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

JPMorgan Chase & Co. trimmed its holdings in Arcos Dorados Holdings Inc. (NYSE:ARCO - Free Report) by 28.0% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 9,209,969 shares of the restaurant operator's stock after selling 3,576,752 shares during the period. JPMorgan Chase & Co. owned about 4.37% of Arcos Dorados worth $80,311,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Squarepoint Ops LLC lifted its stake in Arcos Dorados by 9.0% during the second quarter. Squarepoint Ops LLC now owns 24,690 shares of the restaurant operator's stock worth $222,000 after purchasing an additional 2,034 shares during the last quarter. Bfsg LLC lifted its position in shares of Arcos Dorados by 13.8% in the 3rd quarter. Bfsg LLC now owns 18,650 shares of the restaurant operator's stock worth $163,000 after buying an additional 2,255 shares during the last quarter. Quarry LP lifted its position in shares of Arcos Dorados by 431.0% in the 2nd quarter. Quarry LP now owns 3,239 shares of the restaurant operator's stock worth $29,000 after buying an additional 2,629 shares during the last quarter. Verition Fund Management LLC boosted its holdings in shares of 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 buying an additional 3,588 shares during the period. Finally, Aubrey Capital Management Ltd raised its stake in Arcos Dorados by 14.4% during the third quarter. Aubrey Capital Management Ltd now owns 28,676 shares of the restaurant operator's stock worth $250,000 after acquiring an additional 3,618 shares during the period. 55.91% of the stock is currently owned by hedge funds and other institutional investors.

Arcos Dorados Stock Performance

NYSE ARCO traded down $0.11 during trading hours on Friday, hitting $7.39. The company had a trading volume of 800,046 shares, compared to its average volume of 1,359,873. 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 market cap of $1.56 billion, a P/E ratio of 10.56, a price-to-earnings-growth ratio of 3.69 and a beta of 1.13. Arcos Dorados Holdings Inc. has a fifty-two week low of $7.02 and a fifty-two week high of $13.20. The business has a fifty day simple moving average of $8.12 and a 200-day simple moving average of $8.83.

Arcos Dorados (NYSE:ARCO - Get Free Report) last released its quarterly earnings data on Wednesday, November 13th. The restaurant operator reported $0.17 earnings per share for the quarter, topping analysts' consensus estimates of $0.16 by $0.01. Arcos Dorados had a net margin of 3.25% and a return on equity of 29.74%. The business had revenue of $1.13 billion for the quarter, compared to analysts' expectations of $1.13 billion. During the same quarter last year, the company earned $0.30 EPS. The company's revenue for the quarter was up .8% compared to the same quarter last year. Equities analysts predict that Arcos Dorados Holdings Inc. will post 0.65 EPS for the current year.

Analyst Upgrades and Downgrades

Separately, JPMorgan Chase & Co. decreased their target price on Arcos Dorados from $14.00 to $12.00 and set an "overweight" rating for the company 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.