Hsbc Holdings PLC Grows Stock Holdings in Aramark (NYSE:ARMK)

Hsbc Holdings PLC grew its holdings in shares of Aramark (NYSE:ARMKFree Report) by 28.4% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 534,448 shares of the company’s stock after purchasing an additional 118,178 shares during the quarter. Hsbc Holdings PLC owned approximately 0.20% of Aramark worth $14,973,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in the business. Benjamin F. Edwards & Company Inc. purchased a new position in Aramark during the fourth quarter worth about $28,000. Solstein Capital LLC acquired a new stake in Aramark during the fourth quarter worth about $47,000. Fifth Third Bancorp boosted its holdings in Aramark by 82.7% in the fourth quarter. Fifth Third Bancorp now owns 1,873 shares of the company’s stock valued at $53,000 after purchasing an additional 848 shares during the last quarter. Quadrant Capital Group LLC grew its stake in Aramark by 44.0% during the 4th quarter. Quadrant Capital Group LLC now owns 2,716 shares of the company’s stock valued at $76,000 after purchasing an additional 830 shares in the last quarter. Finally, Oppenheimer Asset Management Inc. purchased a new stake in Aramark during the 3rd quarter worth approximately $213,000.

Aramark Stock Performance

Shares of ARMK stock opened at $32.15 on Friday. Aramark has a 12-month low of $23.95 and a 12-month high of $34.00. The business has a 50 day simple moving average of $32.04 and a 200 day simple moving average of $30.17. The company has a debt-to-equity ratio of 2.03, a current ratio of 1.25 and a quick ratio of 1.11. The firm has a market capitalization of $8.46 billion, a price-to-earnings ratio of 13.51, a price-to-earnings-growth ratio of 1.25 and a beta of 1.47.

Aramark (NYSE:ARMKGet Free Report) last released its earnings results on Tuesday, May 7th. The company reported $0.29 earnings per share for the quarter, topping analysts’ consensus estimates of $0.26 by $0.03. Aramark had a return on equity of 13.82% and a net margin of 3.43%. The firm had revenue of $4.20 billion during the quarter, compared to the consensus estimate of $4.25 billion. On average, equities research analysts anticipate that Aramark will post 1.58 EPS for the current year.

Aramark Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, May 28th. Stockholders of record on Monday, May 13th were given a dividend of $0.095 per share. The ex-dividend date was Friday, May 10th. This represents a $0.38 dividend on an annualized basis and a dividend yield of 1.18%. Aramark’s dividend payout ratio (DPR) is presently 15.97%.

Analysts Set New Price Targets

A number of research firms have recently weighed in on ARMK. Truist Financial raised their price target on shares of Aramark from $35.00 to $37.00 and gave the stock a “buy” rating in a research report on Wednesday, March 20th. Morgan Stanley upped their target price on shares of Aramark from $28.00 to $30.00 and gave the company an “equal weight” rating in a research note on Wednesday, February 7th. Robert W. Baird lifted their price target on Aramark from $35.00 to $37.00 and gave the stock a “neutral” rating in a research note on Wednesday, May 8th. Finally, Royal Bank of Canada restated a “sector perform” rating and set a $33.00 price objective on shares of Aramark in a research note on Wednesday, February 7th. One analyst has rated the stock with a sell rating, four have issued a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $33.32.

Check Out Our Latest Report on Aramark

Aramark Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Aramark (NYSE:ARMK)

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