Truist Financial Corp lowered its holdings in Aramark (NYSE:ARMK – Get Rating) by 23.0% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 24,416 shares of the company’s stock after selling 7,306 shares during the period. Truist Financial Corp’s holdings in Aramark were worth $917,000 as of its most recent SEC filing.
A number of other hedge funds also recently modified their holdings of ARMK. National Bank of Canada FI purchased a new stake in shares of Aramark during the fourth quarter worth $122,000. Signaturefd LLC raised its holdings in shares of Aramark by 37.5% during the fourth quarter. Signaturefd LLC now owns 1,794 shares of the company’s stock worth $66,000 after acquiring an additional 489 shares in the last quarter. NN Investment Partners Holdings N.V. raised its holdings in shares of Aramark by 363.6% during the fourth quarter. NN Investment Partners Holdings N.V. now owns 75,097 shares of the company’s stock worth $2,767,000 after acquiring an additional 58,897 shares in the last quarter. Allspring Global Investments Holdings LLC purchased a new stake in shares of Aramark during the fourth quarter worth $1,135,000. Finally, State of New Jersey Common Pension Fund D raised its holdings in shares of Aramark by 2.4% during the fourth quarter. State of New Jersey Common Pension Fund D now owns 130,114 shares of the company’s stock worth $4,795,000 after acquiring an additional 3,000 shares in the last quarter.
Analyst Ratings Changes
Several brokerages recently issued reports on ARMK. Oppenheimer reiterated an “outperform” rating and set a $45.00 price objective on shares of Aramark in a report on Thursday, March 31st. Morgan Stanley cut their price objective on Aramark from $37.00 to $35.00 and set an “equal weight” rating for the company in a report on Wednesday. Deutsche Bank Aktiengesellschaft began coverage on shares of Aramark in a research report on Tuesday, March 29th. They set a “hold” rating and a $38.00 target price on the stock. Finally, StockNews.com began coverage on shares of Aramark in a research report on Thursday, March 31st. They set a “hold” rating on the stock. One analyst has rated the stock with a sell rating, five have given a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $38.71.
Aramark Trading Down 0.3 %
Shares of NYSE:ARMK opened at $31.97 on Friday. The company has a market cap of $8.21 billion, a P/E ratio of 55.12, a P/E/G ratio of 0.80 and a beta of 1.75. The stock’s 50-day moving average is $31.86 and its 200-day moving average is $34.66. Aramark has a 52-week low of $28.74 and a 52-week high of $39.95. The company has a debt-to-equity ratio of 2.66, a quick ratio of 0.98 and a current ratio of 1.14.
Aramark (NYSE:ARMK – Get Rating) last released its earnings results on Tuesday, May 10th. The company reported $0.22 earnings per share for the quarter, beating the consensus estimate of $0.21 by $0.01. Aramark had a net margin of 1.02% and a return on equity of 6.43%. The business had revenue of $3.86 billion during the quarter, compared to analysts’ expectations of $3.78 billion. During the same quarter last year, the company earned ($0.24) earnings per share. The firm’s revenue was up 36.9% on a year-over-year basis. Equities research analysts predict that Aramark will post 1.15 earnings per share for the current year.
Aramark Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Wednesday, June 1st. Investors of record on Wednesday, May 18th were paid a $0.11 dividend. This represents a $0.44 annualized dividend and a dividend yield of 1.38%. The ex-dividend date of this dividend was Tuesday, May 17th. Aramark’s payout ratio is presently 75.86%.
Aramark Profile
Aramark provides food, facilities, and uniform services to education, healthcare, business and industry, sports, leisure, and corrections clients in the United States and internationally. It operates through three segments: Food and Support Services United States, Food and Support Services International, and Uniform and Career Apparel.
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Source: defenseworld.net
