Illinois Municipal Retirement Fund grew its stake in shares of Aramark (NYSE:ARMK - Free Report) by 73.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 36,596 shares of the company's stock after acquiring an additional 15,485 shares during the period. Illinois Municipal Retirement Fund's holdings in Aramark were worth $1,365,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also modified their holdings of the company. Huntington National Bank boosted its position in Aramark by 100.3% during the third quarter. Huntington National Bank now owns 681 shares of the company's stock worth $26,000 after purchasing an additional 341 shares in the last quarter. Capital Performance Advisors LLP purchased a new stake in shares of Aramark in the 3rd quarter worth about $28,000. UMB Bank n.a. grew its stake in Aramark by 75.2% in the 4th 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 last quarter. Global Retirement Partners LLC raised its position in Aramark by 167.2% during the fourth quarter. Global Retirement Partners LLC now owns 1,424 shares of the company's stock worth $53,000 after acquiring an additional 891 shares during the last quarter. Finally, Assetmark Inc. lifted its holdings in shares of Aramark by 62.7% in the third quarter. Assetmark Inc. now owns 2,154 shares of the company's stock valued at $83,000 after purchasing an additional 830 shares in the last quarter.
Aramark Trading Up 0.4 %
Shares of NYSE ARMK traded up $0.14 during 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 company has a quick ratio of 0.84, a current ratio of 0.94 and a debt-to-equity ratio of 1.61. The firm has a market capitalization of $9.50 billion, a P/E ratio of 28.23 and a beta of 1.64. The company has a 50-day moving average price of $37.68 and a 200-day moving average price of $38.12. Aramark has a 1 year low of $29.82 and a 1 year high of $42.49.
Aramark (NYSE:ARMK - Get Free Report) last announced its quarterly earnings results on Tuesday, February 4th. The company reported $0.51 EPS for the quarter, topping the consensus estimate of $0.48 by $0.03. The company had revenue of $4.55 billion during 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 firm's revenue was up 3.3% on a year-over-year basis. During the same period in the prior year, the firm posted $0.41 earnings per share. On average, equities analysts predict that Aramark will post 1.92 EPS for the current year.
Aramark Increases Dividend
The firm also recently announced a quarterly dividend, which was paid on Monday, February 24th. Stockholders of record on Monday, February 10th were paid a $0.105 dividend. This represents a $0.42 dividend on an annualized basis and a dividend yield of 1.17%. The ex-dividend date of this dividend was Monday, February 10th. This is an increase from Aramark's previous quarterly dividend of $0.00. Aramark's dividend payout ratio (DPR) is currently 33.07%.
Wall Street Analyst Weigh In
ARMK has been the subject of a number of recent research reports. StockNews.com cut shares of Aramark from a "buy" rating to a "hold" rating in a research note on Tuesday, January 7th. JPMorgan Chase & Co. boosted their price target on Aramark from $41.00 to $45.00 and gave the stock an "overweight" rating in a report on Tuesday, November 12th. Morgan Stanley increased their price objective on Aramark from $40.00 to $43.00 and gave the company an "equal weight" rating in a research note on Thursday, December 12th. Truist Financial boosted their target price on shares of Aramark from $42.00 to $46.00 and gave the company a "buy" rating in a research note on Tuesday, November 12th. Finally, Stifel Nicolaus raised their price target on shares of Aramark from $43.00 to $45.00 and gave the stock a "buy" rating in a research note on Tuesday, November 12th. Three investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $43.42.
Read Our Latest Stock 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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