BNP Paribas Financial Markets Trims Stake in Arcos Dorados Holdings Inc. (NYSE:ARCO)

BNP Paribas Financial Markets cut its holdings in Arcos Dorados Holdings Inc. (NYSE:ARCO - Free Report) by 5.5% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,494,684 shares of the restaurant operator's stock after selling 87,219 shares during the quarter. BNP Paribas Financial Markets owned 0.71% of Arcos Dorados worth $13,034,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Fourth Sail Capital LP acquired a new stake in shares of Arcos Dorados in the second quarter valued at about $16,463,000. Thompson Siegel & Walmsley LLC acquired a new stake in Arcos Dorados in the 3rd quarter worth about $1,557,000. Diamond Hill Capital Management Inc. purchased a new stake in Arcos Dorados during the 3rd quarter worth approximately $925,000. Marshall Wace LLP acquired a new position in shares of Arcos Dorados during the second quarter valued at approximately $7,128,000. Finally, Catalyst Capital Advisors LLC purchased a new position in shares of Arcos Dorados in the third quarter valued at approximately $698,000. 55.91% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Separately, JPMorgan Chase & Co. lowered their price target on shares of Arcos Dorados from $14.00 to $12.00 and set an "overweight" rating on the stock in a research report on Friday, September 13th.

Arcos Dorados Price Performance

Shares of NYSE:ARCO traded up $0.08 during midday trading on Monday, hitting $8.17. The company had a trading volume of 1,075,944 shares, compared to its average volume of 1,218,070. Arcos Dorados Holdings Inc. has a twelve month low of $7.86 and a twelve month high of $13.20. The stock has a market cap of $1.72 billion, a price-to-earnings ratio of 11.67, a price-to-earnings-growth ratio of 2.55 and a beta of 1.16. The company has a debt-to-equity ratio of 1.40, a current ratio of 0.63 and a quick ratio of 0.57. The business's 50-day simple moving average is $8.91 and its 200-day simple moving average is $9.17.

Arcos Dorados (NYSE:ARCO - Get Free Report) last issued its earnings results 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. The business had revenue of $1.13 billion during the quarter, compared to the consensus estimate of $1.13 billion. Arcos Dorados had a return on equity of 29.74% and a net margin of 3.25%. The company's revenue for the quarter was up .8% on a year-over-year basis. During the same period last year, the company earned $0.30 EPS. On average, research analysts predict that Arcos Dorados Holdings Inc. will post 0.66 earnings per share for the current year.

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.