Bank of Montreal Can trimmed its position in Aramark (NYSE:ARMK - Free Report) by 61.6% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 46,560 shares of the company's stock after selling 74,642 shares during the quarter. Bank of Montreal Can's holdings in Aramark were worth $1,737,000 at the end of the most recent quarter.
A number of other institutional investors have also modified their holdings of the company. Jones Financial Companies Lllp increased its position in shares of Aramark by 45.7% in the fourth quarter. Jones Financial Companies Lllp now owns 988 shares of the company's stock worth $37,000 after acquiring an additional 310 shares in the last quarter. UMB Bank n.a. grew its position in 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 in the last quarter. Global Retirement Partners LLC raised its stake in shares of Aramark by 167.2% during the fourth quarter. Global Retirement Partners LLC now owns 1,424 shares of the company's stock valued at $53,000 after purchasing an additional 891 shares during the period. Wealthfront Advisers LLC purchased a new position in shares of Aramark in the fourth quarter valued at $83,000. Finally, GAMMA Investing LLC grew its holdings in Aramark by 29.9% during the 4th quarter. GAMMA Investing LLC now owns 4,297 shares of the company's stock valued at $160,000 after purchasing an additional 990 shares in the last quarter.
Aramark Stock Performance
NYSE ARMK traded up $0.20 during midday trading on Friday, hitting $32.18. The company had a trading volume of 958,272 shares, compared to its average volume of 2,085,671. The firm has a fifty day simple moving average of $34.80 and a two-hundred day simple moving average of $37.32. The stock has a market cap of $8.53 billion, a price-to-earnings ratio of 25.33 and a beta of 1.37. The company has a quick ratio of 0.84, a current ratio of 0.94 and a debt-to-equity ratio of 1.61. Aramark has a fifty-two week low of $29.82 and a fifty-two week high of $42.49.
Aramark (NYSE:ARMK - Get Free Report) last issued its quarterly earnings results on Tuesday, February 4th. The company reported $0.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.48 by $0.03. The firm had revenue of $4.55 billion for the quarter, compared to analyst estimates of $4.61 billion. Aramark had a return on equity of 14.72% and a net margin of 1.94%. The company's quarterly revenue was up 3.3% compared to the same quarter last year. During the same period in the previous year, the company posted $0.41 earnings per share. Equities analysts forecast that Aramark will post 1.92 earnings per share for the current fiscal year.
Aramark Increases Dividend
The business also recently disclosed a quarterly dividend, which was paid on Monday, February 24th. Stockholders of record on Monday, February 10th were paid a $0.105 dividend. This is a positive change from Aramark's previous quarterly dividend of $0.00. This represents a $0.42 annualized dividend and a dividend yield of 1.31%. The ex-dividend date of this dividend was Monday, February 10th. Aramark's dividend payout ratio is currently 33.07%.
Analyst Ratings Changes
A number of equities analysts have weighed in on ARMK shares. StockNews.com cut shares of Aramark from a "buy" rating to a "hold" rating in a research report on Tuesday, January 7th. Citigroup started coverage on Aramark in a report on Monday, February 24th. They set a "buy" rating and a $48.00 price objective on the stock. 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. Finally, UBS Group cut their target price on shares of Aramark from $45.00 to $40.00 and set a "buy" rating on the stock in a research note on Friday, April 11th. Three investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat, Aramark presently has an average rating of "Moderate Buy" and a consensus price target of $43.08.
Read Our Latest Research Report on Aramark
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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