Charles Schwab Investment Management Inc. Reduces Stock Position in Arcos Dorados Holdings Inc. (NYSE:ARCO)

Charles Schwab Investment Management Inc. reduced its stake in Arcos Dorados Holdings Inc. (NYSE:ARCO - Free Report) by 32.0% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 227,266 shares of the restaurant operator's stock after selling 106,992 shares during the quarter. Charles Schwab Investment Management Inc. owned approximately 0.11% of Arcos Dorados worth $1,982,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Quarry LP grew its holdings in shares of Arcos Dorados by 431.0% during the 2nd quarter. Quarry LP now owns 3,239 shares of the restaurant operator's stock worth $29,000 after purchasing an additional 2,629 shares during the period. Bank of New York Mellon Corp purchased a new position in Arcos Dorados during the second quarter worth 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. raised its stake in shares of Arcos Dorados by 24.6% in the 2nd quarter. Blue Trust Inc. now owns 12,307 shares of the restaurant operator's stock valued at $111,000 after acquiring an additional 2,427 shares during the period. Finally, MQS Management LLC acquired a new position in shares of Arcos Dorados in the 2nd quarter worth approximately $116,000. 55.91% of the stock is owned by institutional investors and hedge funds.

Arcos Dorados Trading Down 1.5 %

NYSE ARCO traded down $0.12 during trading on Tuesday, hitting $7.80. The stock had a trading volume of 2,287,740 shares, compared to its average volume of 1,232,140. The company has a market capitalization of $1.64 billion, a PE ratio of 11.13, a PEG ratio of 3.69 and a beta of 1.12. Arcos Dorados Holdings Inc. has a twelve month low of $7.66 and a twelve month high of $13.20. 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 50 day moving average price of $8.69 and a 200 day moving average price of $9.02.

Arcos Dorados (NYSE:ARCO - Get Free Report) last released 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 company had revenue of $1.13 billion for the quarter, compared to analyst estimates of $1.13 billion. Arcos Dorados had a net margin of 3.25% and a return on equity of 29.74%. The firm's quarterly revenue was up .8% on a year-over-year basis. During the same period in the prior year, the business earned $0.30 EPS. As a group, equities research analysts forecast that Arcos Dorados Holdings Inc. will post 0.65 earnings per share for the current year.

Wall Street Analyst Weigh In

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

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.