Arko Corp. (ARKO) to Issue Quarterly Dividend of $0.03 on March 21st

Arko Corp. (NASDAQ:ARKOGet Free Report) declared a quarterly dividend on Thursday, February 1st, Zacks reports. Investors of record on Monday, March 11th will be paid a dividend of 0.03 per share on Thursday, March 21st. This represents a $0.12 annualized dividend and a yield of 1.87%. The ex-dividend date is Friday, March 8th.

Arko has a dividend payout ratio of 1,200.0% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Analysts expect Arko to earn $0.28 per share next year, which means the company should continue to be able to cover its $0.12 annual dividend with an expected future payout ratio of 42.9%.

Arko Price Performance

Shares of NASDAQ:ARKO opened at $6.41 on Wednesday. The business’s 50 day simple moving average is $7.88 and its 200-day simple moving average is $7.68. The firm has a market capitalization of $744.71 million, a price-to-earnings ratio of 25.64 and a beta of 0.30. The company has a debt-to-equity ratio of 3.77, a current ratio of 1.54 and a quick ratio of 1.03. Arko has a 12 month low of $6.26 and a 12 month high of $9.10.

Arko (NASDAQ:ARKOGet Free Report) last announced its quarterly earnings results on Wednesday, February 28th. The company reported $0.06 EPS for the quarter, topping the consensus estimate of $0.04 by $0.02. The business had revenue of $2.23 billion for the quarter, compared to analyst estimates of $2.40 billion. Arko had a return on equity of 12.32% and a net margin of 0.37%. During the same quarter in the previous year, the company earned $0.09 EPS. As a group, equities analysts forecast that Arko will post 0.27 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on ARKO. Wells Fargo & Company cut their price target on Arko from $8.00 to $7.75 and set an “equal weight” rating for the company in a report on Tuesday, November 7th. BMO Capital Markets cut their price target on Arko from $8.00 to $7.00 and set a “market perform” rating for the company in a report on Thursday, February 29th.

Check Out Our Latest Analysis on ARKO

Insider Transactions at Arko

In related news, major shareholder Morris Willner sold 2,792,631 shares of the stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $6.76, for a total transaction of $18,878,185.56. Following the sale, the insider now owns 11,683,980 shares in the company, valued at $78,983,704.80. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 32.16% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Tower Research Capital LLC TRC boosted its holdings in shares of Arko by 149.7% in the first quarter. Tower Research Capital LLC TRC now owns 3,004 shares of the company’s stock valued at $26,000 after acquiring an additional 1,801 shares in the last quarter. Public Employees Retirement System of Ohio boosted its holdings in Arko by 40.5% during the third quarter. Public Employees Retirement System of Ohio now owns 4,172 shares of the company’s stock worth $39,000 after buying an additional 1,203 shares in the last quarter. Ensign Peak Advisors Inc bought a new stake in Arko during the third quarter worth approximately $72,000. ProShare Advisors LLC bought a new stake in Arko during the second quarter worth approximately $85,000. Finally, LPL Financial LLC bought a new stake in Arko during the second quarter worth approximately $90,000. 75.02% of the stock is currently owned by institutional investors.

Arko Company Profile

(Get Free Report)

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.

Further Reading

Dividend History for Arko (NASDAQ:ARKO)

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