Oak Thistle LLC Lowers Holdings in Aramark (NYSE:ARMK)

Oak Thistle LLC lowered its holdings in Aramark (NYSE:ARMK - Free Report) by 27.8% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 18,586 shares of the company's stock after selling 7,140 shares during the period. Oak Thistle LLC's holdings in Aramark were worth $693,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of ARMK. CIBC Asset Management Inc boosted its stake in shares of Aramark by 3.6% in the 3rd quarter. CIBC Asset Management Inc now owns 7,621 shares of the company's stock valued at $295,000 after purchasing an additional 265 shares in the last quarter. Bradley Foster & Sargent Inc. CT increased its holdings in shares of Aramark by 0.4% in the second quarter. Bradley Foster & Sargent Inc. CT now owns 69,987 shares of the company's stock worth $2,381,000 after buying an additional 310 shares during the period. Huntington National Bank grew its holdings in shares of Aramark by 100.3% in the third quarter. Huntington National Bank now owns 681 shares of the company's stock worth $26,000 after purchasing an additional 341 shares during the last quarter. Cadent Capital Advisors LLC grew its holdings in Aramark by 4.7% in the 3rd quarter. Cadent Capital Advisors LLC now owns 7,711 shares of the company's stock worth $299,000 after acquiring an additional 349 shares during the last quarter. Finally, HighTower Advisors LLC increased its holdings in Aramark by 2.5% during the 3rd quarter. HighTower Advisors LLC now owns 16,504 shares of the company's stock valued at $643,000 after purchasing an additional 395 shares during the period.

Aramark Price Performance

ARMK stock traded up $0.06 during midday trading on Thursday, hitting $39.33. The company's stock had a trading volume of 1,863,015 shares, compared to its average volume of 1,857,745. The company has a quick ratio of 0.72, a current ratio of 0.81 and a debt-to-equity ratio of 1.42. Aramark has a 12 month low of $28.30 and a 12 month high of $42.49. The company has a 50 day moving average of $38.82 and a two-hundred day moving average of $37.10. The firm has a market capitalization of $10.42 billion, a price-to-earnings ratio of 39.72 and a beta of 1.64.

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

Aramark Cuts Dividend

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

Wall Street Analyst Weigh In

ARMK has been the subject of a number of research reports. Robert W. Baird increased their price target on shares of Aramark from $44.00 to $45.00 and gave the stock a "neutral" rating in a research note on Thursday, December 12th. Truist Financial raised their price target on shares of Aramark from $42.00 to $46.00 and gave the company a "buy" rating in a research report on Tuesday, November 12th. Morgan Stanley boosted their target price on Aramark from $40.00 to $43.00 and gave the stock an "equal weight" rating in a research report on Thursday, December 12th. JPMorgan Chase & Co. boosted their target price on shares of Aramark from $41.00 to $45.00 and gave the company an "overweight" rating in a research note on Tuesday, November 12th. Finally, Stifel Nicolaus increased their price objective 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 nine have assigned a buy rating to the stock. According to data from MarketBeat.com, Aramark presently has an average rating of "Moderate Buy" and an average target price of $42.59.

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.