Arko Corp. (NASDAQ:ARKO) Shares Bought by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company boosted its position in shares of Arko Corp. (NASDAQ:ARKO) by 5.6% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 32,893 shares of the company’s stock after acquiring an additional 1,734 shares during the period. The Manufacturers Life Insurance Company’s holdings in Arko were worth $206,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of ARKO. CWM LLC boosted its holdings in shares of Arko by 72.8% in the 2nd quarter. CWM LLC now owns 4,791 shares of the company’s stock valued at $30,000 after buying an additional 2,018 shares in the last quarter. Principal Financial Group Inc. acquired a new position in shares of Arko in the 1st quarter valued at $61,000. Arizona State Retirement System boosted its holdings in shares of Arko by 27.9% in the 2nd quarter. Arizona State Retirement System now owns 18,476 shares of the company’s stock valued at $116,000 after buying an additional 4,030 shares in the last quarter. SG Americas Securities LLC acquired a new position in shares of Arko in the 2nd quarter valued at $119,000. Finally, MQS Management LLC acquired a new position in shares of Arko in the 1st quarter valued at $132,000. Institutional investors and hedge funds own 78.29% of the company’s stock.

Analysts Set New Price Targets

Separately, Wells Fargo & Company upped their target price on shares of Arko from $5.00 to $6.25 and gave the company an “equal weight” rating in a report on Thursday, August 8th.

Arko Stock Up 0.3 %

ARKO stock opened at $6.87 on Friday. The company has a market cap of $795.16 million, a price-to-earnings ratio of 26.42 and a beta of 0.46. The company has a fifty day moving average price of $6.56 and a 200 day moving average price of $5.95. The company has a debt-to-equity ratio of 3.97, a current ratio of 1.58 and a quick ratio of 1.06. Arko Corp. has a 12 month low of $4.09 and a 12 month high of $8.42.

Arko (NASDAQ:ARKO) last issued its quarterly earnings results on Tuesday, August 6th. The company reported $0.11 earnings per share for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.07). The business had revenue of $2.39 billion for the quarter, compared to analyst estimates of $2.41 billion. Arko had a return on equity of 13.12% and a net margin of 0.39%. During the same quarter in the prior year, the company earned $0.11 EPS. Sell-side analysts expect that Arko Corp. will post 0.31 earnings per share for the current year.

Arko Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 30th. Investors of record on Monday, August 19th were paid a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a yield of 1.75%. The ex-dividend date of this dividend was Monday, August 19th. Arko’s dividend payout ratio is currently 46.15%.

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.