Neuberger Berman Group LLC Sells 253,147 Shares of Aramark $ARMK

Key Points

• Neuberger Berman Group LLC reduced its stake in Aramark by 12.3% in Q1, selling 253,147 shares and holding now 1,808,974 shares worth approximately $62.4 million.
• Several investors increased their shares in Aramark during Q1, with Caitong International Asset Management raising its position by 71.0%.
• Aramark recently announced a quarterly dividend of $0.105, reflecting a 1.0% dividend yield, with a payout ratio of 31.11%.

Neuberger Berman Group LLC lessened its holdings in shares of Aramark (NYSE:ARMK - Free Report) by 12.3% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 1,808,974 shares of the company's stock after selling 253,147 shares during the period. Neuberger Berman Group LLC owned approximately 0.69% of Aramark worth $62,446,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in ARMK. Harbour Investments Inc. lifted its position in shares of 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 purchasing an additional 815 shares during the last quarter. Bessemer Group Inc. lifted its position in shares of Aramark by 93.0% during the 4th quarter. Bessemer Group Inc. now owns 770 shares of the company's stock worth $29,000 after purchasing an additional 371 shares during the last quarter. Lazard Asset Management LLC acquired a new position in Aramark in the 4th quarter valued at approximately $72,000. UMB Bank n.a. raised its holdings in Aramark by 82.6% in the 1st quarter. UMB Bank n.a. now owns 2,472 shares of the company's stock valued at $85,000 after acquiring an additional 1,118 shares in the last quarter. Finally, Caitong International Asset Management Co. Ltd raised its holdings in Aramark by 71.0% in the 1st quarter. Caitong International Asset Management Co. Ltd now owns 2,534 shares of the company's stock valued at $87,000 after acquiring an additional 1,052 shares in the last quarter.

Analyst Upgrades and Downgrades

Several research firms have commented on ARMK. Baird R W raised Aramark from a "hold" rating to a "strong-buy" rating in a report on Wednesday, August 6th. UBS Group set a $46.00 target price on Aramark and gave the stock a "buy" rating in a report on Wednesday, August 6th. Wall Street Zen cut Aramark from a "buy" rating to a "hold" rating in a report on Saturday, August 9th. Morgan Stanley increased their target price on Aramark from $42.00 to $44.00 and gave the stock an "equal weight" rating in a report on Monday, June 30th. Finally, Robert W. Baird raised Aramark from a "neutral" rating to an "outperform" rating and increased their target price for the stock from $43.00 to $47.00 in a report on Wednesday, August 6th. Two analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $45.44.

Aramark Price Performance

NYSE ARMK traded down $0.29 during trading hours on Monday, reaching $39.35. 2,518,264 shares of the company's stock were exchanged, compared to its average volume of 2,041,381. The stock has a market cap of $10.34 billion, a PE ratio of 29.14 and a beta of 1.33. Aramark has a one year low of $29.92 and a one year high of $44.49. The firm has a fifty day moving average of $41.66 and a 200-day moving average of $38.01. The company has a current ratio of 1.29, a quick ratio of 1.14 and a debt-to-equity ratio of 2.03.

Aramark (NYSE:ARMK - Get Free Report) last announced its quarterly earnings data on Tuesday, August 5th. The company reported $0.40 EPS for the quarter, meeting analysts' consensus estimates of $0.40. The firm had revenue of $4.63 billion for the quarter, compared to analyst estimates of $4.66 billion. Aramark had a return on equity of 15.67% and a net margin of 2.02%. The business's quarterly revenue was up 5.7% compared to the same quarter last year. During the same period last year, the company earned $0.31 EPS. On average, equities research analysts predict that Aramark will post 1.92 earnings per share for the current fiscal year.

Aramark Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 20th. Shareholders of record on Wednesday, August 6th will be given 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%.

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.