Raymond James & Associates Lowers Position in Aramark (NYSE:ARMK)

Raymond James & Associates cut its holdings in Aramark (NYSE:ARMK) by 23.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 13,824 shares of the company’s stock after selling 4,274 shares during the quarter. Raymond James & Associates’ holdings in Aramark were worth $388,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. New York Life Investment Management LLC raised its holdings in Aramark by 112.2% in the third quarter. New York Life Investment Management LLC now owns 27,665 shares of the company’s stock worth $960,000 after purchasing an additional 14,628 shares in the last quarter. Nordea Investment Management AB raised its holdings in Aramark by 121.0% in the fourth quarter. Nordea Investment Management AB now owns 368,303 shares of the company’s stock worth $10,268,000 after purchasing an additional 201,623 shares in the last quarter. Envestnet Asset Management Inc. raised its holdings in Aramark by 451.3% in the third quarter. Envestnet Asset Management Inc. now owns 107,062 shares of the company’s stock worth $3,715,000 after purchasing an additional 87,641 shares in the last quarter. CenterBook Partners LP raised its holdings in Aramark by 143.8% in the third quarter. CenterBook Partners LP now owns 90,635 shares of the company’s stock worth $3,145,000 after purchasing an additional 53,463 shares in the last quarter. Finally, Mitsubishi UFJ Kokusai Asset Management Co. Ltd. increased its holdings in shares of Aramark by 34.1% during the third quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 112,505 shares of the company’s stock valued at $3,904,000 after acquiring an additional 28,619 shares in the last quarter.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on ARMK shares. Morgan Stanley upped their price objective on shares of Aramark from $28.00 to $30.00 and gave the company an “equal weight” rating in a report on Wednesday, February 7th. Royal Bank of Canada restated a “sector perform” rating and set a $33.00 price objective on shares of Aramark in a report on Wednesday, February 7th. Truist Financial upped their price objective on shares of Aramark from $35.00 to $37.00 and gave the company a “buy” rating in a report on Wednesday, March 20th. Finally, The Goldman Sachs Group initiated coverage on shares of Aramark in a report on Wednesday, January 17th. They set a “buy” rating and a $33.00 price objective on the stock. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and ten have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $33.04.

Aramark Trading Up 0.1 %

Aramark stock opened at $32.35 on Friday. The company has a current ratio of 1.27, a quick ratio of 1.12 and a debt-to-equity ratio of 2.08. Aramark has a 12 month low of $23.95 and a 12 month high of $33.04. The stock’s 50 day simple moving average is $31.56 and its two-hundred day simple moving average is $29.27. The firm has a market cap of $8.49 billion, a PE ratio of 13.54, a P/E/G ratio of 1.30 and a beta of 1.48.

Aramark (NYSE:ARMK) last released its quarterly earnings data on Tuesday, February 6th. The company reported $0.41 EPS for the quarter, topping the consensus estimate of $0.36 by $0.05. Aramark had a return on equity of 13.45% and a net margin of 3.37%. The business had revenue of $4.41 billion for the quarter, compared to analyst estimates of $4.29 billion. During the same quarter in the prior year, the firm posted $0.41 EPS. The business’s quarterly revenue was up 12.6% compared to the same quarter last year. Analysts anticipate that Aramark will post 1.56 earnings per share for the current year.

Aramark Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, February 28th. Shareholders of record on Wednesday, February 14th were given a $0.095 dividend. The ex-dividend date was Tuesday, February 13th. This represents a $0.38 annualized dividend and a yield of 1.17%. Aramark’s dividend payout ratio is presently 15.90%.

Aramark Company Profile

Aramark provides food and facilities services to education, healthcare, business and industry, sports, leisure, and corrections clients in the United States and internationally. It operates through two segments, Food and Support Services United States, and Food and Support Services International. The company offers food-related managed services, including dining, catering, food service management, and convenience-oriented retail services; non-clinical food and food-related support services, such as patient food and nutrition, retail food, environmental services, and procurement services; and plant operations and maintenance, custodial/housekeeping, energy management, grounds keeping, and capital project management services.