KLP Kapitalforvaltning AS Invests $66,000 in Arko Corp. (NASDAQ:ARKO)

KLP Kapitalforvaltning AS acquired a new stake in shares of Arko Corp. (NASDAQ:ARKO) during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm acquired 10,004 shares of the company’s stock, valued at approximately $66,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Victory Capital Management Inc. acquired a new stake in shares of Arko during the fourth quarter valued at about $66,000. Intech Investment Management LLC raised its holdings in Arko by 114.7% in the 4th quarter. Intech Investment Management LLC now owns 30,073 shares of the company’s stock valued at $198,000 after buying an additional 16,069 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in Arko during the 4th quarter worth approximately $368,000. XTX Topco Ltd bought a new stake in Arko during the 3rd quarter worth approximately $439,000. Finally, Jane Street Group LLC increased its position in Arko by 12.2% in the 3rd quarter. Jane Street Group LLC now owns 109,881 shares of the company’s stock valued at $771,000 after acquiring an additional 11,975 shares during the period. Institutional investors own 78.29% of the company’s stock.

Analyst Ratings Changes

Separately, Stifel Nicolaus lowered shares of Arko from a “buy” rating to a “hold” rating and cut their price target for the stock from $8.50 to $7.50 in a report on Thursday, February 27th.

Arko Price Performance

Shares of ARKO opened at $4.17 on Friday. The business has a 50-day moving average of $5.07 and a 200-day moving average of $6.23. Arko Corp. has a 1 year low of $3.51 and a 1 year high of $7.84. The company has a market capitalization of $482.77 million, a price-to-earnings ratio of 26.06 and a beta of 0.68. The company has a debt-to-equity ratio of 3.86, a current ratio of 1.63 and a quick ratio of 1.13.

Arko Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, March 21st. Stockholders of record on Monday, March 10th were given a $0.03 dividend. The ex-dividend date of this dividend was Monday, March 10th. This represents a $0.12 dividend on an annualized basis and a dividend yield of 2.88%. Arko’s dividend payout ratio (DPR) is currently 92.31%.

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.