Charles Schwab Investment Management Inc. Sells 111,602 Shares of Arcos Dorados Holdings Inc. (NYSE:ARCO)

Charles Schwab Investment Management Inc. cut its holdings in Arcos Dorados Holdings Inc. (NYSE:ARCO - Free Report) by 49.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 115,664 shares of the restaurant operator's stock after selling 111,602 shares during the period. Charles Schwab Investment Management Inc. owned 0.05% of Arcos Dorados worth $842,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Rockefeller Capital Management L.P. lifted its position in Arcos Dorados by 12.5% during the third quarter. Rockefeller Capital Management L.P. now owns 206,953 shares of the restaurant operator's stock valued at $1,805,000 after purchasing an additional 22,954 shares in the last quarter. Verition Fund Management LLC raised its stake in Arcos Dorados by 6.2% during the 3rd quarter. Verition Fund Management LLC now owns 61,867 shares of the restaurant operator's stock worth $539,000 after acquiring an additional 3,588 shares during the period. Itau Unibanco Holding S.A. bought a new stake in Arcos Dorados during the 3rd quarter worth approximately $187,000. Point72 Asset Management L.P. lifted its holdings in Arcos Dorados by 250.2% during the third quarter. Point72 Asset Management L.P. now owns 99,800 shares of the restaurant operator's stock valued at $870,000 after purchasing an additional 71,300 shares in the last quarter. Finally, Quarry LP boosted its position in shares of Arcos Dorados by 273.6% in the third quarter. Quarry LP now owns 12,102 shares of the restaurant operator's stock worth $106,000 after purchasing an additional 8,863 shares during the period. 55.91% of the stock is currently owned by hedge funds and other institutional investors.

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Wall Street Analysts Forecast Growth

Separately, StockNews.com downgraded shares of Arcos Dorados from a "buy" rating to a "hold" rating in a research report on Wednesday, March 26th.

Arcos Dorados Price Performance

Shares of ARCO traded down $0.12 during midday trading on Thursday, hitting $8.12. 96,468 shares of the company traded hands, compared to its average volume of 1,324,851. Arcos Dorados Holdings Inc. has a 52 week low of $7.02 and a 52 week high of $11.49. The company has a debt-to-equity ratio of 1.40, a quick ratio of 0.57 and a current ratio of 0.63. The firm has a 50 day moving average of $8.02 and a 200-day moving average of $8.23. The stock has a market cap of $1.71 billion, a price-to-earnings ratio of 11.60 and a beta of 1.09.

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

Arcos Dorados Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 26th. Investors of record on Monday, December 22nd will be paid a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a yield of 2.96%. The ex-dividend date of this dividend is Monday, December 22nd. Arcos Dorados's payout ratio is 33.33%.

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.