Aramark (NYSE:ARMK) Stake Boosted by Amalgamated Bank

Amalgamated Bank raised its holdings in shares of Aramark (NYSE:ARMK) by 0.4% in the 4th quarter, Holdings Channel reports. The firm owned 126,029 shares of the company’s stock after purchasing an additional 447 shares during the quarter. Amalgamated Bank’s holdings in Aramark were worth $4,702,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently added to or reduced their stakes in ARMK. Huntington National Bank boosted its holdings in shares of Aramark by 100.3% in the 3rd quarter. Huntington National Bank now owns 681 shares of the company’s stock valued at $26,000 after buying an additional 341 shares during the period. Capital Performance Advisors LLP acquired a new stake in Aramark during the third quarter worth about $28,000. UMB Bank n.a. lifted its holdings in Aramark by 75.2% in the fourth quarter. UMB Bank n.a. now owns 1,354 shares of the company’s stock worth $51,000 after acquiring an additional 581 shares during the last quarter. Global Retirement Partners LLC boosted its stake in Aramark by 167.2% in the fourth quarter. Global Retirement Partners LLC now owns 1,424 shares of the company’s stock valued at $53,000 after acquiring an additional 891 shares during the period. Finally, Assetmark Inc. grew its holdings in shares of Aramark by 62.7% during 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 during the last quarter.

Aramark Trading Down 0.7 %

Shares of NYSE:ARMK opened at $36.47 on Friday. The company has a 50 day moving average of $37.82 and a 200-day moving average of $38.09. The company has a current ratio of 0.94, a quick ratio of 0.84 and a debt-to-equity ratio of 1.61. The firm has a market cap of $9.67 billion, a P/E ratio of 28.72 and a beta of 1.64. Aramark has a twelve month low of $29.82 and a twelve month high of $42.49.

Aramark (NYSE:ARMK) last released its earnings results on Tuesday, February 4th. The company reported $0.51 earnings per share for the quarter, topping analysts’ consensus estimates of $0.48 by $0.03. Aramark had a return on equity of 14.72% and a net margin of 1.94%. The firm had revenue of $4.55 billion during the quarter, compared to the consensus estimate of $4.61 billion. During the same period in the prior year, the firm posted $0.41 earnings per share. The firm’s revenue for the quarter was up 3.3% compared to the same quarter last year. As a group, analysts anticipate that Aramark will post 1.92 earnings per share for the current fiscal year.

Aramark Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, February 24th. Investors of record on Monday, February 10th were issued 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 dividend on an annualized basis and a yield of 1.15%. The ex-dividend date of this dividend was Monday, February 10th. Aramark’s payout ratio is presently 33.07%.

Analysts Set New Price Targets

ARMK has been the topic of several recent research reports. Royal Bank of Canada reissued an “outperform” rating and issued a $47.00 price target on shares of Aramark in a report on Thursday, February 6th. Stifel Nicolaus raised their target price on Aramark from $43.00 to $45.00 and gave the company a “buy” rating in a research note on Tuesday, November 12th. StockNews.com lowered 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. They issued a “buy” rating and a $48.00 price objective on the stock. Finally, Truist Financial upped their target price 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. Three equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on 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.