Charles Schwab Investment Management Inc. Sells 127,104 Shares of Arko Corp. (NASDAQ:ARKO)

Charles Schwab Investment Management Inc. cut its holdings in shares of Arko Corp. (NASDAQ:ARKO - Free Report) by 14.6% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 744,137 shares of the company's stock after selling 127,104 shares during the period. Charles Schwab Investment Management Inc. owned about 0.64% of Arko worth $4,904,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of ARKO. Bank of New York Mellon Corp boosted its stake in shares of Arko by 24.0% in the 4th quarter. Bank of New York Mellon Corp now owns 766,295 shares of the company's stock valued at $5,050,000 after purchasing an additional 148,269 shares in the last quarter. CWA Asset Management Group LLC bought a new position in Arko in the 4th quarter valued at approximately $814,000. JPMorgan Chase & Co. boosted its position in Arko by 598.7% in the third quarter. JPMorgan Chase & Co. now owns 239,683 shares of the company's stock valued at $1,683,000 after buying an additional 205,377 shares in the last quarter. Barclays PLC boosted its position in Arko by 98.2% in the third quarter. Barclays PLC now owns 171,600 shares of the company's stock valued at $1,203,000 after buying an additional 85,009 shares in the last quarter. Finally, Geode Capital Management LLC grew its stake in shares of Arko by 0.8% during the third quarter. Geode Capital Management LLC now owns 1,801,212 shares of the company's stock worth $12,647,000 after buying an additional 14,623 shares during the last quarter. Institutional investors and hedge funds own 78.29% of the company's stock.

Wall Street Analyst Weigh In

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

Remove Ads

Arko Trading Down 0.5 %

NASDAQ ARKO traded down $0.02 during trading hours on Friday, reaching $4.06. The company's stock had a trading volume of 635,806 shares, compared to its average volume of 455,329. Arko Corp. has a 52 week low of $3.76 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. The stock has a market cap of $470.03 million, a P/E ratio of 25.38 and a beta of 0.61. The firm has a fifty day simple moving average of $5.80 and a 200-day simple moving average of $6.45.

Arko Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 21st. Investors of record on Monday, March 10th were paid a $0.03 dividend. The ex-dividend date of this dividend was Monday, March 10th. This represents a $0.12 annualized dividend and a dividend yield of 2.96%. Arko's dividend payout ratio is 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.