Stifel Nicolaus downgraded shares of Arko (NASDAQ:ARKO - Free Report) from a buy rating to a hold rating in a research note published on Thursday morning, Marketbeat Ratings reports. Stifel Nicolaus currently has $7.50 price objective on the stock, down from their prior price objective of $8.50.
Arko Price Performance
Shares of ARKO stock traded down $0.35 during mid-day trading on Thursday, hitting $4.16. The company had a trading volume of 1,660,887 shares, compared to its average volume of 635,569. The company has a market capitalization of $481.61 million, a P/E ratio of 26.00 and a beta of 0.50. The stock's 50 day moving average price is $6.78 and its 200-day moving average price is $6.76. Arko has a 52-week low of $4.09 and a 52-week high of $7.84. 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 Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Friday, March 21st. Stockholders of record on Monday, March 10th will be issued a $0.03 dividend. The ex-dividend date is Monday, March 10th. This represents a $0.12 annualized dividend and a dividend yield of 2.88%. Arko's dividend payout ratio (DPR) is 92.31%.
Hedge Funds Weigh In On Arko
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Barclays PLC raised its holdings in shares of Arko by 98.2% during the 3rd quarter. Barclays PLC now owns 171,600 shares of the company's stock worth $1,203,000 after acquiring an additional 85,009 shares in the last quarter. JPMorgan Chase & Co. increased its position in Arko by 598.7% in the third quarter. JPMorgan Chase & Co. now owns 239,683 shares of the company's stock worth $1,683,000 after purchasing an additional 205,377 shares during the last quarter. CWA Asset Management Group LLC bought a new position in Arko during the fourth quarter valued at $814,000. Jane Street Group LLC lifted its position in Arko by 12.2% during the third quarter. Jane Street Group LLC now owns 109,881 shares of the company's stock valued at $771,000 after purchasing an additional 11,975 shares during the last quarter. Finally, PDT Partners LLC grew its stake in shares of Arko by 8.7% in the 3rd quarter. PDT Partners LLC now owns 75,685 shares of the company's stock worth $531,000 after buying an additional 6,031 shares in the last quarter. 78.29% of the stock is owned by institutional investors.
Arko Company Profile
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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.
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