Clearbridge Investments LLC Lowers Stock Position in Arcos Dorados Holdings Inc. (NYSE:ARCO)

Clearbridge Investments LLC trimmed its holdings in shares of Arcos Dorados Holdings Inc. (NYSE:ARCO - Free Report) by 7.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 876,882 shares of the restaurant operator's stock after selling 74,869 shares during the quarter. Clearbridge Investments LLC owned approximately 0.42% of Arcos Dorados worth $6,384,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Spire Wealth Management boosted its stake in shares of Arcos Dorados by 27.2% in the fourth quarter. Spire Wealth Management now owns 7,210 shares of the restaurant operator's stock worth $52,000 after acquiring an additional 1,540 shares during the last quarter. R Squared Ltd purchased a new stake in Arcos Dorados during the 4th quarter valued at about $54,000. Sanctuary Advisors LLC acquired a new stake in Arcos Dorados in the 4th quarter valued at about $90,000. Quarry LP lifted its stake in Arcos Dorados by 273.6% in the 3rd quarter. Quarry LP now owns 12,102 shares of the restaurant operator's stock worth $106,000 after purchasing an additional 8,863 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its holdings in shares of Arcos Dorados by 17.5% during the 4th quarter. Bank of New York Mellon Corp now owns 12,272 shares of the restaurant operator's stock worth $89,000 after purchasing an additional 1,830 shares during the last quarter. Hedge funds and other institutional investors own 55.91% of the company's stock.

Analysts Set New Price Targets

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

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Arcos Dorados Trading Down 0.9 %

Shares of ARCO traded down $0.07 during mid-day trading on Tuesday, reaching $6.95. The stock had a trading volume of 302,220 shares, compared to its average volume of 1,401,435. Arcos Dorados Holdings Inc. has a 52-week low of $6.70 and a 52-week high of $11.49. The firm has a market cap of $1.46 billion, a price-to-earnings ratio of 9.92 and a beta of 0.69. The business's fifty day moving average is $8.03 and its 200 day moving average is $8.21. The company has a debt-to-equity ratio of 1.40, a current ratio of 0.63 and a quick ratio of 0.57.

Arcos Dorados (NYSE:ARCO - Get Free Report) last posted 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. The business had revenue of $1.14 billion during the quarter, compared to analysts' expectations of $1.15 billion. Arcos Dorados had a net margin of 3.25% and a return on equity of 29.74%. On average, sell-side 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. Shareholders of record on Monday, December 22nd will be given a $0.06 dividend. The ex-dividend date is Monday, December 22nd. This represents a $0.24 dividend on an annualized basis and a yield of 3.46%. Arcos Dorados's dividend payout ratio is currently 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.