218,577 Shares in Yesway, Inc. $YSWY Purchased by State Street Corp

Key Points

• State Street Corp purchased 218,577 Yesway shares worth approximately $4.44 million, representing a 0.35% stake. Other institutions, including Wellington Management, also opened new positions during the second quarter.
• Yesway shares opened at $19.32, near their 52-week low of $18.92 and below the 50-day moving average of $22.40. The company reported quarterly revenue growth of 35.9% year over year but missed earnings expectations, posting $0.21 EPS versus the $0.35 consensus.
• Analyst sentiment remains moderately bullish, with a consensus “Moderate Buy” rating and an average price target of $29.62. Recent targets include Guggenheim’s $32 price objective and JPMorgan’s $27 target.

State Street Corp bought a new position in Yesway, Inc. (NASDAQ:YSWY - Free Report) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 218,577 shares of the company's stock, valued at approximately $4,437,000. State Street Corp owned 0.35% of Yesway as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in YSWY. Engineers Gate Manager LP purchased a new stake in Yesway in the 2nd quarter valued at about $675,000. Wellington Management Group LLP purchased a new position in shares of Yesway during the 2nd quarter worth about $18,747,000. Finally, Bank of New York Mellon Corp acquired a new stake in shares of Yesway in the second quarter worth approximately $869,000.

Yesway Stock Down 0.7%

Shares of YSWY opened at $19.32 on Friday. The firm has a 50-day moving average of $22.40. The company has a market cap of $1.22 billion and a price-to-earnings ratio of 92.00. The company has a quick ratio of 0.91, a current ratio of 1.48 and a debt-to-equity ratio of 0.45. Yesway, Inc. has a 52-week low of $18.92 and a 52-week high of $29.08.

Yesway (NASDAQ:YSWY - Get Free Report) last released its quarterly earnings results on Thursday, August 13th. The company reported $0.21 EPS for the quarter, missing analysts' consensus estimates of $0.35 by ($0.14). The business had revenue of $920.77 million for the quarter. The business's quarterly revenue was up 35.9% on a year-over-year basis. On average, equities analysts expect that Yesway, Inc. will post 1.5 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the stock. Guggenheim reaffirmed a "buy" rating and set a $32.00 price target on shares of Yesway in a research report on Thursday, September 17th. Weiss Ratings lowered shares of Yesway from a "sell (e)" rating to a "sell (e-)" rating in a report on Thursday. JPMorgan Chase & Co. boosted their price objective on shares of Yesway from $25.00 to $27.00 and gave the company a "neutral" rating in a research note on Friday, August 14th. Finally, William Blair started coverage on Yesway in a research report on Tuesday. They issued an "outperform" rating on the stock. Three equities research analysts have rated the stock with a Strong Buy rating, three have given a Buy rating, four have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $29.62.

About Yesway

Yesway is a privately held American convenience-store operator that owns and operates stores under the Yesway and Allsup's brands. The company's locations serve motorists and local communities by offering fuel, prepared food, beverages, snacks, tobacco products, groceries, lottery products and other convenience items.

Founded in 2015, Yesway expanded through acquisitions, including its 2019 purchase of Allsup's, a long-established convenience-store chain based in the Southwest. The company operates stores primarily across the central and southwestern United States, including Texas, New Mexico and other neighboring states.

Yesway is associated with Brookwood Financial Partners and is led by Chief Executive Officer Thomas Trkla.

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