Wells Fargo & Company MN Acquires 530,848 Shares of CrossAmerica Partners (CAPL)

Wells Fargo & Company MN grew its holdings in CrossAmerica Partners (NYSE:CAPL) by 2,703.0% in the first quarter, HoldingsChannel reports. The institutional investor owned 550,487 shares of the oil and gas company’s stock after acquiring an additional 530,848 shares during the period. Wells Fargo & Company MN’s holdings in CrossAmerica Partners were worth $11,318,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in CAPL. Raymond James Financial Services Advisors Inc. raised its stake in shares of CrossAmerica Partners by 3.3% in the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 90,705 shares of the oil and gas company’s stock valued at $2,154,000 after buying an additional 2,903 shares in the last quarter. Virtu Financial LLC acquired a new position in shares of CrossAmerica Partners in the 4th quarter valued at $391,000. Renaissance Technologies LLC raised its stake in shares of CrossAmerica Partners by 27.6% in the 4th quarter. Renaissance Technologies LLC now owns 112,639 shares of the oil and gas company’s stock valued at $2,675,000 after buying an additional 24,339 shares in the last quarter. Kayne Anderson Capital Advisors LP raised its stake in shares of CrossAmerica Partners by 50.0% in the 4th quarter. Kayne Anderson Capital Advisors LP now owns 15,000 shares of the oil and gas company’s stock valued at $356,000 after buying an additional 5,000 shares in the last quarter. Finally, Deutsche Bank AG raised its stake in shares of CrossAmerica Partners by 150.9% in the 4th quarter. Deutsche Bank AG now owns 241,552 shares of the oil and gas company’s stock valued at $5,736,000 after buying an additional 145,272 shares in the last quarter. Institutional investors own 33.00% of the company’s stock.

A number of equities analysts have recently issued reports on the stock. Zacks Investment Research upgraded shares of CrossAmerica Partners from a “sell” rating to a “hold” rating in a research note on Friday, May 11th. ValuEngine cut shares of CrossAmerica Partners from a “sell” rating to a “strong sell” rating in a research note on Tuesday, May 8th. Stephens restated a “hold” rating and issued a $23.00 price objective on shares of CrossAmerica Partners in a research note on Tuesday, April 17th. B. Riley set a $29.00 price objective on shares of CrossAmerica Partners and gave the company a “buy” rating in a research note on Tuesday, May 8th. Finally, Jefferies Financial Group restated a “buy” rating and issued a $28.00 price objective on shares of CrossAmerica Partners in a research note on Thursday, March 1st. Two research analysts have rated the stock with a sell rating, six have given a hold rating and three have issued a buy rating to the stock. CrossAmerica Partners presently has an average rating of “Hold” and a consensus price target of $27.29.

Shares of CrossAmerica Partners opened at $15.84 on Monday, MarketBeat.com reports. The stock has a market cap of $542.97 million, a P/E ratio of -198.00, a PEG ratio of 11.15 and a beta of 1.14. The company has a quick ratio of 0.65, a current ratio of 0.81 and a debt-to-equity ratio of 3.54. CrossAmerica Partners has a 12-month low of $15.50 and a 12-month high of $29.80.

The company also recently announced a quarterly dividend, which was paid on Friday, May 25th. Investors of record on Friday, May 18th were given a dividend of $0.525 per share. This represents a $2.10 dividend on an annualized basis and a dividend yield of 13.26%. The ex-dividend date was Thursday, May 17th. CrossAmerica Partners’s dividend payout ratio (DPR) is currently -2,625.00%.

About CrossAmerica Partners

CrossAmerica Partners LP engages in the wholesale distribution of motor fuels, and ownership and leasing of real estate used in the retail distribution of motor fuels in the United States. The company operates in two segments, Wholesale and Retail. The wholesale segment engages in the wholesale distribution of motor fuels to lessee dealers, independent dealers, commission agents, operators of retail motor fuel stations, Circle K Stores Inc, and company operated retail sites.

Want to see what other hedge funds are holding CAPL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for CrossAmerica Partners (NYSE:CAPL).

Institutional Ownership by Quarter for CrossAmerica Partners (NYSE:CAPL)

Receive News & Ratings for CrossAmerica Partners Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CrossAmerica Partners and related companies with MarketBeat.com's FREE daily email newsletter.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on Google Plus
share on reddit