Arcos Dorados Holdings Inc. (NYSE:ARCO) Shares Acquired by Diamond Hill Capital Management Inc.

Diamond Hill Capital Management Inc. lifted its position in shares of Arcos Dorados Holdings Inc. (NYSE:ARCO - Free Report) by 73.5% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 184,039 shares of the restaurant operator's stock after buying an additional 77,958 shares during the period. Diamond Hill Capital Management Inc. owned 0.09% of Arcos Dorados worth $1,340,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Emeth Value Capital LLC purchased a new position in Arcos Dorados during the fourth quarter worth approximately $11,190,000. Franklin Resources Inc. purchased a new position in Arcos Dorados during the third quarter worth approximately $12,101,000. Managed Asset Portfolios LLC purchased a new position in Arcos Dorados during the third quarter worth approximately $7,389,000. Private Management Group Inc. raised its stake in Arcos Dorados by 34.7% during the fourth quarter. Private Management Group Inc. now owns 3,167,857 shares of the restaurant operator's stock worth $23,062,000 after purchasing an additional 815,198 shares during the period. Finally, TimesSquare Capital Management LLC raised its stake in Arcos Dorados by 31.6% during the fourth quarter. TimesSquare Capital Management LLC now owns 1,472,490 shares of the restaurant operator's stock worth $10,720,000 after purchasing an additional 353,700 shares during the period. Hedge funds and other institutional investors own 55.91% of the company's stock.

Analyst Ratings Changes

Separately, StockNews.com raised shares of Arcos Dorados from a "hold" rating to a "buy" rating in a research note on Tuesday.

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Arcos Dorados Trading Up 4.4 %

Shares of ARCO stock traded up $0.36 during mid-day trading on Wednesday, reaching $8.51. The company's stock had a trading volume of 2,704,192 shares, compared to its average volume of 1,287,897. The company's 50 day simple moving average is $7.85 and its 200-day simple moving average is $8.26. Arcos Dorados Holdings Inc. has a 12-month low of $7.02 and a 12-month high of $11.49. The company has a quick ratio of 0.57, a current ratio of 0.63 and a debt-to-equity ratio of 1.40. The firm has a market capitalization of $1.79 billion, a PE ratio of 12.15 and a beta of 1.09.

Arcos Dorados (NYSE:ARCO - Get Free Report) last issued its earnings results on Wednesday, March 12th. The restaurant operator reported $0.28 EPS for the quarter, beating analysts' consensus estimates of $0.22 by $0.06. Arcos Dorados had a net margin of 3.25% and a return on equity of 29.74%. The business had revenue of $1.14 billion for the quarter, compared to the consensus estimate of $1.15 billion. On average, research analysts predict that Arcos Dorados Holdings Inc. will post 0.63 EPS for the current fiscal year.

Arcos Dorados Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 26th. Stockholders of record on Monday, December 22nd will be paid a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a dividend yield of 2.82%. The ex-dividend date is Monday, December 22nd. Arcos Dorados's dividend payout ratio is presently 33.33%.

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.