KLP Kapitalforvaltning AS Makes New Investment in Aramark (NYSE:ARMK)

KLP Kapitalforvaltning AS bought a new position in shares of Aramark (NYSE:ARMK - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund bought 51,900 shares of the company's stock, valued at approximately $1,936,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Jones Financial Companies Lllp grew 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 valued at $37,000 after purchasing an additional 310 shares during the last quarter. UMB Bank n.a. grew its holdings 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 buying an additional 581 shares in the last quarter. Global Retirement Partners LLC increased its position in Aramark by 167.2% during the 4th quarter. Global Retirement Partners LLC now owns 1,424 shares of the company's stock worth $53,000 after buying an additional 891 shares during the period. Wealthfront Advisers LLC bought a new stake in shares of Aramark in the fourth quarter valued at about $83,000. Finally, Quarry LP grew its stake in shares of Aramark by 1,322.0% in the third quarter. Quarry LP now owns 2,972 shares of the company's stock valued at $115,000 after acquiring an additional 2,763 shares in the last quarter.

Aramark Price Performance

NYSE ARMK traded up $0.50 during trading on Tuesday, hitting $35.02. 1,689,597 shares of the company's stock were exchanged, compared to its average volume of 2,091,310. The company has a market cap of $9.28 billion, a PE ratio of 27.57 and a beta of 1.60. 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 has a fifty-two week low of $29.82 and a fifty-two week high of $42.49. The stock's 50 day moving average price is $36.60 and its two-hundred day moving average price is $37.90.

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Aramark (NYSE:ARMK - Get Free Report) last released its quarterly earnings data on Tuesday, February 4th. The company reported $0.51 earnings per share (EPS) for the quarter, topping 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 business had revenue of $4.55 billion during the quarter, compared to analysts' expectations of $4.61 billion. During the same period in the prior year, the company earned $0.41 EPS. The firm's quarterly revenue was up 3.3% compared to the same quarter last year. Research analysts expect that Aramark will post 1.92 EPS for the current year.

Aramark Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, February 24th. Investors of record on Monday, February 10th were given a dividend of $0.105 per share. The ex-dividend date of this dividend was Monday, February 10th. This represents a $0.42 dividend on an annualized basis and a yield of 1.20%. This is a positive change from Aramark's previous quarterly dividend of $0.00. Aramark's payout ratio is currently 33.07%.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the stock. Citigroup began coverage on shares of Aramark in a research note on Monday, February 24th. They issued a "buy" rating and a $48.00 price objective for the company. StockNews.com downgraded shares of Aramark from a "buy" rating to a "hold" rating in a research report on Tuesday, January 7th. Morgan Stanley increased 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. Royal Bank of Canada reaffirmed an "outperform" rating and issued a $47.00 price objective on shares of Aramark in a report on Thursday, February 6th. Finally, Robert W. Baird raised their price target on Aramark from $44.00 to $45.00 and gave the stock a "neutral" rating in a research report on Thursday, December 12th. Three equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $43.42.

About Aramark

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.