Arcos Dorados Holdings Inc. (NYSE:ARCO) Shares Sold by TimesSquare Capital Management LLC

TimesSquare Capital Management LLC reduced its stake in Arcos Dorados Holdings Inc. (NYSE:ARCO) by 20.3% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 1,164,980 shares of the restaurant operator’s stock after selling 297,020 shares during the quarter. TimesSquare Capital Management LLC owned 0.55% of Arcos Dorados worth $14,784,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the stock. HBK Sorce Advisory LLC increased its holdings in shares of Arcos Dorados by 29.0% in the 4th quarter. HBK Sorce Advisory LLC now owns 17,672 shares of the restaurant operator’s stock valued at $224,000 after acquiring an additional 3,971 shares during the last quarter. Clough Capital Partners L P purchased a new stake in Arcos Dorados during the third quarter worth about $195,000. Avalon Capital Management acquired a new stake in shares of Arcos Dorados in the 4th quarter worth approximately $294,000. Raymond James & Associates grew its holdings in Arcos Dorados by 97.9% in the fourth quarter. Raymond James & Associates now owns 37,050 shares of the restaurant operator’s stock valued at $470,000 after purchasing an additional 18,327 shares during the last quarter. Finally, Oliver Luxxe Assets LLC purchased a new position in Arcos Dorados during the 3rd quarter valued at about $464,000. Hedge funds and other institutional investors own 55.91% of the company’s stock.

Arcos Dorados Trading Up 0.9 %

NYSE ARCO traded up $0.10 during mid-day trading on Friday, reaching $11.19. 13,480 shares of the stock were exchanged, compared to its average volume of 1,068,174. The stock has a market capitalization of $2.36 billion, a PE ratio of 13.03, a PEG ratio of 0.94 and a beta of 1.27. The company has a debt-to-equity ratio of 1.38, a quick ratio of 0.66 and a current ratio of 0.72. Arcos Dorados Holdings Inc. has a 1-year low of $8.32 and a 1-year high of $13.20. The business’s fifty day simple moving average is $11.13 and its 200 day simple moving average is $11.45.

Arcos Dorados (NYSE:ARCO) last posted its quarterly earnings data on Wednesday, March 13th. The restaurant operator reported $0.27 earnings per share (EPS) for the quarter. The business had revenue of $1.16 billion for the quarter. Arcos Dorados had a return on equity of 43.72% and a net margin of 4.18%. On average, research analysts anticipate that Arcos Dorados Holdings Inc. will post 0.95 earnings per share for the current fiscal year.

Arcos Dorados Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Monday, December 23rd will be paid a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a yield of 2.14%. The ex-dividend date of this dividend is Monday, December 23rd. Arcos Dorados’s dividend payout ratio is currently 28.24%.

Wall Street Analyst Weigh In

Separately, StockNews.com cut Arcos Dorados from a “buy” rating to a “hold” rating in a report on Thursday, April 4th. One research analyst has rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $13.38.

Arcos Dorados 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.