Channing Capital Management LLC Sells 11,570 Shares of Aramark $ARMK

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 lowered its stake in shares of Aramark (NYSE:ARMK - Free Report) by 4.0% during the 1st quarter, according to its most recent Form 13F filing with the Securities and 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 filing with the Securities and Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Sumitomo Mitsui Trust Group Inc. raised its holdings in shares of Aramark by 1.7% during the first quarter. Sumitomo Mitsui Trust Group Inc. now owns 26,504 shares of the company's stock valued at $915,000 after purchasing an additional 438 shares during the period. GAMMA Investing LLC raised its holdings in shares of Aramark by 48.1% during the first quarter. GAMMA Investing LLC now owns 6,364 shares of the company's stock valued at $220,000 after purchasing an additional 2,067 shares during the period. Bessemer Group Inc. raised its holdings in shares of Aramark by 83.2% during the first quarter. Bessemer Group Inc. now owns 1,411 shares of the company's stock valued at $49,000 after purchasing an additional 641 shares during the period. State of Alaska Department of Revenue raised its holdings in shares of Aramark by 3.4% during the first quarter. State of Alaska Department of Revenue now owns 31,055 shares of the company's stock valued at $1,072,000 after purchasing an additional 1,020 shares during the period. Finally, Janney Montgomery Scott LLC increased its position in shares of Aramark by 553.3% during the first quarter. Janney Montgomery Scott LLC now owns 37,791 shares of the company's stock worth $1,305,000 after acquiring an additional 32,006 shares in the last quarter.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. Morgan Stanley upped their price objective on shares of Aramark from $42.00 to $44.00 and gave the stock an "equal weight" rating in a research report on Monday, June 30th. Wall Street Zen downgraded shares of Aramark from a "buy" rating to a "hold" rating in a research report on Saturday, August 9th. Robert W. Baird raised shares of Aramark from a "neutral" rating to an "outperform" rating and upped their price objective for the stock from $43.00 to $47.00 in a research report on Wednesday, August 6th. UBS Group set a $46.00 price objective on shares of Aramark and gave the stock a "buy" rating in a research report on Wednesday, August 6th. Finally, Baird R W raised shares of Aramark from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, August 6th. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Buy" and an average target price of $45.44.

Aramark Stock Performance

Shares of Aramark stock traded up $0.5980 on Friday, reaching $40.0180. 1,355,781 shares of the company traded hands, compared to its average volume of 2,573,492. Aramark has a 52 week low of $29.92 and a 52 week high of $44.49. The company has a 50 day moving average of $41.64 and a 200 day moving average of $38.06. The firm has a market capitalization of $10.52 billion, a PE ratio of 29.64 and a beta of 1.33. The company has a debt-to-equity ratio of 2.03, a current ratio of 1.29 and a quick ratio of 1.14.

Aramark (NYSE:ARMK - Get Free Report) last released its earnings results on Tuesday, August 5th. The company reported $0.40 earnings per share for the quarter, meeting analysts' consensus estimates of $0.40. Aramark had a net margin of 2.02% and a return on equity of 15.67%. The firm had revenue of $4.63 billion during the quarter, compared to the consensus estimate of $4.66 billion. During the same period in the prior year, the firm earned $0.31 EPS. The company's 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. Equities analysts forecast that Aramark will post 1.92 earnings per share for the current year.

Aramark Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, August 20th. Stockholders of record on Wednesday, August 6th were given a dividend of $0.105 per share. This represents a $0.42 dividend on an annualized basis and a dividend yield of 1.0%. Aramark's dividend payout ratio is currently 31.11%.

Aramark 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.