Bank of New York Mellon Corp Increases Holdings in Arko Corp. (NASDAQ:ARKO)

Bank of New York Mellon Corp raised its stake in Arko Corp. (NASDAQ:ARKO - Free Report) by 24.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 766,295 shares of the company's stock after purchasing an additional 148,269 shares during the period. Bank of New York Mellon Corp owned 0.66% of Arko worth $5,050,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Intech Investment Management LLC acquired a new stake in Arko in the 3rd quarter valued at $98,000. Quantbot Technologies LP acquired a new position in shares of Arko during the third quarter valued at about $72,000. PDT Partners LLC increased its position in shares of Arko by 8.7% during the third quarter. PDT Partners LLC now owns 75,685 shares of the company's stock worth $531,000 after acquiring an additional 6,031 shares in the last quarter. Readystate Asset Management LP raised its holdings in shares of Arko by 7.2% in the 3rd quarter. Readystate Asset Management LP now owns 220,972 shares of the company's stock worth $1,551,000 after acquiring an additional 14,845 shares during the last quarter. Finally, Jane Street Group LLC lifted 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 in the last quarter. Institutional investors and hedge funds own 78.29% of the company's stock.

Analysts Set New Price Targets

Separately, Stifel Nicolaus lowered Arko from a "buy" rating to a "hold" rating and decreased their price objective for the stock from $8.50 to $7.50 in a report on Thursday, February 27th.

Remove Ads

Arko Stock Up 1.5 %

Shares of ARKO stock traded up $0.06 on Friday, hitting $4.13. The stock had a trading volume of 543,885 shares, compared to its average volume of 436,668. The company has a debt-to-equity ratio of 3.86, a current ratio of 1.63 and a quick ratio of 1.13. The business has a 50 day moving average of $6.08 and a 200 day moving average of $6.53. Arko Corp. has a 12-month low of $3.76 and a 12-month high of $7.84. The stock has a market cap of $478.13 million, a price-to-earnings ratio of 25.81 and a beta of 0.61.

Arko Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, March 21st. Shareholders of record on Monday, March 10th will be given a dividend of $0.03 per share. The ex-dividend date of this dividend is Monday, March 10th. This represents a $0.12 annualized dividend and a dividend yield of 2.91%. Arko's dividend payout ratio 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.