Allspring Global Investments Holdings LLC Buys 95,895 Shares of Arko Corp. (NASDAQ:ARKO)

Allspring Global Investments Holdings LLC boosted its stake in Arko Corp. (NASDAQ:ARKOGet Rating) by 129.1% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 170,160 shares of the company’s stock after acquiring an additional 95,895 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Arko were worth $1,597,000 as of its most recent filing with the SEC.

Other hedge funds have also added to or reduced their stakes in the company. CDAM UK Ltd raised its position in shares of Arko by 1.1% in the second quarter. CDAM UK Ltd now owns 5,897,071 shares of the company’s stock valued at $48,120,000 after purchasing an additional 63,800 shares during the period. Invesco Ltd. raised its position in shares of Arko by 4.2% in the first quarter. Invesco Ltd. now owns 4,092,707 shares of the company’s stock valued at $37,244,000 after purchasing an additional 163,675 shares during the period. Dimensional Fund Advisors LP raised its position in shares of Arko by 28.0% in the first quarter. Dimensional Fund Advisors LP now owns 749,684 shares of the company’s stock valued at $6,822,000 after purchasing an additional 163,790 shares during the period. Charles Schwab Investment Management Inc. raised its position in shares of Arko by 2.2% in the first quarter. Charles Schwab Investment Management Inc. now owns 604,276 shares of the company’s stock valued at $5,499,000 after purchasing an additional 12,791 shares during the period. Finally, CM Management LLC raised its position in shares of Arko by 2.3% in the second quarter. CM Management LLC now owns 225,000 shares of the company’s stock valued at $1,836,000 after purchasing an additional 5,000 shares during the period. Institutional investors own 52.25% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, BMO Capital Markets lowered their price target on shares of Arko from $12.00 to $10.00 and set an “outperform” rating on the stock in a research report on Monday, January 9th.

Arko Stock Down 0.2 %

Shares of NASDAQ:ARKO opened at $8.29 on Friday. The firm has a fifty day moving average price of $8.83 and a two-hundred day moving average price of $9.28. The company has a market cap of $995.42 million, a price-to-earnings ratio of 16.58 and a beta of 0.28. The company has a debt-to-equity ratio of 3.52, a current ratio of 1.72 and a quick ratio of 1.20. Arko Corp. has a one year low of $7.45 and a one year high of $10.81.

Arko (NASDAQ:ARKOGet Rating) last posted its quarterly earnings data on Monday, November 7th. The company reported $0.17 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.26 by ($0.09). Arko had a net margin of 0.80% and a return on equity of 28.41%. The business had revenue of $2.45 billion for the quarter, compared to the consensus estimate of $2.42 billion. Analysts anticipate that Arko Corp. will post 0.5 EPS for the current fiscal year.

Arko Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 6th. Investors of record on Tuesday, November 22nd were given a $0.03 dividend. This represents a $0.12 annualized dividend and a dividend yield of 1.45%. This is a boost from Arko’s previous quarterly dividend of $0.02. The ex-dividend date of this dividend was Monday, November 21st. Arko’s dividend payout ratio is 24.00%.

Arko Company Profile

(Get Rating)

Arko Corp. operates convenience stores in the United States. It operates through three segments: Retail, Wholesale, and GPM Petroleum. The Retail segment engages in the sale of fuel and merchandise to retail consumers. The Wholesale segment supplies fuel to third-party dealers and consignment agents.

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Institutional Ownership by Quarter for Arko (NASDAQ:ARKO)

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