Prudential Financial Inc. Takes $195,000 Position in Arko Corp. (NASDAQ:ARKO)

Prudential Financial Inc. purchased a new stake in shares of Arko Corp. (NASDAQ:ARKO) during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 29,569 shares of the company’s stock, valued at approximately $195,000.

Other institutional investors have also recently made changes to their positions in the company. Victory Capital Management Inc. purchased a new position in shares of Arko in the fourth quarter worth $66,000. KLP Kapitalforvaltning AS bought a new stake in Arko in the fourth quarter worth $66,000. Intech Investment Management LLC increased its holdings in shares of Arko by 114.7% in the 4th quarter. Intech Investment Management LLC now owns 30,073 shares of the company’s stock worth $198,000 after buying an additional 16,069 shares during the last quarter. Raymond James Financial Inc. bought a new stake in Arko during the fourth quarter worth approximately $368,000. Finally, XTX Topco Ltd bought a new position in shares of Arko during the 3rd quarter valued at approximately $439,000. Hedge funds and other institutional investors own 78.29% of the company’s stock.

Arko Trading Up 5.3 %

ARKO opened at $4.17 on Friday. The company has a quick ratio of 1.13, a current ratio of 1.63 and a debt-to-equity ratio of 3.86. The stock’s fifty day moving average is $5.07 and its two-hundred day moving average is $6.23. The company has a market capitalization of $482.77 million, a P/E ratio of 26.06 and a beta of 0.68. Arko Corp. has a 52 week low of $3.51 and a 52 week high of $7.84.

Arko Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 21st. Investors of record on Monday, March 10th were given a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a yield of 2.88%. The ex-dividend date of this dividend was Monday, March 10th. Arko’s payout ratio is currently 92.31%.

Analyst Ratings Changes

Separately, Stifel Nicolaus downgraded Arko from a “buy” rating to a “hold” rating and reduced their price target for the stock from $8.50 to $7.50 in a report on Thursday, February 27th.

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.