What is Wawa’s stock price, and are they publicly traded? Unfortunately, investors cannot purchase shares of Wawa because it is a private company. However, Casey’s (NASDAQ: CASY), Chevron (NYSE: CVX ), and Parkland (TSX: ATD) are grocery stocks that traders can invest in.
Wawa is a familiar name and sight for those living on the United States’s East Coast. For those who live elsewhere, you might not be familiar with this chain of gas stations and convenience stores. Every time you stop in at a Wawa, it’s packed! This has me thinking about how good business must be and if Wawa would be a good company to invest in. Are you interested in buying Wawa stock? Then this article is for you!
Something must be said about convenience stores opening earlier and later than traditional supermarkets. For people who work early or late at night, stores like Wawa are convenient for picking up food and other necessities.
Most vehicles still use fossil fuels, so demand for gas stations isn’t going anywhere either! If you’re like me, you’ve often wondered about investing in these businesses. This article will discuss investing in Wawa stock, its history, and whether you should invest in some of its competitors.
Table of Contents
Wawa Introduction (No Stock Symbol)
Wawa is a regional chain of gas stations and convenience stores established in 1964 in Wawa, Pennsylvania. It is the largest convenience store brand in the Greater Philadelphia area, with over 1,000 locations across more than ten different states, with more being added soon. Wawa is family-owned and has been since the nineteenth century.
The Wawa company can trace its roots back to 1803 when the family started an iron foundry business. In 1890, the family moved to Pennsylvania, where it would open the Wawa Dairy Farm after acquiring dairy cows from the island of Guernsey. Wawa delivered milk to customers’ homes, and business took off when the popularity of milk surged during the 1920s.
As consumers started to buy milk and other groceries at supermarkets, the need for Wawa’s dairy service waned. In 1964, Wawa opened its first grocery store in Folsom, Pennsylvania, called the Wawa Food Market. It was founded by Grahame Wood, the grandson of George Wood, who established the Wawa dairy farm. Grahame would be instrumental in leading the Wawa brand through multiple evolutions, including its current form of a convenience store with a gas station.
Today, Wawa is a full-service brand that offers everything from catering to food delivery. All of this and more can be ordered using the Wawa mobile app. The company has come a long way since it was a dairy farm in the 19th century. George Wood’s business savvy helped pave the road for the Wood family and Wawa’s legacy. What about Wawa stock?
Can I Buy Wawa Stock?
Whenever investors learn about a great company, they immediately turn their minds to investing in it. So, can you buy Wawa stock in 2024? Unfortunately, Wawa is still a private, family-owned business and does not trade on any stock market.
It’s impressive for a large and successful business such as Wawa to remain within the family for so long. Since its humble beginnings, the Wawa company has been in business for over 200 years. The convenience store and gas station combo celebrated its 60th anniversary after being established in 1964.
Will Wawa stock ever trade on the public market? Anything is possible in the world of business. Another company could eventually buy Wawa from the Wood family. Alternatively, the Wood family could one day say let’s go public and file an IPO for Wawa. If that were the case, would you buy Wawa stock? I know I would!
Wawa Employee Stock Ownership Program
Here’s an interesting twist: Wawa employees can own Wawa stock. How is that possible? Through Wawa’s stock ownership program, which started in 1992. The company had a profit-sharing program since 1977, but it wasn’t until 1992 that Wawa formalized its stock-ownership plan. The payouts are based on the previous year’s service as long as they work 1,000 or more hours for the year.
As of 2024, the employee stock ownership program owns nearly 40% of the company’s stock. How can a private company have stock? Wawa does a regular valuation check to determine the true value of the employees’ stock. This Wawa stock can be owned in investment or retirement accounts like the company’s 401K that it offers employees.
If Wawa chooses to go public one day, the Wawa stock owned through the ownership program will be converted into common or preferred shares. This program is an excellent way for Wawa to reward its employees and provide an extra incentive to work and stay with the company.
Wawa Stock Competitors
If you’re still reading, it looks like I’ve been able to convince you that Wawa would be a great investment. Unfortunately, unless you decide to work for Wawa, you won’t be able to get your hands on any Wawa stock. So, are there any stocks like Wawa that trade publicly for the rest of us? You bet! Here is our list of Wawa stock competitors you can own today!
1. Casey’s (NASDAQ: CASY)
If you live in the Midwest or Southern United States, you have likely been through Casey’s convenience store in your time. Casey’s is a great Wawa stock alternative. This Iowa-based convenience chain has over 2,500 locations scattered across sixteen states. It is the third-largest convenience store chain in the United States, following only Circle K and 7-Eleven.
