Advisors Asset Management Inc. grew its holdings in Aramark (NYSE:ARMK – Get Rating) by 9.0% in the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 36,136 shares of the company’s stock after buying an additional 2,993 shares during the quarter. Advisors Asset Management Inc.’s holdings in Aramark were worth $1,127,000 at the end of the most recent quarter.
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Several other institutional investors and hedge funds have also bought and sold shares of the business. Arizona State Retirement System lifted its holdings in Aramark by 0.6% in the 2nd quarter. Arizona State Retirement System now owns 64,503 shares of the company’s stock worth $1,976,000 after buying an additional 359 shares during the period. Truist Financial Corp grew its stake in shares of Aramark by 1.5% in the second quarter. Truist Financial Corp now owns 24,791 shares of the company’s stock worth $759,000 after acquiring an additional 375 shares during the last quarter. PNC Financial Services Group Inc. grew its stake in shares of Aramark by 35.9% in the first quarter. PNC Financial Services Group Inc. now owns 1,693 shares of the company’s stock worth $64,000 after acquiring an additional 447 shares during the last quarter. Oppenheimer & Co. Inc. grew its stake in shares of Aramark by 2.1% in the second quarter. Oppenheimer & Co. Inc. now owns 24,037 shares of the company’s stock worth $736,000 after acquiring an additional 500 shares during the last quarter. Finally, Envestnet Asset Management Inc. grew its stake in shares of Aramark by 2.3% in the second quarter. Envestnet Asset Management Inc. now owns 30,854 shares of the company’s stock worth $945,000 after acquiring an additional 680 shares during the last quarter.
Wall Street Analyst Weigh In
A number of research firms have recently commented on ARMK. TheStreet raised Aramark from a “c” rating to a “b-” rating in a research note on Tuesday, November 15th. Deutsche Bank Aktiengesellschaft dropped their price objective on Aramark from $46.00 to $44.00 in a research report on Wednesday, February 8th. Barclays increased their price objective on Aramark from $34.00 to $36.00 and gave the company an “underweight” rating in a research report on Friday, December 2nd. Citigroup increased their price objective on Aramark from $39.00 to $45.00 and gave the company a “neutral” rating in a research report on Friday, January 27th. Finally, Jefferies Financial Group reissued a “hold” rating and issued a $36.00 target price on shares of Aramark in a report on Tuesday, October 25th. One analyst has rated the stock with a sell rating, six have given a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $42.63.
Aramark Stock Up 1.1 %
NYSE ARMK opened at $38.46 on Monday. The stock’s 50-day moving average price is $42.63 and its 200-day moving average price is $38.53. The company has a quick ratio of 0.83, a current ratio of 1.28 and a debt-to-equity ratio of 2.56. Aramark has a 52 week low of $28.74 and a 52 week high of $45.72. The company has a market capitalization of $10.02 billion, a P/E ratio of 44.21, a price-to-earnings-growth ratio of 0.83 and a beta of 1.65.
Aramark (NYSE:ARMK – Get Rating) last posted its quarterly earnings data on Tuesday, November 15th. The company reported $0.48 EPS for the quarter, missing the consensus estimate of $0.49 by ($0.01). Aramark had a return on equity of 11.94% and a net margin of 1.33%. The company had revenue of $4.39 billion during the quarter, compared to the consensus estimate of $4.11 billion. During the same period last year, the business earned $0.21 EPS. The firm’s quarterly revenue was up 23.6% compared to the same quarter last year. On average, equities research analysts predict that Aramark will post 1.81 earnings per share for the current year.
Aramark Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 8th. Investors of record on Wednesday, February 22nd will be given a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a dividend yield of 1.14%. The ex-dividend date is Tuesday, February 21st. Aramark’s dividend payout ratio is currently 50.57%.
Insider Buying and Selling
In related news, EVP Lynn Mckee sold 30,817 shares of the stock in a transaction dated Tuesday, December 13th. The stock was sold at an average price of $42.46, for a total transaction of $1,308,489.82. Following the completion of the sale, the executive vice president now owns 281,714 shares in the company, valued at $11,961,576.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, SVP Lauren A. Harrington sold 9,452 shares of the stock in a transaction dated Tuesday, December 13th. The stock was sold at an average price of $42.48, for a total transaction of $401,520.96. Following the completion of the sale, the senior vice president now owns 64,106 shares in the company, valued at $2,723,222.88. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Lynn Mckee sold 30,817 shares of the firm’s stock in a transaction that occurred on Tuesday, December 13th. The shares were sold at an average price of $42.46, for a total value of $1,308,489.82. Following the transaction, the executive vice president now owns 281,714 shares of the company’s stock, valued at approximately $11,961,576.44. The disclosure for this sale can be found here. 11.02% of the stock is currently owned by company insiders.
About Aramark
Aramark engages in the provision of food, facilities, and uniform services. It operates through the following segments: Food and Support Services United States (FSS United States), Food and Support Services International (FSS International), and Uniform and Career Apparel (Uniform). The FSS United States segment offers food, hospitality and facility services for school districts, colleges and universities, healthcare facilities, businesses, sports, entertainment and recreational venues, conference and convention centers, national and state parks, and correctional institutions.
Further Reading
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