Aramark $ARMK Shares Sold by Channing Capital Management LLC

Key Points

• Channing Capital Management LLC reduced its stake in Aramark by 4.0%, selling 11,570 shares and now holding 280,356 shares valued at approximately $9.68 million.
• Aramark's stock has received mixed ratings from analysts; while Baird R W upgraded it to "strong-buy," Wall Street Zen downgraded it to "hold," resulting in a consensus rating of "Buy" with a target price of $45.44.
• Aramark recently announced a quarterly dividend of $0.105, reflecting an annualized dividend yield of 1.0% and a payout ratio of 31.11%.

Channing Capital Management LLC decreased its stake in Aramark (NYSE:ARMK - Free Report) by 4.0% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 280,356 shares of the company's stock after selling 11,570 shares during the period. Channing Capital Management LLC owned approximately 0.11% of Aramark worth $9,678,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Raymond James Financial Inc. acquired a new position in Aramark during the fourth quarter worth about $3,979,000. Mariner LLC raised its position in Aramark by 3.0% during the fourth quarter. Mariner LLC now owns 15,029 shares of the company's stock worth $561,000 after acquiring an additional 444 shares during the last quarter. Dimensional Fund Advisors LP raised its position in Aramark by 0.4% during the fourth quarter. Dimensional Fund Advisors LP now owns 4,953,115 shares of the company's stock worth $184,802,000 after acquiring an additional 19,205 shares during the last quarter. MetLife Investment Management LLC raised its position in Aramark by 9.1% during the fourth quarter. MetLife Investment Management LLC now owns 148,480 shares of the company's stock worth $5,540,000 after acquiring an additional 12,345 shares during the last quarter. Finally, Tower Research Capital LLC TRC raised its position in Aramark by 125.0% during the fourth quarter. Tower Research Capital LLC TRC now owns 14,746 shares of the company's stock worth $550,000 after acquiring an additional 8,191 shares during the last quarter.

Wall Street Analysts Forecast Growth

ARMK has been the subject of a number of research reports. Robert W. Baird upgraded shares of Aramark from a "neutral" rating to an "outperform" rating and lifted their target price for the stock from $43.00 to $47.00 in a research report on Wednesday, August 6th. Wall Street Zen downgraded shares of Aramark from a "buy" rating to a "hold" rating in a research note on Saturday, August 9th. Royal Bank Of Canada reissued an "outperform" rating and set a $47.00 price objective on shares of Aramark in a research note on Wednesday, May 14th. Morgan Stanley upped their price objective on shares of Aramark from $42.00 to $44.00 and gave the company an "equal weight" rating in a research note on Monday, June 30th. Finally, Baird R W raised shares of Aramark from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, August 6th. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Buy" and an average price target of $45.44.

Aramark Trading Down 0.1%

ARMK stock traded down $0.02 on Tuesday, hitting $39.45. 214,838 shares of the company were exchanged, compared to its average volume of 2,040,846. Aramark has a twelve month low of $29.92 and a twelve month high of $44.49. The company has a debt-to-equity ratio of 2.03, a current ratio of 1.29 and a quick ratio of 1.14. The business's fifty day moving average is $41.62 and its two-hundred day moving average is $38.07. The stock has a market capitalization of $10.37 billion, a price-to-earnings ratio of 29.23 and a beta of 1.33.

Aramark (NYSE:ARMK - Get Free Report) last released its quarterly earnings data on Tuesday, August 5th. The company reported $0.40 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.40. Aramark had a net margin of 2.02% and a return on equity of 15.67%. The company had revenue of $4.63 billion during the quarter, compared to analyst estimates of $4.66 billion. During the same quarter in the prior year, the business earned $0.31 earnings per share. The business's quarterly revenue was up 5.7% compared to the same quarter last year. Aramark has set its FY 2025 guidance at 1.910-1.980 EPS. As a group, research analysts forecast that Aramark will post 1.92 earnings per share for the current year.

Aramark Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, August 20th. Stockholders of record on Wednesday, August 6th were given a $0.105 dividend. This represents a $0.42 annualized dividend and a dividend yield of 1.1%. Aramark's payout ratio is currently 31.11%.

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.