JPMorgan Chase & Co. Has $294,000 Stake in ARKO Corp. $ARKO

Key Points

• JPMorgan Chase & Co. cut its ARKO stake by 91.2% in the third quarter, selling 669,189 shares and retaining 64,417 shares worth about $294,000.
• ARKO CFO Charles Galagher Jeff bought 40,000 shares at $5.07 on March 17 (~$202,800), and company insiders now own 22.5% of the stock.
• Wall Street consensus is a Hold with a $7.00 target; ARKO has a $677.5M market cap, recently beat quarterly EPS estimates ($0.02 vs. -$0.01), and pays a $0.03 quarterly dividend (2.0% yield, DPR 85.71%).

JPMorgan Chase & Co. trimmed its stake in shares of ARKO Corp. (NASDAQ:ARKO - Free Report) by 91.2% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 64,417 shares of the company's stock after selling 669,189 shares during the period. JPMorgan Chase & Co. owned about 0.06% of ARKO worth $294,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in ARKO. Phoenix Financial Ltd. raised its stake in shares of ARKO by 20.4% in the 3rd quarter. Phoenix Financial Ltd. now owns 7,309,430 shares of the company's stock valued at $33,404,000 after purchasing an additional 1,239,512 shares during the period. Vanguard Group Inc. raised its stake in shares of ARKO by 0.6% in the 3rd quarter. Vanguard Group Inc. now owns 3,795,048 shares of the company's stock valued at $17,343,000 after purchasing an additional 22,532 shares during the period. Dimensional Fund Advisors LP raised its stake in shares of ARKO by 2.3% in the 3rd quarter. Dimensional Fund Advisors LP now owns 2,798,778 shares of the company's stock valued at $12,790,000 after purchasing an additional 63,779 shares during the period. Goldman Sachs Group Inc. raised its stake in shares of ARKO by 37.0% in the 1st quarter. Goldman Sachs Group Inc. now owns 762,864 shares of the company's stock valued at $3,013,000 after purchasing an additional 206,061 shares during the period. Finally, Bridgeway Capital Management LLC raised its stake in shares of ARKO by 7.2% in the 3rd quarter. Bridgeway Capital Management LLC now owns 719,985 shares of the company's stock valued at $3,290,000 after purchasing an additional 48,587 shares during the period. 78.29% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reissued a "sell (d+)" rating on shares of ARKO in a research note on Friday, April 10th. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, ARKO currently has an average rating of "Hold" and a consensus target price of $7.00.

Insiders Place Their Bets

In other ARKO news, CFO Charles Galagher Jeff bought 40,000 shares of the firm's stock in a transaction that occurred on Tuesday, March 17th. The stock was acquired at an average price of $5.07 per share, with a total value of $202,800.00. Following the completion of the transaction, the chief financial officer owned 40,000 shares in the company, valued at approximately $202,800. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 22.50% of the company's stock.

ARKO Stock Up 7.6%

ARKO stock opened at $6.11 on Thursday. The company has a market cap of $677.54 million, a P/E ratio of 43.65 and a beta of 0.86. ARKO Corp. has a 1-year low of $3.71 and a 1-year high of $6.70. The company has a fifty day simple moving average of $5.83 and a 200 day simple moving average of $5.06. The company has a current ratio of 1.66, a quick ratio of 1.22 and a debt-to-equity ratio of 4.02.

ARKO (NASDAQ:ARKO - Get Free Report) last released its earnings results on Wednesday, February 25th. The company reported $0.02 earnings per share for the quarter, beating analysts' consensus estimates of ($0.01) by $0.03. The business had revenue of $1.79 billion during the quarter, compared to the consensus estimate of $1.81 billion. ARKO had a net margin of 0.30% and a return on equity of 8.58%. Research analysts anticipate that ARKO Corp. will post 0.2 earnings per share for the current fiscal year.

ARKO Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, March 20th. Investors of record on Tuesday, March 10th were given a $0.03 dividend. The ex-dividend date of this dividend was Tuesday, March 10th. This represents a $0.12 dividend on an annualized basis and a yield of 2.0%. ARKO's dividend payout ratio (DPR) is 85.71%.

ARKO Profile

ARKO Corp NASDAQ: ARKO is a downstream energy and convenience retail company based in Matthews, North Carolina. The company's core operations encompass fuel supply, distribution and retailing through a network of terminals, independent dealer locations and company-operated convenience stores. ARKO's fuel offerings include branded and unbranded gasoline and diesel, as well as lubricants and other petroleum products marketed under various regional and private labels.

In its retail segment, ARKO operates a portfolio of convenience stores under the Kangaroo Express banner, serving on-site customers with fuel, grab-and-go food items, beverages and everyday household essentials.

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