Russell Investments Group Ltd. Has $9.40 Million Holdings in Arcos Dorados Holdings Inc. (ARCO)
Russell Investments Group Ltd. raised its position in Arcos Dorados Holdings Inc. (NYSE:ARCO) by 51.6% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 935,184 shares of the restaurant operator’s stock after buying an additional 318,409 shares during the period. Russell Investments Group Ltd. owned approximately 0.44% of Arcos Dorados worth $9,397,000 at the end of the most recent quarter.
A number of other large investors have also recently bought and sold shares of the business. Stratos Wealth Partners LTD. bought a new position in shares of Arcos Dorados during the third quarter worth about $110,000. Bank of New York Mellon Corp raised its stake in Arcos Dorados by 135.5% during the third quarter. Bank of New York Mellon Corp now owns 59,595 shares of the restaurant operator’s stock worth $599,000 after acquiring an additional 34,286 shares during the period. Sei Investments Co. raised its stake in Arcos Dorados by 26.1% during the third quarter. Sei Investments Co. now owns 61,410 shares of the restaurant operator’s stock worth $617,000 after acquiring an additional 12,710 shares during the period. Westpac Banking Corp raised its stake in Arcos Dorados by 89.6% during the third quarter. Westpac Banking Corp now owns 120,591 shares of the restaurant operator’s stock worth $1,212,000 after acquiring an additional 57,000 shares during the period. Finally, River & Mercantile Asset Management LLP acquired a new stake in Arcos Dorados during the third quarter worth about $4,314,000. 36.67% of the stock is owned by institutional investors.
Several research firms recently weighed in on ARCO. BidaskClub upgraded shares of Arcos Dorados from a “buy” rating to a “strong-buy” rating in a research note on Thursday, September 14th. Zacks Investment Research upgraded shares of Arcos Dorados from a “hold” rating to a “buy” rating and set a $12.00 price objective on the stock in a research note on Friday, November 10th. HSBC started coverage on shares of Arcos Dorados in a research note on Wednesday, November 15th. They set a “buy” rating and a $12.00 price objective on the stock. Citigroup upgraded shares of Arcos Dorados from a “neutral” rating to a “buy” rating and raised their price target for the company from $10.10 to $10.60 in a research note on Monday, August 28th. Finally, TheStreet upgraded shares of Arcos Dorados from a “c+” rating to a “b” rating in a research note on Tuesday, November 21st. One analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $11.15.
Shares of Arcos Dorados Holdings Inc. (ARCO) opened at $9.55 on Wednesday. Arcos Dorados Holdings Inc. has a 12 month low of $5.25 and a 12 month high of $10.80. The company has a market cap of $2,026.29, a P/E ratio of 25.26, a price-to-earnings-growth ratio of 1.88 and a beta of 2.05. The company has a quick ratio of 0.89, a current ratio of 0.99 and a debt-to-equity ratio of 1.45.
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Arcos Dorados Profile
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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