JPMorgan Chase & Co. Grows Holdings in Arko Corp. (NASDAQ:ARKO)

JPMorgan Chase & Co. lifted its stake in Arko Corp. (NASDAQ:ARKO - Free Report) by 166.6% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 639,070 shares of the company's stock after purchasing an additional 399,387 shares during the quarter. JPMorgan Chase & Co. owned 0.55% of Arko worth $4,211,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also made changes to their positions in the company. KLP Kapitalforvaltning AS acquired a new position in Arko during the fourth quarter valued at approximately $66,000. Victory Capital Management Inc. acquired a new position in Arko during the fourth quarter valued at approximately $66,000. Prudential Financial Inc. acquired a new position in Arko during the fourth quarter valued at approximately $195,000. Intech Investment Management LLC grew its holdings in Arko by 114.7% during the fourth quarter. Intech Investment Management LLC now owns 30,073 shares of the company's stock valued at $198,000 after purchasing an additional 16,069 shares during the last quarter. Finally, Raymond James Financial Inc. acquired a new position in Arko during the fourth quarter valued at approximately $368,000. 78.29% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Separately, Stifel Nicolaus downgraded shares of 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 note on Thursday, February 27th.

Arko Price Performance

NASDAQ:ARKO traded down $0.01 on Thursday, reaching $4.22. The stock had a trading volume of 65,451 shares, compared to its average volume of 469,365. 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 $487.97 million, a P/E ratio of 26.34 and a beta of 0.68. The company has a quick ratio of 1.13, a current ratio of 1.63 and a debt-to-equity ratio of 3.86. The stock has a fifty day moving average price of $4.60 and a 200-day moving average price of $6.08.

Arko Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, March 21st. Shareholders of record on Monday, March 10th were paid a $0.03 dividend. This represents a $0.12 annualized dividend and a yield of 2.85%. The ex-dividend date of this dividend was Monday, March 10th. Arko's dividend payout ratio (DPR) is presently 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.