Arcos Dorados (NYSE:ARCO) Downgraded to “Hold” at StockNews.com

StockNews.com downgraded shares of Arcos Dorados (NYSE:ARCO) from a buy rating to a hold rating in a report released on Tuesday morning.

ARCO has been the topic of several other reports. Jefferies Financial Group assumed coverage on Arcos Dorados in a research report on Friday, December 1st. They set a buy rating and a $15.00 price target on the stock. TheStreet upgraded Arcos Dorados from a c+ rating to a b- rating in a research report on Tuesday, November 28th. One equities research analyst has rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of Moderate Buy and a consensus price target of $13.38.

Arcos Dorados Price Performance

NYSE ARCO opened at $11.12 on Tuesday. The firm’s 50-day simple moving average is $11.81 and its two-hundred day simple moving average is $11.17. Arcos Dorados has a 52 week low of $7.01 and a 52 week high of $13.20. The company has a market cap of $2.34 billion, a PE ratio of 13.08, a price-to-earnings-growth ratio of 0.91 and a beta of 1.27. The company has a quick ratio of 0.66, a current ratio of 0.72 and a debt-to-equity ratio of 1.38.

Arcos Dorados Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Monday, December 23rd will be given a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a dividend yield of 2.16%. The ex-dividend date is Monday, December 23rd. Arcos Dorados’s dividend payout ratio is presently 28.24%.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of ARCO. Advisor Group Holdings Inc. increased its position in shares of Arcos Dorados by 64.3% in the first quarter. Advisor Group Holdings Inc. now owns 28,831 shares of the restaurant operator’s stock worth $235,000 after purchasing an additional 11,288 shares during the last quarter. XTX Topco Ltd bought a new position in shares of Arcos Dorados in the first quarter worth approximately $209,000. Renaissance Technologies LLC bought a new position in shares of Arcos Dorados in the first quarter worth approximately $2,946,000. UBS Group AG increased its position in shares of Arcos Dorados by 925.1% in the first quarter. UBS Group AG now owns 320,597 shares of the restaurant operator’s stock worth $2,606,000 after purchasing an additional 289,323 shares during the last quarter. Finally, Invesco Ltd. increased its position in shares of Arcos Dorados by 12.5% in the first quarter. Invesco Ltd. now owns 21,962,867 shares of the restaurant operator’s stock worth $178,559,000 after purchasing an additional 2,435,111 shares during the last quarter. 55.91% of the stock is currently owned by institutional investors.

About Arcos Dorados

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.