Arcos Dorados Holdings Inc. (NYSE:ARCO) Shares Sold by JPMorgan Chase & Co.

JPMorgan Chase & Co. trimmed its position in shares of Arcos Dorados Holdings Inc. (NYSE:ARCO - Free Report) by 23.9% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,007,043 shares of the restaurant operator's stock after selling 2,202,926 shares during the period. JPMorgan Chase & Co. owned approximately 3.33% of Arcos Dorados worth $51,011,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also modified their holdings of the company. Rockefeller Capital Management L.P. grew its position in Arcos Dorados by 12.5% in the 3rd quarter. Rockefeller Capital Management L.P. now owns 206,953 shares of the restaurant operator's stock valued at $1,805,000 after acquiring an additional 22,954 shares during the last quarter. Verition Fund Management LLC grew its position in Arcos Dorados by 6.2% in the 3rd quarter. Verition Fund Management LLC now owns 61,867 shares of the restaurant operator's stock valued at $539,000 after acquiring an additional 3,588 shares during the last quarter. Point72 Asset Management L.P. lifted its holdings in shares of Arcos Dorados by 250.2% in the 3rd quarter. Point72 Asset Management L.P. now owns 99,800 shares of the restaurant operator's stock worth $870,000 after buying an additional 71,300 shares during the period. Quarry LP lifted its holdings in shares of 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 buying an additional 8,863 shares during the period. Finally, Stifel Financial Corp lifted its holdings in shares of Arcos Dorados by 18.8% in the 3rd quarter. Stifel Financial Corp now owns 55,007 shares of the restaurant operator's stock worth $480,000 after buying an additional 8,690 shares during the period. 55.91% of the stock is owned by hedge funds and other institutional investors.

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Analyst Upgrades and Downgrades

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

Arcos Dorados Stock Down 3.9 %

Arcos Dorados stock traded down $0.28 during midday trading on Thursday, reaching $6.92. The company's stock had a trading volume of 1,335,968 shares, compared to its average volume of 1,351,153. The stock's 50-day simple moving average is $7.97 and its 200-day simple moving average is $8.17. 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 Holdings Inc. has a 52-week low of $6.66 and a 52-week high of $11.49. The stock has a market capitalization of $1.46 billion, a P/E ratio of 9.89 and a beta of 0.69.

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

Arcos Dorados Announces Dividend

The business also recently announced 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. The ex-dividend date of this dividend is Monday, December 22nd. This represents a $0.24 annualized dividend and a yield of 3.47%. 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.