Causeway Capital Management LLC Makes New Investment in Arcos Dorados Holdings Inc. (NYSE:ARCO)

Causeway Capital Management LLC purchased a new position in shares of Arcos Dorados Holdings Inc. (NYSE:ARCO) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 34,300 shares of the restaurant operator’s stock, valued at approximately $250,000.

A number of other hedge funds have also recently made changes to their positions in the business. Spire Wealth Management raised its position in 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 during the period. R Squared Ltd purchased a new position in shares of Arcos Dorados in the fourth quarter worth about $54,000. Bank of New York Mellon Corp lifted its stake in shares of Arcos Dorados by 17.5% in the 4th quarter. Bank of New York Mellon Corp now owns 12,272 shares of the restaurant operator’s stock valued at $89,000 after acquiring an additional 1,830 shares during the last quarter. Sanctuary Advisors LLC purchased a new stake in Arcos Dorados during the 4th quarter valued at about $90,000. Finally, Virtu Financial LLC bought a new position in Arcos Dorados during the 4th quarter worth approximately $90,000. 55.91% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Separately, StockNews.com cut shares of Arcos Dorados from a “buy” rating to a “hold” rating in a report on Wednesday, March 26th.

Arcos Dorados Stock Up 2.3 %

NYSE ARCO opened at $7.22 on Monday. The business’s 50-day moving average is $7.95 and its 200 day moving average is $8.15. The stock has a market capitalization of $1.52 billion, a PE ratio of 10.31 and a beta of 0.69. 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 1 year low of $6.66 and a 1 year high of $11.49.

Arcos Dorados (NYSE:ARCO) last announced its earnings results on Wednesday, March 12th. The restaurant operator reported $0.28 EPS for the quarter, beating 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 company had revenue of $1.14 billion during the quarter, compared to the consensus estimate of $1.15 billion. Sell-side analysts forecast that Arcos Dorados Holdings Inc. will post 0.63 earnings per share for the current year.

Arcos Dorados Dividend Announcement

The business also recently disclosed 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 is Monday, December 22nd. This represents a $0.24 annualized dividend and a yield of 3.32%. Arcos Dorados’s dividend payout ratio (DPR) is presently 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.