Arko (NASDAQ:ARKO) Price Target Lowered to $5.00 at Wells Fargo & Company

Arko (NASDAQ:ARKO) had its price objective reduced by Wells Fargo & Company from $7.00 to $5.00 in a research report sent to investors on Friday, Benzinga reports. They currently have an equal weight rating on the stock.

Separately, BMO Capital Markets reduced their price target on Arko from $8.00 to $7.00 and set a market perform rating for the company in a research report on Thursday, February 29th.

Arko Trading Up 0.7 %

ARKO opened at $4.58 on Friday. The firm has a market cap of $532.10 million, a price-to-earnings ratio of 18.32 and a beta of 0.28. The company has a current ratio of 1.54, a quick ratio of 1.03 and a debt-to-equity ratio of 3.77. Arko has a 12 month low of $4.36 and a 12 month high of $8.58. The stock has a fifty day moving average price of $6.11 and a 200-day moving average price of $7.20.

Arko (NASDAQ:ARKO) last released its quarterly earnings results on Wednesday, February 28th. The company reported $0.06 EPS for the quarter, topping the consensus estimate of $0.04 by $0.02. The firm had revenue of $2.23 billion during the quarter, compared to analyst estimates of $2.40 billion. Arko had a return on equity of 12.32% and a net margin of 0.37%. During the same period in the previous year, the company posted $0.09 EPS. As a group, equities research analysts anticipate that Arko will post 0.09 earnings per share for the current fiscal year.

Arko Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 21st. Investors of record on Monday, March 11th were given a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a yield of 2.62%. The ex-dividend date of this dividend was Friday, March 8th. Arko’s dividend payout ratio is currently 48.00%.

Insider Activity at Arko

In related news, major shareholder Morris Willner sold 2,792,631 shares of the company’s stock in a transaction dated Wednesday, February 28th. The stock was sold at an average price of $6.76, for a total transaction of $18,878,185.56. Following the transaction, the insider now directly owns 11,683,980 shares of the company’s stock, valued at approximately $78,983,704.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 32.16% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. MQS Management LLC purchased a new stake in Arko during the 3rd quarter valued at about $95,000. Dark Forest Capital Management LP purchased a new stake in shares of Arko in the third quarter worth about $101,000. Counterpoint Mutual Funds LLC purchased a new stake in shares of Arko in the fourth quarter worth about $104,000. Aigen Investment Management LP purchased a new stake in shares of Arko in the third quarter worth about $123,000. Finally, Arizona State Retirement System boosted its stake in shares of Arko by 24.0% in the third quarter. Arizona State Retirement System now owns 18,840 shares of the company’s stock worth $135,000 after buying an additional 3,651 shares during the last quarter. 78.29% of the stock is owned by institutional investors and hedge funds.

About Arko

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.