Nordea Investment Management AB Has $11.41 Million Stake in Aramark (NYSE:ARMK)

Nordea Investment Management AB decreased its position in shares of Aramark (NYSE:ARMK - Free Report) by 13.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 304,323 shares of the company's stock after selling 48,140 shares during the quarter. Nordea Investment Management AB owned about 0.11% of Aramark worth $11,406,000 as of its most recent filing with the SEC.

Other large investors have also modified their holdings of the company. Y Intercept Hong Kong Ltd acquired a new position in shares of Aramark during the third quarter valued at $716,000. Franklin Resources Inc. increased its stake in Aramark by 7.2% during the 3rd quarter. Franklin Resources Inc. now owns 6,570,938 shares of the company's stock valued at $254,427,000 after buying an additional 441,711 shares during the period. Geode Capital Management LLC raised its position in shares of Aramark by 1.1% during the 3rd quarter. Geode Capital Management LLC now owns 4,363,113 shares of the company's stock worth $169,028,000 after buying an additional 45,384 shares in the last quarter. Blue Trust Inc. boosted its holdings in shares of Aramark by 173.9% in the third quarter. Blue Trust Inc. now owns 5,697 shares of the company's stock valued at $221,000 after acquiring an additional 3,617 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its stake in shares of Aramark by 0.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,732,661 shares of the company's stock valued at $67,106,000 after acquiring an additional 14,839 shares during the period.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the stock. Royal Bank of Canada raised shares of Aramark from a "sector perform" rating to an "outperform" rating and lifted their price objective for the stock from $36.00 to $42.50 in a research note on Tuesday, September 17th. The Goldman Sachs Group upped their price target on Aramark from $38.00 to $41.00 and gave the company a "buy" rating in a report on Wednesday, October 16th. Truist Financial increased their price objective on Aramark from $42.00 to $46.00 and gave the company a "buy" rating in a research report on Tuesday, November 12th. Stifel Nicolaus lifted 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, Morgan Stanley upped their target price on Aramark from $40.00 to $43.00 and gave the company an "equal weight" rating in a report on Thursday, December 12th. Three equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $42.59.

Aramark Stock Performance

ARMK traded up $0.56 during midday trading on Thursday, reaching $36.83. The company's stock had a trading volume of 1,646,595 shares, compared to its average volume of 1,480,699. Aramark has a twelve month low of $28.30 and a twelve month high of $42.49. The stock has a market cap of $9.76 billion, a P/E ratio of 37.20 and a beta of 1.64. The company has a fifty day simple moving average of $38.88 and a 200 day simple moving average of $36.96. The company has a current ratio of 0.81, a quick ratio of 0.72 and a debt-to-equity ratio of 1.42.

Aramark (NYSE:ARMK - Get Free Report) last posted its quarterly earnings data on Monday, November 11th. The company reported $0.54 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.54. The company had revenue of $4.42 billion for the quarter, compared to the consensus estimate of $4.46 billion. Aramark had a net margin of 1.51% and a return on equity of 14.06%. The business's revenue was up 5.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.64 EPS. Research analysts expect that Aramark will post 1.92 earnings per share for the current year.

Aramark Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, December 12th. Stockholders of record on Monday, December 2nd were paid a $0.001 dividend. The ex-dividend date was Monday, December 2nd. This represents a $0.00 annualized dividend and a dividend yield of 0.01%. Aramark's dividend payout ratio is currently 42.42%.

Aramark Company 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.