Bank of America Corp DE Purchases 23,165 Shares of Arko Corp. (NASDAQ:ARKO)

Bank of America Corp DE increased its position in Arko Corp. (NASDAQ:ARKO) by 22.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 124,771 shares of the company’s stock after purchasing an additional 23,165 shares during the period. Bank of America Corp DE owned 0.11% of Arko worth $822,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Cannell Capital LLC lifted its holdings in shares of Arko by 55.8% during the fourth quarter. Cannell Capital LLC now owns 2,710,772 shares of the company’s stock valued at $17,864,000 after purchasing an additional 971,158 shares during the last quarter. Dimensional Fund Advisors LP increased its position in Arko by 12.3% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,851,140 shares of the company’s stock valued at $12,200,000 after buying an additional 202,576 shares in the last quarter. CM Management LLC raised its stake in Arko by 2.9% during the fourth quarter. CM Management LLC now owns 1,050,000 shares of the company’s stock valued at $6,920,000 after buying an additional 30,000 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in Arko by 24.0% in the fourth quarter. Bank of New York Mellon Corp now owns 766,295 shares of the company’s stock worth $5,050,000 after acquiring an additional 148,269 shares in the last quarter. Finally, Northern Trust Corp boosted its holdings in Arko by 9.0% in the fourth quarter. Northern Trust Corp now owns 709,445 shares of the company’s stock worth $4,675,000 after acquiring an additional 58,453 shares in the last quarter. Institutional investors own 78.29% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on ARKO shares. Raymond James reduced their price target on Arko from $11.00 to $10.00 and set a “strong-buy” rating for the company in a report on Friday, May 9th. Wall Street Zen raised shares of Arko from a “sell” rating to a “hold” rating in a report on Saturday. BMO Capital Markets upped their target price on shares of Arko from $4.50 to $5.00 and gave the stock a “market perform” rating in a research note on Monday, May 12th. Capital One Financial initiated coverage on shares of Arko in a report on Thursday, May 8th. They set an “overweight” rating and a $8.00 price target on the stock. Finally, Stifel Nicolaus lowered shares of 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. Four investment analysts have rated the stock with a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Arko currently has a consensus rating of “Moderate Buy” and an average price target of $7.35.

Arko Stock Performance

Arko stock opened at $4.36 on Monday. The company’s 50-day moving average price is $4.33 and its 200-day moving average price is $5.55. 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 company has a market cap of $500.00 million, a PE ratio of 27.25 and a beta of 0.74. Arko Corp. has a twelve month low of $3.51 and a twelve month high of $7.84.

Arko (NASDAQ:ARKO) last announced its earnings results on Thursday, May 8th. The company reported ($0.12) EPS for the quarter, topping analysts’ consensus estimates of ($0.17) by $0.05. Arko had a return on equity of 8.88% and a net margin of 0.27%. The firm had revenue of $1.83 billion during the quarter, compared to analysts’ expectations of $1.85 billion. On average, equities research analysts forecast that Arko Corp. will post 0.2 EPS for the current fiscal year.

Arko Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 30th. Investors of record on Monday, May 19th were issued a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a yield of 2.75%. The ex-dividend date of this dividend was Monday, May 19th. Arko’s payout ratio is 400.00%.

Arko Company 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.