StockNews.com Lowers CrossAmerica Partners (NYSE:CAPL) to Hold

StockNews.com cut shares of CrossAmerica Partners (NYSE:CAPLGet Rating) from a buy rating to a hold rating in a report released on Friday morning.

CrossAmerica Partners Stock Performance

CrossAmerica Partners stock opened at $20.15 on Friday. The company has a debt-to-equity ratio of 17.10, a current ratio of 0.76 and a quick ratio of 0.44. CrossAmerica Partners has a 12 month low of $18.32 and a 12 month high of $23.29. The company has a market cap of $764.27 million, a price-to-earnings ratio of 13.34 and a beta of 1.72. The stock’s 50-day moving average is $19.52 and its 200-day moving average is $20.32.

CrossAmerica Partners Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, November 10th. Stockholders of record on Thursday, November 3rd were paid a $0.525 dividend. The ex-dividend date of this dividend was Wednesday, November 2nd. This represents a $2.10 dividend on an annualized basis and a dividend yield of 10.42%. CrossAmerica Partners’s dividend payout ratio (DPR) is currently 139.07%.

Insider Activity

In related news, Director Joseph V. Jr. Topper bought 7,037 shares of the stock in a transaction dated Friday, November 4th. The stock was acquired at an average price of $18.46 per share, for a total transaction of $129,903.02. Following the completion of the purchase, the director now owns 192,451 shares in the company, valued at $3,552,645.46. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other CrossAmerica Partners news, Director Joseph V. Jr. Topper acquired 7,037 shares of the stock in a transaction on Friday, November 4th. The stock was purchased at an average price of $18.46 per share, for a total transaction of $129,903.02. Following the purchase, the director now directly owns 192,451 shares in the company, valued at $3,552,645.46. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Joseph V. Jr. Topper acquired 2,627 shares of the stock in a transaction on Thursday, September 29th. The shares were acquired at an average price of $18.48 per share, with a total value of $48,546.96. Following the purchase, the director now owns 183,454 shares in the company, valued at $3,390,229.92. The disclosure for this purchase can be found here. Over the last quarter, insiders purchased 18,603 shares of company stock worth $343,375. 52.00% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On CrossAmerica Partners

A number of hedge funds have recently bought and sold shares of the business. American Financial Group Inc. grew its stake in CrossAmerica Partners by 4.5% during the 2nd quarter. American Financial Group Inc. now owns 11,500 shares of the oil and gas company’s stock valued at $233,000 after purchasing an additional 500 shares in the last quarter. Quadrant Private Wealth Management LLC grew its position in shares of CrossAmerica Partners by 0.4% in the 1st quarter. Quadrant Private Wealth Management LLC now owns 153,532 shares of the oil and gas company’s stock worth $3,349,000 after acquiring an additional 659 shares in the last quarter. Philadelphia Trust Co. grew its position in shares of CrossAmerica Partners by 10.0% in the 1st quarter. Philadelphia Trust Co. now owns 11,000 shares of the oil and gas company’s stock worth $240,000 after acquiring an additional 1,000 shares in the last quarter. Vident Investment Advisory LLC grew its position in shares of CrossAmerica Partners by 7.6% in the 1st quarter. Vident Investment Advisory LLC now owns 15,611 shares of the oil and gas company’s stock worth $340,000 after acquiring an additional 1,098 shares in the last quarter. Finally, Raymond James Financial Services Advisors Inc. grew its position in shares of CrossAmerica Partners by 0.7% in the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 173,710 shares of the oil and gas company’s stock worth $3,247,000 after acquiring an additional 1,173 shares in the last quarter. Institutional investors and hedge funds own 23.49% of the company’s stock.

About CrossAmerica Partners

(Get Rating)

CrossAmerica Partners LP engages in the wholesale distribution of motor fuels, operation of convenience stores, and ownership and leasing of real estate used in the retail distribution of motor fuels in the United States. It operates in two segments, Wholesale and Retail. The Wholesale segment engages in the wholesale distribution of motor fuels to lessee dealers, independent dealers, commission agents, and company operated retail sites.

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