Bank of America Corp DE Increases Position in Arko Corp. (NASDAQ:ARKO)

Bank of America Corp DE increased its position in Arko Corp. (NASDAQ:ARKO) by 22.8% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 124,771 shares of the company’s stock after acquiring an additional 23,165 shares during the period. Bank of America Corp DE’s holdings in Arko were worth $822,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in ARKO. Cannell Capital LLC increased its holdings in shares of Arko by 55.8% in the fourth quarter. Cannell Capital LLC now owns 2,710,772 shares of the company’s stock valued at $17,864,000 after purchasing an additional 971,158 shares during the period. JPMorgan Chase & Co. boosted its position in Arko by 166.6% in the fourth quarter. JPMorgan Chase & Co. now owns 639,070 shares of the company’s stock valued at $4,211,000 after buying an additional 399,387 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in Arko by 12.3% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,851,140 shares of the company’s stock worth $12,200,000 after buying an additional 202,576 shares during the period. BNP Paribas Financial Markets purchased a new stake in shares of Arko in the 4th quarter valued at $1,248,000. Finally, Bank of New York Mellon Corp boosted its holdings in shares of Arko by 24.0% in the 4th quarter. Bank of New York Mellon Corp now owns 766,295 shares of the company’s stock valued at $5,050,000 after acquiring an additional 148,269 shares during the last quarter. Institutional investors and hedge funds own 78.29% of the company’s stock.

Analyst Ratings Changes

ARKO has been the subject of several recent research reports. Wall Street Zen raised shares of Arko from a “sell” rating to a “hold” rating in a report on Saturday. BMO Capital Markets lifted their price objective on Arko from $4.50 to $5.00 and gave the company a “market perform” rating in a research note on Monday, May 12th. Capital One Financial started coverage on Arko in a research note on Thursday, May 8th. They issued an “overweight” rating and a $8.00 target price on the stock. Raymond James decreased their price target on Arko from $11.00 to $10.00 and set a “strong-buy” rating for the company in a report on Friday, May 9th. Finally, Stifel Nicolaus lowered Arko from a “buy” rating to a “hold” rating and lowered their price objective for the stock from $8.50 to $7.50 in a research report on Thursday, February 27th. Four equities research analysts have rated the stock with a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Arko has an average rating of “Moderate Buy” and an average price target of $7.35.

Arko Trading Down 0.7%

Shares of Arko stock opened at $4.36 on Monday. The firm has a 50-day simple moving average of $4.33 and a two-hundred day simple moving average of $5.55. The company has a debt-to-equity ratio of 3.86, a quick ratio of 1.13 and a current ratio of 1.63. Arko Corp. has a fifty-two week low of $3.51 and a fifty-two week high of $7.84. The company has a market cap of $500.00 million, a P/E ratio of 27.25 and a beta of 0.74.

Arko (NASDAQ:ARKO) last released its quarterly earnings results on Thursday, May 8th. The company reported ($0.12) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.17) by $0.05. The company had revenue of $1.83 billion during the quarter, compared to analysts’ expectations of $1.85 billion. Arko had a return on equity of 8.88% and a net margin of 0.27%. As a group, equities analysts predict that Arko Corp. will post 0.2 earnings per share for the current fiscal year.

Arko Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 30th. Stockholders of record on Monday, May 19th were given a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a dividend yield of 2.75%. The ex-dividend date of this dividend was Monday, May 19th. Arko’s dividend payout ratio (DPR) is presently 400.00%.

Arko Profile

Arko Corp. operates convenience stores in the United States. It operates through Retail, Wholesale, Fleet Fueling, and GPMP segments. The Retail segment engages in the sale of fuel and merchandise to retail consumers. Its Wholesale segment supplies fuel to third-party dealers and consignment agents. The Fleet Fueling segment supplies fuel to proprietary and third-party cardlock, and issuance of proprietary fuel cards.