Connor Clark & Lunn Investment Management Ltd. cut its stake in shares of Aramark (NYSE:ARMK - Free Report) by 89.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 13,111 shares of the company's stock after selling 117,085 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.'s holdings in Aramark were worth $489,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Thrivent Financial for Lutherans boosted its holdings in Aramark by 76.7% in the 3rd quarter. Thrivent Financial for Lutherans now owns 113,094 shares of the company's stock valued at $4,380,000 after purchasing an additional 49,093 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of Aramark by 0.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,732,661 shares of the company's stock valued at $67,106,000 after buying an additional 14,839 shares during the period. Raymond James Trust N.A. boosted its stake in shares of Aramark by 83.2% in the third quarter. Raymond James Trust N.A. now owns 13,770 shares of the company's stock valued at $533,000 after buying an additional 6,255 shares in the last quarter. Citigroup Inc. grew its holdings in Aramark by 21.2% during the third quarter. Citigroup Inc. now owns 111,918 shares of the company's stock worth $4,335,000 after acquiring an additional 19,606 shares during the period. Finally, Nicolet Advisory Services LLC purchased a new position in Aramark in the third quarter worth $284,000.
Aramark Price Performance
Shares of NYSE:ARMK traded down $0.08 on Tuesday, hitting $34.08. The company had a trading volume of 2,069,188 shares, compared to its average volume of 2,020,037. The company has a market cap of $9.03 billion, a PE ratio of 26.83 and a beta of 1.60. The business has a 50 day moving average of $37.06 and a 200 day moving average of $38.02. Aramark has a 52-week low of $29.82 and a 52-week high of $42.49. The company has a current ratio of 0.94, a quick ratio of 0.84 and a debt-to-equity ratio of 1.61.
Aramark (NYSE:ARMK - Get Free Report) last released its earnings results on Tuesday, February 4th. The company reported $0.51 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.48 by $0.03. The company had revenue of $4.55 billion for the quarter, compared to analyst estimates of $4.61 billion. Aramark had a net margin of 1.94% and a return on equity of 14.72%. The firm's quarterly revenue was up 3.3% on a year-over-year basis. During the same period in the prior year, the firm earned $0.41 EPS. As a group, equities analysts anticipate that Aramark will post 1.92 earnings per share for the current fiscal year.
Aramark Increases Dividend
The firm also recently declared a quarterly dividend, which was paid on Monday, February 24th. Shareholders of record on Monday, February 10th were issued a $0.105 dividend. The ex-dividend date 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 1.23%. Aramark's payout ratio is 33.07%.
Wall Street Analyst Weigh In
A number of research firms have recently weighed in on ARMK. Robert W. Baird upped their price target on shares of Aramark from $44.00 to $45.00 and gave the stock a "neutral" rating in a research note on Thursday, December 12th. Morgan Stanley upped their target price on shares of Aramark from $40.00 to $43.00 and gave the stock an "equal weight" rating in a research report on Thursday, December 12th. Citigroup initiated coverage on shares of Aramark in a research report on Monday, February 24th. They set a "buy" rating and a $48.00 price target for the company. StockNews.com lowered Aramark from a "buy" rating to a "hold" rating in a research note on Tuesday, January 7th. Finally, Royal Bank of Canada reaffirmed an "outperform" rating and issued a $47.00 price objective on shares of Aramark in a research note on Thursday, February 6th. Three research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $43.42.
Read Our Latest Report on ARMK
About Aramark
(
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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