Wells Fargo & Company Lowers Arko (NASDAQ:ARKO) Price Target to $5.00

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

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

Arko Trading Up 1.3 %

Shares of Arko stock opened at $4.55 on Friday. The stock has a fifty day simple moving average of $6.18 and a 200 day simple moving average of $7.22. Arko has a 12-month low of $4.45 and a 12-month high of $8.74. The company has a market capitalization of $528.62 million, a P/E ratio of 18.20 and a beta of 0.28. The company has a current ratio of 1.54, a quick ratio of 1.03 and a debt-to-equity ratio of 3.77.

Arko (NASDAQ:ARKO) last announced its quarterly earnings results on Wednesday, February 28th. The company reported $0.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.04 by $0.02. Arko had a return on equity of 12.32% and a net margin of 0.37%. The business had revenue of $2.23 billion during the quarter, compared to the consensus estimate of $2.40 billion. During the same quarter in the prior year, the company posted $0.09 earnings per share. On average, sell-side analysts anticipate that Arko will post 0.09 earnings per share for the current fiscal year.

Arko Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 21st. Shareholders of record on Monday, March 11th were paid a $0.03 dividend. The ex-dividend date was Friday, March 8th. This represents a $0.12 dividend on an annualized basis and a yield of 2.64%. Arko’s dividend payout ratio (DPR) 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 company’s stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $6.76, for a total value of $18,878,185.56. Following the completion of the transaction, the insider now owns 11,683,980 shares in the company, valued at approximately $78,983,704.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 32.16% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Tower Research Capital LLC TRC lifted its position in shares of Arko by 149.7% during the 1st quarter. Tower Research Capital LLC TRC now owns 3,004 shares of the company’s stock valued at $26,000 after buying an additional 1,801 shares during the last quarter. Public Employees Retirement System of Ohio lifted its position in shares of Arko by 40.5% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 4,172 shares of the company’s stock valued at $39,000 after buying an additional 1,203 shares during the last quarter. Ensign Peak Advisors Inc purchased a new position in shares of Arko during the 3rd quarter valued at $72,000. ProShare Advisors LLC purchased a new position in shares of Arko during the 2nd quarter valued at $85,000. Finally, LPL Financial LLC purchased a new position in shares of Arko during the 2nd quarter valued at $90,000. Hedge funds and other institutional investors own 78.29% of the company’s stock.

About Arko

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.