Arcos Dorados (NYSE:ARCO) Sees Strong Trading Volume Following Dividend Announcement

Shares of Arcos Dorados Holdings Inc. (NYSE:ARCO) saw unusually-strong trading volume on Friday following a dividend announcement from the company. Approximately 1,985,391 shares traded hands during trading, an increase of 54% from the previous session’s volume of 1,285,258 shares.The stock last traded at $8.27 and had previously closed at $7.92.

The newly announced dividend which will be paid on Friday, December 26th. Shareholders of record on Monday, December 22nd will be paid 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 2.86%. Arcos Dorados’s payout ratio is 34.29%.

Arcos Dorados Stock Up 6.1 %

The business’s fifty day moving average is $7.80 and its two-hundred day moving average is $8.28. The company has a debt-to-equity ratio of 1.40, a quick ratio of 0.57 and a current ratio of 0.63. The company has a market cap of $1.77 billion, a P/E ratio of 11.94 and a beta of 1.09.

Arcos Dorados (NYSE:ARCO) last released its quarterly earnings data on Wednesday, March 12th. The restaurant operator reported $0.28 earnings per share 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 firm had revenue of $1.14 billion during the quarter, compared to the consensus estimate of $1.15 billion. Equities analysts predict that Arcos Dorados Holdings Inc. will post 0.63 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Spire Wealth Management boosted its holdings 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 valued at $52,000 after buying an additional 1,540 shares in the last quarter. Navellier & Associates Inc. increased its position in shares of Arcos Dorados by 8.3% in the 4th quarter. Navellier & Associates Inc. now owns 22,258 shares of the restaurant operator’s stock valued at $162,000 after acquiring an additional 1,700 shares during the period. Bank of New York Mellon Corp grew its stake in Arcos Dorados by 17.5% during 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 purchasing an additional 1,830 shares during the last quarter. Diligent Investors LLC increased its holdings in shares of Arcos Dorados by 3.3% in the fourth quarter. Diligent Investors LLC now owns 72,478 shares of the restaurant operator’s stock valued at $528,000 after purchasing an additional 2,317 shares during the period. Finally, Freedom Investment Management Inc. increased its holdings in shares of Arcos Dorados by 10.6% in the fourth quarter. Freedom Investment Management Inc. now owns 35,689 shares of the restaurant operator’s stock valued at $260,000 after purchasing an additional 3,427 shares during the period. 55.91% of the stock is currently owned by hedge funds and other institutional investors.

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.