Invesco Ltd. Sells 241,286 Shares of Aramark $ARMK

Key Points

• Invesco Ltd. has reduced its stake in Aramark by 20.7% in the first quarter, owning 922,291 shares now valued at approximately $31.84 million.
• Recent research reports show a mixed outlook on Aramark, with ratings ranging from a "strong-buy" by Baird R W to a "hold" by Wall Street Zen, and a consensus target price of $45.44.
• Aramark declared a quarterly dividend of $0.105 per share, reflecting an annual yield of 1.1% and a payout ratio of 31.11%, with payment scheduled for August 20th.

Invesco Ltd. trimmed its holdings in Aramark (NYSE:ARMK - Free Report) by 20.7% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 922,291 shares of the company's stock after selling 241,286 shares during the quarter. Invesco Ltd. owned approximately 0.35% of Aramark worth $31,837,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Massachusetts Financial Services Co. MA boosted its position in shares of Aramark by 29.5% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 17,605,896 shares of the company's stock valued at $607,756,000 after acquiring an additional 4,012,162 shares during the last quarter. Janus Henderson Group PLC boosted its position in shares of Aramark by 3.5% during the 4th quarter. Janus Henderson Group PLC now owns 16,268,682 shares of the company's stock valued at $606,986,000 after acquiring an additional 554,239 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Aramark by 0.4% during the 4th quarter. Dimensional Fund Advisors LP now owns 4,953,115 shares of the company's stock valued at $184,802,000 after acquiring an additional 19,205 shares during the last quarter. PointState Capital LP boosted its position in shares of Aramark by 135.4% during the 4th quarter. PointState Capital LP now owns 2,690,617 shares of the company's stock valued at $100,387,000 after acquiring an additional 1,547,792 shares during the last quarter. Finally, Bank of America Corp DE boosted its position in shares of Aramark by 4.5% during the 4th quarter. Bank of America Corp DE now owns 2,457,094 shares of the company's stock valued at $91,674,000 after acquiring an additional 105,219 shares during the last quarter.

Aramark Trading Down 1.4%

ARMK stock traded down $0.57 during midday trading on Monday, reaching $39.48. The company's stock had a trading volume of 1,332,422 shares, compared to its average volume of 2,583,971. The company has a debt-to-equity ratio of 2.03, a quick ratio of 1.14 and a current ratio of 1.29. The stock has a fifty day simple moving average of $41.62 and a two-hundred day simple moving average of $38.07. Aramark has a 1 year low of $29.92 and a 1 year high of $44.49. The firm has a market capitalization of $10.38 billion, a price-to-earnings ratio of 29.24 and a beta of 1.33.

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, hitting analysts' consensus estimates of $0.40. Aramark had a return on equity of 15.67% and a net margin of 2.02%.The business had revenue of $4.63 billion for the quarter, compared to analyst estimates of $4.66 billion. During the same quarter last year, the firm posted $0.31 earnings per share. The business'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. On average, equities research analysts predict that Aramark will post 1.92 EPS for the current year.

Aramark Announces Dividend

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

Wall Street Analysts Forecast Growth

ARMK has been the subject of a number of research reports. Baird R W upgraded Aramark from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, August 6th. Morgan Stanley increased their price target on Aramark from $42.00 to $44.00 and gave the company an "equal weight" rating in a report on Monday, June 30th. Robert W. Baird upgraded Aramark from a "neutral" rating to an "outperform" rating and increased their price target for the company from $43.00 to $47.00 in a report on Wednesday, August 6th. UBS Group set a $46.00 price target on Aramark and gave the company a "buy" rating in a report on Wednesday, August 6th. Finally, Royal Bank Of Canada restated an "outperform" rating and set a $47.00 price target on shares of Aramark in a report on Wednesday, May 14th. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Buy" and an average target price of $45.44.

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.