Bank of New York Mellon Corp Sells 85,512 Shares of Aramark (NYSE:ARMK)

Bank of New York Mellon Corp reduced its stake in Aramark (NYSE:ARMK - Free Report) by 2.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,924,024 shares of the company's stock after selling 85,512 shares during the period. Bank of New York Mellon Corp owned 1.10% of Aramark worth $109,095,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the stock. Huntington National Bank boosted its stake in Aramark by 100.3% in the 3rd quarter. Huntington National Bank now owns 681 shares of the company's stock valued at $26,000 after purchasing an additional 341 shares during the period. Capital Performance Advisors LLP acquired a new stake in shares of Aramark during the third quarter worth $28,000. UMB Bank n.a. boosted its position in shares of Aramark by 75.2% in the fourth quarter. UMB Bank n.a. now owns 1,354 shares of the company's stock valued at $51,000 after acquiring an additional 581 shares during the period. Global Retirement Partners LLC grew its stake in shares of Aramark by 167.2% in the fourth quarter. Global Retirement Partners LLC now owns 1,424 shares of the company's stock valued at $53,000 after acquiring an additional 891 shares in the last quarter. Finally, Assetmark Inc. increased its position in Aramark by 62.7% during the third quarter. Assetmark Inc. now owns 2,154 shares of the company's stock worth $83,000 after acquiring an additional 830 shares during the period.

Analyst Ratings Changes

A number of brokerages have issued reports on ARMK. Truist Financial increased their target price on shares of Aramark from $42.00 to $46.00 and gave the stock a "buy" rating in a research report on Tuesday, November 12th. Royal Bank of Canada reissued an "outperform" rating and set a $47.00 price target on shares of Aramark in a research report on Thursday, February 6th. Morgan Stanley lifted their price objective on Aramark from $40.00 to $43.00 and gave the company an "equal weight" rating in a report on Thursday, December 12th. Stifel Nicolaus increased their target price on Aramark from $43.00 to $45.00 and gave the stock a "buy" rating in a report on Tuesday, November 12th. Finally, Citigroup initiated coverage on Aramark in a research note on Monday, February 24th. They issued a "buy" rating and a $48.00 price target for the company. Three analysts have rated the stock with a hold rating and ten have given a buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $43.42.

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Aramark Price Performance

Shares of Aramark stock traded up $0.14 during midday trading on Wednesday, hitting $35.85. 1,711,570 shares of the company traded hands, compared to its average volume of 2,050,681. The firm's fifty day moving average price is $37.68 and its 200-day moving average price is $38.12. The stock has a market cap of $9.50 billion, a price-to-earnings ratio of 28.23 and a beta of 1.64. Aramark has a 12 month low of $29.82 and a 12 month high of $42.49. The company has a debt-to-equity ratio of 1.61, a quick ratio of 0.84 and a current ratio of 0.94.

Aramark (NYSE:ARMK - Get Free Report) last posted its earnings results on Tuesday, February 4th. The company reported $0.51 earnings per share for the quarter, topping analysts' consensus estimates of $0.48 by $0.03. Aramark had a net margin of 1.94% and a return on equity of 14.72%. The firm had revenue of $4.55 billion for the quarter, compared to analysts' expectations of $4.61 billion. During the same quarter in the previous year, the firm posted $0.41 earnings per share. The company's revenue was up 3.3% on a year-over-year basis. As a group, sell-side analysts forecast that Aramark will post 1.92 earnings per share for the current year.

Aramark Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, February 24th. Shareholders of record on Monday, February 10th were given a $0.105 dividend. The ex-dividend date of this dividend was Monday, February 10th. This is an increase from Aramark's previous quarterly dividend of $0.00. This represents a $0.42 annualized dividend and a yield of 1.17%. Aramark's dividend payout ratio (DPR) is currently 33.07%.

Aramark 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.