JPMorgan Chase & Co. Increases Stock Position in Arko Corp. (NASDAQ:ARKO)

JPMorgan Chase & Co. increased its stake in shares of Arko Corp. (NASDAQ:ARKO - Free Report) by 598.7% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 239,683 shares of the company's stock after buying an additional 205,377 shares during the quarter. JPMorgan Chase & Co. owned about 0.21% of Arko worth $1,683,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Geode Capital Management LLC grew its stake in shares of Arko by 0.8% in the 3rd quarter. Geode Capital Management LLC now owns 1,801,212 shares of the company's stock valued at $12,647,000 after purchasing an additional 14,623 shares during the last quarter. Readystate Asset Management LP increased its stake in Arko by 7.2% in the 3rd quarter. Readystate Asset Management LP now owns 220,972 shares of the company's stock valued at $1,551,000 after buying an additional 14,845 shares during the period. Barclays PLC raised its position in 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 buying an additional 85,009 shares during the last quarter. Gabelli Funds LLC lifted its stake in shares of Arko by 12.8% in the 2nd quarter. Gabelli Funds LLC now owns 132,000 shares of the company's stock worth $828,000 after acquiring an additional 15,000 shares during the period. Finally, American Century Companies Inc. boosted its holdings in shares of Arko by 8.7% in the second quarter. American Century Companies Inc. now owns 116,692 shares of the company's stock valued at $732,000 after acquiring an additional 9,377 shares in the last quarter. Institutional investors and hedge funds own 78.29% of the company's stock.

Arko Stock Performance

Shares of Arko stock traded up $0.36 on Thursday, reaching $6.98. 727,716 shares of the stock were exchanged, compared to its average volume of 260,758. The company has a current ratio of 1.63, a quick ratio of 1.13 and a debt-to-equity ratio of 3.86. The firm has a market capitalization of $808.07 million, a PE ratio of 43.63 and a beta of 0.50. Arko Corp. has a 1-year low of $4.09 and a 1-year high of $8.39. The business has a fifty day moving average price of $6.78 and a two-hundred day moving average price of $6.61.

Arko (NASDAQ:ARKO - Get Free Report) last posted its quarterly earnings results on Thursday, November 7th. The company reported $0.07 EPS for the quarter, missing the consensus estimate of $0.16 by ($0.09). Arko had a net margin of 0.27% and a return on equity of 8.88%. The business had revenue of $2.28 billion during the quarter, compared to analyst estimates of $2.43 billion. During the same period in the prior year, the business earned $0.17 earnings per share. As a group, research analysts anticipate that Arko Corp. will post 0.2 earnings per share for the current fiscal year.

Arko Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 3rd. Shareholders of record on Tuesday, November 19th were given a dividend of $0.03 per share. The ex-dividend date of this dividend was Tuesday, November 19th. This represents a $0.12 annualized dividend and a yield of 1.72%. Arko's payout ratio is currently 75.00%.

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.