Corebridge Financial Inc. Sells 13,438 Shares of Aramark (NYSE:ARMK)

Corebridge Financial Inc. decreased its holdings in shares of Aramark (NYSE:ARMK - Free Report) by 4.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 298,089 shares of the company's stock after selling 13,438 shares during the period. Corebridge Financial Inc. owned about 0.11% of Aramark worth $11,122,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of ARMK. Oregon Public Employees Retirement Fund boosted its position in Aramark by 0.5% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 53,654 shares of the company's stock valued at $2,002,000 after purchasing an additional 276 shares during the period. Jones Financial Companies Lllp lifted its stake in Aramark by 45.7% in the fourth quarter. Jones Financial Companies Lllp now owns 988 shares of the company's stock valued at $37,000 after buying an additional 310 shares during the last quarter. CIBC Asset Management Inc boosted its holdings in shares of Aramark by 5.1% during the fourth quarter. CIBC Asset Management Inc now owns 8,012 shares of the company's stock valued at $299,000 after acquiring an additional 391 shares during the period. HighTower Advisors LLC grew its position in shares of Aramark by 2.5% during the third quarter. HighTower Advisors LLC now owns 16,504 shares of the company's stock worth $643,000 after acquiring an additional 395 shares during the last quarter. Finally, Amalgamated Bank increased its holdings in shares of Aramark by 0.4% in the 4th quarter. Amalgamated Bank now owns 126,029 shares of the company's stock worth $4,702,000 after acquiring an additional 447 shares during the period.

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Analyst Upgrades and Downgrades

ARMK has been the subject of a number of analyst reports. Royal Bank of Canada reissued an "outperform" rating and set a $47.00 target price on shares of Aramark in a research note on Thursday, February 6th. Citigroup assumed coverage on Aramark in a research report on Monday, February 24th. They set a "buy" rating and a $48.00 price objective for the company. Robert W. Baird raised their target price on Aramark from $44.00 to $45.00 and gave the company a "neutral" rating in a research report on Thursday, December 12th. Morgan Stanley boosted their price target on Aramark from $40.00 to $43.00 and gave the stock an "equal weight" rating in a research report on Thursday, December 12th. Finally, StockNews.com lowered Aramark from a "buy" rating to a "hold" rating in a report on Tuesday, January 7th. Three research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $43.42.

Aramark Price Performance

Shares of ARMK traded up $0.36 during trading hours on Monday, hitting $34.56. 2,240,097 shares of the company were exchanged, compared to its average volume of 2,095,620. The company has a debt-to-equity ratio of 1.61, a current ratio of 0.94 and a quick ratio of 0.84. The company has a market capitalization of $9.16 billion, a PE ratio of 27.21 and a beta of 1.60. The firm has a fifty day simple moving average of $36.67 and a 200-day simple moving average of $37.92. Aramark has a one year low of $29.82 and a one year high of $42.49.

Aramark (NYSE:ARMK - Get Free Report) last issued 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. Aramark had a net margin of 1.94% and a return on equity of 14.72%. The company had revenue of $4.55 billion during the quarter, compared to analyst estimates of $4.61 billion. During the same quarter last year, the business posted $0.41 EPS. The company's revenue for the quarter was up 3.3% on a year-over-year basis. As a group, sell-side analysts predict that Aramark will post 1.92 earnings per share for the current year.

Aramark Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, February 24th. Stockholders of record on Monday, February 10th were paid a dividend of $0.105 per share. 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 dividend on an annualized basis and a dividend yield of 1.22%. Aramark's dividend payout ratio (DPR) is 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.