CIBC World Markets Inc. trimmed its position in Arcos Dorados Holding Inc (NYSE:ARCO) by 18.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 28,172 shares of the restaurant operator’s stock after selling 6,478 shares during the quarter. CIBC World Markets Inc.’s holdings in Arcos Dorados were worth $292,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors have also recently modified their holdings of the company. Neuberger Berman Group LLC acquired a new stake in shares of Arcos Dorados in the third quarter worth $103,000. Virtu Financial LLC acquired a new stake in shares of Arcos Dorados in the third quarter worth $105,000. Stratos Wealth Partners LTD. acquired a new stake in shares of Arcos Dorados in the third quarter worth $110,000. Fox Run Management L.L.C. acquired a new stake in shares of Arcos Dorados in the fourth quarter worth $129,000. Finally, Janney Montgomery Scott LLC acquired a new stake in shares of Arcos Dorados in the third quarter worth $125,000. Institutional investors and hedge funds own 36.31% of the company’s stock.
ARCO has been the subject of a number of analyst reports. HSBC started coverage on shares of Arcos Dorados in a research note on Wednesday, November 15th. They issued a “buy” rating and a $12.00 price objective for the company. Zacks Investment Research raised shares of Arcos Dorados from a “hold” rating to a “buy” rating and set a $11.00 target price on the stock in a research report on Thursday, January 4th. BidaskClub lowered shares of Arcos Dorados from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, November 15th. Finally, TheStreet raised shares of Arcos Dorados from a “c+” rating to a “b” rating in a research report on Tuesday, November 21st. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Arcos Dorados has an average rating of “Buy” and an average target price of $10.90.
Arcos Dorados (NYSE:ARCO) last announced its earnings results on Wednesday, November 8th. The restaurant operator reported $0.11 earnings per share (EPS) for the quarter. Arcos Dorados had a net margin of 2.51% and a return on equity of 20.04%. The business had revenue of $842.47 million for the quarter. analysts expect that Arcos Dorados Holding Inc will post 0.43 EPS for the current fiscal year.
About Arcos Dorados
Arcos Dorados Holdings Inc is a McDonald’s franchisee. The Company operates or franchises over 2,140 McDonald’s-branded restaurants. It divides its operations into four geographical divisions: Brazil; the Caribbean division, consisting of Aruba, Colombia, Curacao, French Guiana, Guadeloupe, Martinique, Puerto Rico, Trinidad and Tobago, the United States Virgin Islands of Saint Croix and Saint Thomas, and Venezuela; the North Latin America division (NOLAD), consisting of Costa Rica, Mexico and Panama, and the South Latin America division (SLAD), consisting of Argentina, Chile, Ecuador, Peru and Uruguay.
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