Renaissance Group LLC Sells 405,691 Shares of Arcos Dorados Holdings Inc. (NYSE:ARCO)

Renaissance Group LLC lowered its position in Arcos Dorados Holdings Inc. (NYSE:ARCO - Free Report) by 61.2% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 256,885 shares of the restaurant operator's stock after selling 405,691 shares during the period. Renaissance Group LLC owned about 0.12% of Arcos Dorados worth $1,870,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Spire Wealth Management increased its stake in shares of Arcos Dorados by 27.2% in the 4th quarter. Spire Wealth Management now owns 7,210 shares of the restaurant operator's stock worth $52,000 after purchasing an additional 1,540 shares in the last quarter. R Squared Ltd purchased a new stake in Arcos Dorados in the fourth quarter worth about $54,000. Bank of New York Mellon Corp raised its stake in shares of Arcos Dorados by 17.5% in the fourth quarter. Bank of New York Mellon Corp now owns 12,272 shares of the restaurant operator's stock worth $89,000 after buying an additional 1,830 shares during the period. Sanctuary Advisors LLC purchased a new position in shares of Arcos Dorados during the 4th quarter valued at about $90,000. Finally, Virtu Financial LLC bought a new position in shares of Arcos Dorados during the 4th quarter valued at approximately $90,000. Hedge funds and other institutional investors own 55.91% of the company's stock.

Analyst Upgrades and Downgrades

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

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Arcos Dorados Price Performance

ARCO stock traded up $0.02 during trading on Monday, reaching $7.24. The company's stock had a trading volume of 433,742 shares, compared to its average volume of 1,520,657. The company's fifty day moving average is $7.95 and its 200-day moving average is $8.15. Arcos Dorados Holdings Inc. has a 1 year low of $6.66 and a 1 year high of $11.49. The company has a market capitalization of $1.53 billion, a P/E ratio of 10.34 and a beta of 0.69. The company has a quick ratio of 0.57, a current ratio of 0.63 and a debt-to-equity ratio of 1.40.

Arcos Dorados (NYSE:ARCO - Get Free Report) last issued its earnings results on Wednesday, March 12th. The restaurant operator reported $0.28 earnings per share (EPS) 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 company had revenue of $1.14 billion for the quarter, compared to the consensus estimate of $1.15 billion. On average, research analysts expect that Arcos Dorados Holdings Inc. will post 0.63 earnings per share for the current fiscal year.

Arcos Dorados Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, December 26th. Shareholders of record on Monday, December 22nd will be issued a $0.06 dividend. The ex-dividend date of this dividend is Monday, December 22nd. This represents a $0.24 dividend on an annualized basis and a yield of 3.31%. 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.