Casey’s provides fast food for pickup or delivery, gas and fuel, and even groceries. Like Wawa, it is a one-stop shop for any consumer looking for a late-night snack or quick fill-up. Casey’s has aggressively expanded nationwide, acquiring 22 convenience stores in Northern Texas for its first expansion into the Lonestar State.
This convenience store stock has been a winner for its shareholders. Over the past five years, CASY has returned a market-beating 145% compared to 86% from the S&P 500. The stock even past a modest dividend yield of 0.53%, which equates to about $1.72 per share annually.
2. Chevron (NYSE: CVX)
We go from one chain of convenience stores to one of the world’s largest oil and gas companies. Another great Wawa stock alternative, Chevron, is the third-largest energy company in the world by market cap and currently operates over 7,000 gas stations across the United States. It also owns the Texaco brand, which operates in the US and the UK, and Caltex in Asia and Africa.
Chevron operates in upstream, midstream, and downstream oil and gas processes. It explores and produces oil and gas, refines it, and ships and transports it worldwide. Chevron stock has been a relative underperformer, even with its status as an oil giant. Shares of CVX have returned just 22.7% over the past five years, although that has come with a generous 4.25% quarterly dividend yield.
3. Aliementation Couche Tard (TSX: ATD)
Although it’s name is a mouthful (it’s French!), Alimentation Couche Tard has been an excellent investment in recent years. ATD is a Canadian company that is a multinational operator of convenience stores like Mac’s, On the Run, and Circle K. The company operates more than 14,400 convenience stores across more than 24 countries.
This stock trades on the Toronto Stock Exchange and in Canadian dollars. You will need a brokerage that offers access to the TSX to trade this stock. If you can, it has been one of the best winners for Canadian shareholders, with an 84.5% return over the past five years. ATD does not pay a dividend and is the thirteenth-largest Canadian stock by market cap.
4. Parkland (TSX: PKI)
There must be something about Canada’s gas stations and convenience stores that makes them great investments. Parkland operates over 4,000 gas stations across 25 different countries. It owns the rights to operate gas stations using brands such as Chevron in Canada. It also owns other Canadian businesses like Pioneer Energy and M&M Food Market.
This company recently sold off its Canadian propane business to Avenir Energy Ltd for $150 million. The stock has returned a slight loss over the past five years but does pay a solid quarterly dividend yield of 3.68%.
Convenient Stores and Gas Stations
As you can see from our list, investing in gas stations and convenience stores depends on the company you are investing in. If you invested in a stock like Casey’s, you would be thrilled with the returns and performance. Ironically, if you invested in Chevron, you wouldn’t be too impressed with the stock’s five-year performance.
Convenience Stores offer high margins, plenty of volume, and a fairly loyal customer base. Gas stations are still a staple in the world despite the growing popularity of electric vehicles. These offer excellent options for people needing a quick meal or groceries when supermarkets are closed.
Final Thoughts: Wawa Stock
Wawa is an institution on the East Coast of the United States and one of the country’s largest gas station and convenience store chains. Unfortunately, it is a privately owned company that doesn’t trade on any stock market. As you can see from some of its publicly traded, Wawa would make for a great investment.
If you enjoyed this Wawa stock article, check out our investing community at BullishBears.com!
Frequently Asked Questions
As of 2024, you cannot buy Wawa stock on the stock market. Wawa is a private company owned by the same family for generations. Wawa also has no plans to go public for the foreseeable future.
Yes! The only people who can buy Wawa stock right now are Wawa employees. Since Wawa is a private company, an independent entity values the shares of Wawa stock. Employees must have worked at least 1,000 hours in the previous year to be eligible for Wawa’s Stock Ownership Program.
Bucc-ees is one of the top rivals of Wawa, with just 48 locations, mostly in Texas. But as the saying goes, everything is bigger in Texas. Buc-ees holds the World Record for the largest gas station in history. Like Wawa, Buc-ees is a privately owned company; you cannot buy its stock.
The Wood family has owned Wawa for over 200 years. George Wood started it as Wawa Dairy and evolved into the current gas station and convenience chain. Wawa’s CEO is Chris Gheysens, and Richard Wood Jr. is the Chairman of the Board of Directors. Employees own about 50% of Wawa through the Employee Stock Ownership Program.
