Point72 Asset Management L.P. Acquires 71,300 Shares of Arcos Dorados Holdings Inc. (NYSE:ARCO)

Point72 Asset Management L.P. lifted its stake in shares of Arcos Dorados Holdings Inc. (NYSE:ARCO - Free Report) by 250.2% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 99,800 shares of the restaurant operator's stock after purchasing an additional 71,300 shares during the quarter. Point72 Asset Management L.P.'s holdings in Arcos Dorados were worth $870,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Quarry LP lifted its stake in shares of Arcos Dorados by 431.0% in the 2nd quarter. Quarry LP now owns 3,239 shares of the restaurant operator's stock valued at $29,000 after acquiring an additional 2,629 shares during the last quarter. Bank of New York Mellon Corp bought a new position in Arcos Dorados in the second quarter valued at about $93,000. nVerses Capital LLC acquired a new stake in shares of Arcos Dorados during the second quarter valued at about $105,000. Blue Trust Inc. grew its holdings in shares of Arcos Dorados by 24.6% during the second quarter. Blue Trust Inc. now owns 12,307 shares of the restaurant operator's stock worth $111,000 after purchasing an additional 2,427 shares during the last quarter. Finally, MQS Management LLC acquired a new position in shares of Arcos Dorados in the second quarter valued at approximately $116,000. Institutional investors own 55.91% of the company's stock.

Arcos Dorados Stock Performance

NYSE:ARCO traded up $0.12 during trading on Wednesday, reaching $8.14. The company's stock had a trading volume of 859,345 shares, compared to its average volume of 1,217,583. Arcos Dorados Holdings Inc. has a 12 month low of $7.86 and a 12 month high of $13.20. The firm has a market cap of $1.71 billion, a price-to-earnings ratio of 11.45, a price-to-earnings-growth ratio of 3.67 and a beta of 1.12. The firm has a 50 day moving average of $8.83 and a 200-day moving average of $9.07. The company has a debt-to-equity ratio of 1.40, a quick ratio of 0.57 and a current ratio of 0.63.

Arcos Dorados (NYSE:ARCO - Get Free Report) last posted its quarterly earnings data on Wednesday, November 13th. The restaurant operator reported $0.17 earnings per share (EPS) for the quarter, topping 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 business had revenue of $1.13 billion during the quarter, compared to the consensus estimate of $1.13 billion. During the same quarter last year, the company posted $0.30 earnings per share. The firm's quarterly revenue was up .8% compared to the same quarter last year. Research analysts expect that Arcos Dorados Holdings Inc. will post 0.65 EPS for the current fiscal year.

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 on the stock in a report on Friday, September 13th.

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.