New York State Common Retirement Fund Sells 8,288 Shares of Aramark (NYSE:ARMK)

New York State Common Retirement Fund decreased its position in shares of Aramark (NYSE:ARMK) by 3.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 218,724 shares of the company’s stock after selling 8,288 shares during the period. New York State Common Retirement Fund’s holdings in Aramark were worth $6,146,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the business. New York Life Investment Management LLC raised its stake in Aramark by 112.2% during the 3rd quarter. New York Life Investment Management LLC now owns 27,665 shares of the company’s stock valued at $960,000 after purchasing an additional 14,628 shares during the last quarter. New York State Teachers Retirement System lifted its position in Aramark by 24.1% in the fourth quarter. New York State Teachers Retirement System now owns 141,849 shares of the company’s stock worth $3,986,000 after purchasing an additional 27,522 shares during the period. Nordea Investment Management AB lifted its holdings in shares of Aramark by 121.0% during the 4th quarter. Nordea Investment Management AB now owns 368,303 shares of the company’s stock worth $10,268,000 after acquiring an additional 201,623 shares during the period. Envestnet Asset Management Inc. boosted its holdings in Aramark by 451.3% during the third quarter. Envestnet Asset Management Inc. now owns 107,062 shares of the company’s stock valued at $3,715,000 after purchasing an additional 87,641 shares in the last quarter. Finally, CenterBook Partners LP raised its holdings in shares of Aramark by 143.8% in the 3rd quarter. CenterBook Partners LP now owns 90,635 shares of the company’s stock worth $3,145,000 after buying an additional 53,463 shares in the last quarter.

Wall Street Analyst Weigh In

ARMK has been the subject of a number of analyst reports. Royal Bank of Canada reissued a “sector perform” rating and set a $33.00 price objective on shares of Aramark in a report on Wednesday, February 7th. The Goldman Sachs Group started coverage on Aramark in a research note on Wednesday, January 17th. They issued a “buy” rating and a $33.00 target price for the company. Morgan Stanley boosted their price objective on shares of Aramark from $28.00 to $30.00 and gave the stock an “equal weight” rating in a research report on Wednesday, February 7th. Finally, Truist Financial boosted their target price on Aramark from $35.00 to $37.00 and gave the stock a “buy” rating in a research report on Wednesday, March 20th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $33.04.

Aramark Stock Down 0.0 %

NYSE:ARMK opened at $30.92 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. The stock has a 50-day moving average price of $31.61 and a two-hundred day moving average price of $29.43. Aramark has a 1 year low of $23.95 and a 1 year high of $33.04. The stock has a market cap of $8.12 billion, a price-to-earnings ratio of 12.94, a PEG ratio of 1.25 and a beta of 1.47.

Aramark (NYSE:ARMK) last released its quarterly earnings results on Tuesday, February 6th. The company reported $0.41 earnings per share for the quarter, beating the consensus estimate of $0.36 by $0.05. Aramark had a net margin of 3.37% and a return on equity of 13.45%. The company had revenue of $4.41 billion during the quarter, compared to analysts’ expectations of $4.29 billion. During the same quarter in the prior year, the company earned $0.41 earnings per share. The business’s quarterly revenue was up 12.6% compared to the same quarter last year. As a group, equities analysts expect that Aramark will post 1.56 earnings per share for the current year.

Aramark Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, May 28th. Shareholders of record on Monday, May 13th will be issued a dividend of $0.095 per share. This represents a $0.38 dividend on an annualized basis and a yield of 1.23%. The ex-dividend date is Friday, May 10th. Aramark’s dividend payout ratio (DPR) is presently 15.90%.

About Aramark

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.