Last Updated on 08/16/2021 by GS Staff
Is QuikTrip Publicly Traded?
QuikTrip is not publicly traded. It ranks #29 on the Forbes largest private companies list. Since the company is private, there is not a publicly-traded QuikTrip stock. The stock does not trade on a stock exchange such as the NYSE or NASDAQ. It also does not have a ticker symbol or stock price.
While the general public cannot purchase QuikTrip stock, employees can participate in the company’s employee stock ownership plan (ESOP). The corporation contributes to this plan on an annual basis. Contributions of the company stock are equal to a certain percentage of pretax profit. The plan requires 1,000 hours of service during the plan year for employees to be eligible for the ESOP. Interestingly, fellow convenience and gas store, Wawa, has a similar model of no public stock but an employee stock ownership plan.
Who Owns QuikTrip
The ESOP owns approximately 20% of the company. The remaining portion of Quiktrip is owned by the Cadieux Family with Chet Cadieux III being the CEO. Chet’s father, Chester Cadieux and Burt Holmes started the business in 1958 with the first location that opened in Tulsa, Oklahoma. Approximately four years later, the company had eight stores and became profitable. Quiktrip now has more than 830 stores/gas stations in 11 states.
Will QuikTrip Ever Be Public?
When Chester Cadieux died in 2016, the rumors began to swirl that QuikTrip would now be free to go public. It was known that Chester had no interest in a public QuikTrip during his lifetime. He clearly had no interest in selling it either.
Unfortunately, for those dreaming of a QuikTrip stock it appears that Chet isn’t willing to sell/bring public the company either. It has now been over five years since Chester died and the company is still private. We would speculate that QuikTrip will remain private for the foreseeable future. However, anything is possible in the business world.
Quiktrip Public Competitors
Here are a few competitors of QuikTrip that you may wish to consider researching for potential investment purposes. Keep in mind that not all of these companies operate in the same markets as QuikTrip.
|Haymaker Acquisition Corp. II (HYAC)||One of the largest gas station and convenience store chains in America with approximately 1,400 locations.|
|Murphy USA (MUSA)||Murphy USA runs gas stations and convenience stores next to many Walmart stores.|
|Casey’s General Store (CASY)||Casey’s operates over 2,200 stores in 16 states with most stores located in the Midwest.|
|TravelCenters of America (TA)||TravelCenters of America has over 270 locations in 44 states and in Canada. It operates more than 600 restaurants under the names Iron Skillet and Country Pride.|
|Arko (ARKO)||Arko has about 2,950 locations and can be found in 33 states.|
Image Credit – Kurt Nordstrom/flickr