Mutual of America Capital Management LLC Has $2,302,000 Position in CrossAmerica Partners LP (CAPL)
Mutual of America Capital Management LLC raised its stake in CrossAmerica Partners LP (NYSE:CAPL) by 0.5% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 90,672 shares of the company’s stock after buying an additional 443 shares during the period. Mutual of America Capital Management LLC owned 0.27% of CrossAmerica Partners worth $2,302,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Brown Advisory Inc. bought a new stake in CrossAmerica Partners during the second quarter worth about $368,000. Global X Management Co. LLC increased its stake in CrossAmerica Partners by 10.8% in the second quarter. Global X Management Co. LLC now owns 284,092 shares of the company’s stock worth $6,966,000 after buying an additional 27,801 shares in the last quarter. Wells Fargo & Company MN increased its stake in CrossAmerica Partners by 12.9% in the third quarter. Wells Fargo & Company MN now owns 13,250 shares of the company’s stock worth $336,000 after buying an additional 1,519 shares in the last quarter. Welch Capital Partners LLC NY bought a new stake in CrossAmerica Partners during the third quarter worth about $3,103,000. Finally, Royal Bank of Canada increased its stake in CrossAmerica Partners by 1.4% in the second quarter. Royal Bank of Canada now owns 19,512 shares of the company’s stock worth $479,000 after buying an additional 264 shares in the last quarter. 35.34% of the stock is owned by hedge funds and other institutional investors.
Shares of CrossAmerica Partners LP (NYSE:CAPL) traded down 0.94% during mid-day trading on Monday, hitting $25.40. 27,627 shares of the stock were exchanged. CrossAmerica Partners LP has a 52-week low of $17.39 and a 52-week high of $27.91. The company has a market cap of $851.23 million, a P/E ratio of 88.81 and a beta of 1.37. The stock’s 50-day moving average price is $25.97 and its 200-day moving average price is $24.91.
The company also recently announced a quarterly dividend, which was paid on Tuesday, November 15th. Investors of record on Friday, November 4th were paid a dividend of $0.6075 per share. This represents a $2.43 dividend on an annualized basis and a dividend yield of 9.48%. This is a positive change from CrossAmerica Partners’s previous quarterly dividend of $0.51. The ex-dividend date of this dividend was Wednesday, November 2nd. CrossAmerica Partners’s dividend payout ratio is presently 867.86%.
CAPL has been the topic of a number of analyst reports. Zacks Investment Research upgraded shares of CrossAmerica Partners from a “sell” rating to a “hold” rating in a research report on Wednesday, August 3rd. Robert W. Baird cut their target price on shares of CrossAmerica Partners from $36.00 to $30.00 and set an “outperform” rating on the stock in a research note on Tuesday, August 23rd. Bank of America Corp. initiated coverage on shares of CrossAmerica Partners in a research note on Wednesday, September 7th. They set a “buy” rating and a $27.00 target price on the stock. FBR & Co initiated coverage on shares of CrossAmerica Partners in a research note on Friday, September 9th. They set an “outperform” rating and a $35.00 target price on the stock. Finally, RBC Capital Markets initiated coverage on shares of CrossAmerica Partners in a research note on Thursday, October 27th. They set a “sector perform” rating and a $28.00 target price on the stock. Six analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $28.11.
In other news, Director Joseph V. Jr. Topper acquired 15,000 shares of the firm’s stock in a transaction dated Thursday, September 1st. The stock was acquired at an average cost of $25.92 per share, with a total value of $388,800.00. Following the completion of the acquisition, the director now owns 159,334 shares of the company’s stock, valued at $4,129,937.28. The acquisition was disclosed in a legal filing with the SEC, which is available through this link.
CrossAmerica Partners Company Profile
CrossAmerica Partners LP is a limited partnership engaged in the wholesale distribution of motor fuel, and the ownership and leasing of real estate used in the retail distribution of motor fuel. The Company operates in two segments: wholesale and retail. The Company’s sites are located in Pennsylvania, New Jersey, Ohio, New York, Massachusetts, Kentucky, New Hampshire, Maine, Florida, Maryland, Delaware, Tennessee, Virginia, Illinois, Indiana and West Virginia.
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