Aramark (NYSE:ARMK) Shares Sold by Souders Financial Advisors

Souders Financial Advisors lowered its position in shares of Aramark (NYSE:ARMK - Free Report) by 31.3% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 71,818 shares of the company's stock after selling 32,754 shares during the period. Souders Financial Advisors' holdings in Aramark were worth $2,680,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Janus Henderson Group PLC increased its holdings in shares of Aramark by 6.0% during the 3rd quarter. Janus Henderson Group PLC now owns 15,714,443 shares of the company's stock worth $608,619,000 after buying an additional 896,288 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its position in shares of Aramark by 70.0% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 8,329,917 shares of the company's stock worth $322,618,000 after purchasing an additional 3,430,131 shares during the period. Franklin Resources Inc. boosted its position in shares of Aramark by 7.2% during the 3rd quarter. Franklin Resources Inc. now owns 6,570,938 shares of the company's stock worth $254,427,000 after purchasing an additional 441,711 shares during the period. Geode Capital Management LLC boosted its position in shares of Aramark by 1.1% during the 3rd quarter. Geode Capital Management LLC now owns 4,363,113 shares of the company's stock worth $169,028,000 after purchasing an additional 45,384 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its position in shares of Aramark by 0.8% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,746,871 shares of the company's stock worth $65,176,000 after purchasing an additional 14,210 shares during the period.

Remove Ads

Aramark Stock Up 1.2 %

Shares of Aramark stock traded up $0.41 during trading on Friday, hitting $35.95. 1,478,587 shares of the stock were exchanged, compared to its average volume of 2,043,757. The firm's 50-day moving average price is $37.61 and its 200 day moving average price is $38.10. Aramark has a 12-month low of $29.82 and a 12-month high of $42.49. 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 stock has a market cap of $9.53 billion, a price-to-earnings ratio of 28.31 and a beta of 1.60.

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. Aramark had a net margin of 1.94% and a return on equity of 14.72%. The firm had revenue of $4.55 billion for the quarter, compared to analyst estimates of $4.61 billion. During the same period last year, the business earned $0.41 EPS. Aramark's revenue for the quarter was up 3.3% compared to the same quarter last year. As a group, analysts forecast that Aramark will post 1.92 earnings per share for the current fiscal year.

Aramark Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, February 24th. Investors of record on Monday, February 10th were paid a dividend of $0.105 per share. This is a positive change from Aramark's previous quarterly dividend of $0.00. This represents a $0.42 annualized dividend and a yield of 1.17%. The ex-dividend date of this dividend was Monday, February 10th. Aramark's dividend payout ratio (DPR) is currently 33.07%.

Analysts Set New Price Targets

A number of research firms recently weighed in on ARMK. StockNews.com cut shares of Aramark from a "buy" rating to a "hold" rating in a research report on Tuesday, January 7th. Citigroup began coverage on shares of Aramark in a research report on Monday, February 24th. They set a "buy" rating and a $48.00 price objective for the company. Truist Financial increased their price objective on shares of Aramark from $42.00 to $46.00 and gave the stock a "buy" rating in a research report on Tuesday, November 12th. Morgan Stanley raised their price target on shares of Aramark from $40.00 to $43.00 and gave the company an "equal weight" rating in a research report on Thursday, December 12th. Finally, Robert W. Baird raised their price target on shares of Aramark from $44.00 to $45.00 and gave the company a "neutral" rating in a research report on Thursday, December 12th. Three research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat, Aramark presently has an average rating of "Moderate Buy" and a consensus 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.