Arko (NASDAQ:ARKO) Given New $5.00 Price Target at Wells Fargo & Company

Arko (NASDAQ:ARKO) had its price target decreased by Wells Fargo & Company from $7.00 to $5.00 in a report published on Friday morning, Benzinga reports. Wells Fargo & Company currently has an equal weight rating on the stock.

Separately, BMO Capital Markets cut their price objective on Arko from $8.00 to $7.00 and set a market perform rating for the company in a report on Thursday, February 29th.

Arko Price Performance

Shares of ARKO opened at $4.55 on Friday. The stock has a market capitalization of $528.62 million, a P/E ratio of 18.20 and a beta of 0.28. Arko has a twelve month low of $4.45 and a twelve month high of $8.74. The company has a 50 day moving average of $6.18 and a 200-day moving average of $7.22. The company has a quick ratio of 1.03, a current ratio of 1.54 and a debt-to-equity ratio of 3.77.

Arko (NASDAQ:ARKO) last issued its quarterly earnings results on Wednesday, February 28th. The company reported $0.06 earnings per share for the quarter, topping the consensus estimate of $0.04 by $0.02. The company had revenue of $2.23 billion during the quarter, compared to analysts’ expectations of $2.40 billion. Arko had a net margin of 0.37% and a return on equity of 12.32%. During the same period last year, the business earned $0.09 EPS. As a group, equities research analysts forecast that Arko will post 0.09 EPS for the current fiscal year.

Arko Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 21st. Stockholders of record on Monday, March 11th were issued a $0.03 dividend. This represents a $0.12 annualized dividend and a dividend yield of 2.64%. The ex-dividend date of this dividend was Friday, March 8th. Arko’s payout ratio is presently 48.00%.

Insider Buying and Selling at Arko

In other Arko news, major shareholder Morris Willner sold 2,792,631 shares of the firm’s stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $6.76, for a total transaction of $18,878,185.56. Following the completion of the sale, the insider now owns 11,683,980 shares of the company’s stock, valued at approximately $78,983,704.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 32.16% of the company’s stock.

Institutional Investors Weigh In On Arko

Several hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its holdings in Arko by 3.3% during the 4th quarter. Vanguard Group Inc. now owns 3,745,189 shares of the company’s stock valued at $30,898,000 after purchasing an additional 119,075 shares during the last quarter. Goldman Sachs Group Inc. lifted its holdings in Arko by 0.6% during the 4th quarter. Goldman Sachs Group Inc. now owns 806,157 shares of the company’s stock valued at $6,651,000 after purchasing an additional 4,591 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in Arko by 9.7% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 20,124 shares of the company’s stock valued at $167,000 after purchasing an additional 1,783 shares during the last quarter. Legal & General Group Plc lifted its holdings in Arko by 4.0% during the 4th quarter. Legal & General Group Plc now owns 60,032 shares of the company’s stock valued at $495,000 after purchasing an additional 2,322 shares during the last quarter. Finally, Barclays PLC lifted its holdings in Arko by 125.0% during the 4th quarter. Barclays PLC now owns 172,751 shares of the company’s stock valued at $1,424,000 after purchasing an additional 95,970 shares during the last quarter. Institutional investors and hedge funds own 78.29% of the company’s stock.

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.