Meitav Investment House Ltd. Cuts Position in Arko Corp. (NASDAQ:ARKO)

Meitav Investment House Ltd. decreased its holdings in Arko Corp. (NASDAQ:ARKO) by 4.8% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 128,834 shares of the company’s stock after selling 6,548 shares during the quarter. Meitav Investment House Ltd. owned 0.11% of Arko worth $1,024,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. BlackRock Inc. boosted its holdings in Arko by 1.5% in the 1st quarter. BlackRock Inc. now owns 5,520,224 shares of the company’s stock worth $46,867,000 after buying an additional 79,140 shares during the last quarter. Vanguard Group Inc. lifted its position in shares of Arko by 3.9% in the third quarter. Vanguard Group Inc. now owns 4,143,955 shares of the company’s stock valued at $38,913,000 after acquiring an additional 155,194 shares in the last quarter. Invesco Ltd. boosted its stake in shares of Arko by 4.2% in the first quarter. Invesco Ltd. now owns 4,092,707 shares of the company’s stock worth $37,244,000 after acquiring an additional 163,675 shares during the last quarter. Geode Capital Management LLC increased its position in shares of Arko by 6.5% during the first quarter. Geode Capital Management LLC now owns 1,546,095 shares of the company’s stock worth $13,126,000 after purchasing an additional 94,534 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in Arko by 12.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,140,706 shares of the company’s stock valued at $9,069,000 after purchasing an additional 125,612 shares during the last quarter. Hedge funds and other institutional investors own 75.02% of the company’s stock.

Arko Stock Down 1.5 %

Shares of NASDAQ:ARKO opened at $7.20 on Friday. Arko Corp. has a 52-week low of $6.70 and a 52-week high of $9.54. The company has a quick ratio of 0.99, a current ratio of 1.49 and a debt-to-equity ratio of 3.63. The business has a fifty day moving average of $7.48 and a two-hundred day moving average of $7.71. The stock has a market cap of $841.03 million, a P/E ratio of 21.18 and a beta of 0.34.

Arko Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 1st. Investors of record on Friday, November 17th will be given a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a yield of 1.67%. The ex-dividend date of this dividend is Thursday, November 16th. Arko’s payout ratio is currently 35.29%.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. Wells Fargo & Company lowered their target price on shares of Arko from $8.00 to $7.75 and set an “equal weight” rating on the stock in a research note on Tuesday, November 7th. Odeon Capital Group began coverage on shares of Arko in a research report on Wednesday, August 9th. They set a “buy” rating and a $11.00 price target on the stock. Finally, BMO Capital Markets downgraded shares of Arko from an “outperform” rating to a “market perform” rating and cut their price objective for the company from $10.00 to $8.00 in a report on Tuesday.

About Arko

Arko Corp. operates convenience stores in the United States. It operates through Retail, Wholesale, Fleet Fueling, and GPM Petroleum 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.