new position in shares of Arcos Dorados during the 3rd quarter valued at approximately $7,389,000. Hedge funds and other institutional investors own 55.91% of the company’s stock.

Analyst Ratings Changes

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

Arcos Dorados Trading Up 2.5 %

ARCO stock opened at $7.50 on Friday. The business’s 50-day moving average is $8.52 and its 200 day moving average is $8.96. Arcos Dorados Holdings Inc. has a 12-month low of $7.20 and a 12-month high of $13.20. The stock has a market cap of $1.58 billion, a price-to-earnings ratio of 10.71, a PEG ratio of 3.69 and a beta of 1.12. 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 (NYSE:ARCO) last issued its quarterly earnings results on Wednesday, November 13th. The restaurant operator reported $0.17 EPS for the quarter, topping 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 firm had revenue of $1.13 billion during the quarter, compared to analysts’ expectations of $1.13 billion. During the same period in the previous year, the business earned $0.30 earnings per share. The firm’s revenue for the quarter was up .8% on a year-over-year basis. On average, sell-side analysts anticipate that Arcos Dorados Holdings Inc. will post 0.65 EPS 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.