Aramark (NYSE:ARMK) Sees Significant Growth in Short Interest

Aramark (NYSE:ARMKGet Free Report) was the target of a large increase in short interest during the month of May. As of May 15th, there was short interest totalling 5,890,000 shares, an increase of 6.5% from the April 30th total of 5,530,000 shares. Based on an average daily volume of 2,560,000 shares, the short-interest ratio is presently 2.3 days.

Aramark Price Performance

Aramark stock opened at $32.06 on Tuesday. Aramark has a 52 week low of $23.95 and a 52 week high of $34.00. The company’s 50 day moving average price is $32.07 and its two-hundred day moving average price is $30.22. The company has a quick ratio of 1.11, a current ratio of 1.25 and a debt-to-equity ratio of 2.03. The stock has a market cap of $8.43 billion, a P/E ratio of 13.47, a P/E/G ratio of 1.28 and a beta of 1.56.

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

Aramark Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, May 28th. Shareholders of record on Monday, May 13th were given a dividend of $0.095 per share. The ex-dividend date of this dividend was Friday, May 10th. This represents a $0.38 annualized dividend and a dividend yield of 1.19%. Aramark’s dividend payout ratio is currently 15.97%.

Institutional Investors Weigh In On Aramark

Hedge funds have recently modified their holdings of the stock. Industrial Alliance Investment Management Inc. raised its holdings in shares of Aramark by 3.3% in the 1st quarter. Industrial Alliance Investment Management Inc. now owns 10,660 shares of the company’s stock worth $347,000 after purchasing an additional 340 shares during the period. Twin Tree Management LP raised its holdings in shares of Aramark by 32.0% in the 1st quarter. Twin Tree Management LP now owns 1,424 shares of the company’s stock worth $46,000 after purchasing an additional 345 shares during the period. Treasurer of the State of North Carolina raised its holdings in shares of Aramark by 0.4% in the 3rd quarter. Treasurer of the State of North Carolina now owns 106,146 shares of the company’s stock worth $3,683,000 after purchasing an additional 420 shares during the period. Daiwa Securities Group Inc. raised its holdings in shares of Aramark by 2.3% in the 1st quarter. Daiwa Securities Group Inc. now owns 19,540 shares of the company’s stock worth $635,000 after purchasing an additional 432 shares during the period. Finally, M&T Bank Corp raised its holdings in shares of Aramark by 5.7% in the 4th quarter. M&T Bank Corp now owns 8,129 shares of the company’s stock worth $229,000 after purchasing an additional 442 shares during the period.

Analyst Ratings Changes

ARMK has been the subject of a number of recent analyst reports. Royal Bank of Canada reiterated a “sector perform” rating and set a $33.00 price target on shares of Aramark in a report on Wednesday, February 7th. Morgan Stanley increased their price target on Aramark from $28.00 to $30.00 and gave the stock an “equal weight” rating in a report on Wednesday, February 7th. Truist Financial increased their price target on Aramark from $35.00 to $37.00 and gave the stock a “buy” rating in a report on Wednesday, March 20th. Finally, Robert W. Baird increased their price target on Aramark from $35.00 to $37.00 and gave the stock a “neutral” rating in a report on Wednesday, May 8th. One research analyst has rated the stock with a sell rating, four have given a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $33.32.

Check Out Our Latest Stock Analysis on ARMK

About Aramark

(Get 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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