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

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Harbour Investments Inc. lifted its position in Aramark by 40,750.0% during the 1st quarter. Harbour Investments Inc. now owns 817 shares of the company's stock worth $28,000 after acquiring an additional 815 shares during the period. Bessemer Group Inc. lifted its position in Aramark by 83.2% during the 1st quarter. Bessemer Group Inc. now owns 1,411 shares of the company's stock worth $49,000 after acquiring an additional 641 shares during the period. Lazard Asset Management LLC acquired a new stake in Aramark during the 4th quarter worth about $72,000. UMB Bank n.a. lifted its position in Aramark by 82.6% during the 1st quarter. UMB Bank n.a. now owns 2,472 shares of the company's stock worth $85,000 after acquiring an additional 1,118 shares during the period. Finally, Fifth Third Bancorp lifted its position in Aramark by 21.1% during the 1st quarter. Fifth Third Bancorp now owns 2,859 shares of the company's stock worth $99,000 after acquiring an additional 499 shares during the period.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on ARMK. Wall Street Zen lowered Aramark from a "buy" rating to a "hold" rating in a research note on Saturday, August 9th. Royal Bank Of Canada reiterated an "outperform" rating and set a $47.00 price objective on shares of Aramark in a research note on Wednesday, May 14th. UBS Group set a $46.00 price objective on Aramark and gave the stock a "buy" rating in a research note on Wednesday, August 6th. Baird R W upgraded Aramark from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, August 6th. Finally, Robert W. Baird upgraded Aramark from a "neutral" rating to an "outperform" rating and upped their price objective for the company from $43.00 to $47.00 in a report on Wednesday, August 6th. One equities 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 company's stock. Based on data from MarketBeat.com, Aramark presently has a consensus rating of "Buy" and a consensus price target of $45.44.

Aramark Trading Up 1.5%

NYSE:ARMK traded up $0.5980 during trading hours on Friday, reaching $40.0180. 1,355,781 shares of the stock were exchanged, compared to its average volume of 2,573,492. The company has a quick ratio of 1.14, a current ratio of 1.29 and a debt-to-equity ratio of 2.03. The business has a 50-day moving average of $41.64 and a two-hundred day moving average of $38.06. Aramark has a twelve month low of $29.92 and a twelve month high of $44.49. The company has a market capitalization of $10.52 billion, a price-to-earnings ratio of 29.64 and a beta of 1.33.

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

Aramark Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, August 20th. Stockholders of record on Wednesday, August 6th were paid a $0.105 dividend. This represents a $0.42 annualized dividend and a dividend yield of 1.0%. Aramark's 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.