Neuberger Berman Group LLC Sells 253,147 Shares of Aramark (NYSE: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 decreased its holdings in shares of Aramark (NYSE:ARMK - Free Report) by 12.3% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,808,974 shares of the company's stock after selling 253,147 shares during the quarter. Neuberger Berman Group LLC owned approximately 0.69% of Aramark worth $62,446,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Caitong International Asset Management Co. Ltd lifted its holdings in shares of Aramark by 71.0% during the first quarter. Caitong International Asset Management Co. Ltd now owns 2,534 shares of the company's stock worth $87,000 after buying an additional 1,052 shares in the last quarter. Westpac Banking Corp lifted its holdings in shares of Aramark by 18.3% during the first quarter. Westpac Banking Corp now owns 5,747 shares of the company's stock worth $198,000 after buying an additional 888 shares in the last quarter. Nuveen LLC acquired a new stake in shares of Aramark during the first quarter worth $37,476,000. Entropy Technologies LP acquired a new stake in shares of Aramark during the first quarter worth $409,000. Finally, Connor Clark & Lunn Investment Management Ltd. lifted its holdings in shares of Aramark by 7.1% during the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 14,036 shares of the company's stock worth $485,000 after buying an additional 925 shares in the last quarter.

Aramark Trading Down 0.2%

NYSE:ARMK traded down $0.07 during mid-day trading on Friday, hitting $39.59. 1,427,999 shares of the company's stock were exchanged, compared to its average volume of 2,277,769. Aramark has a fifty-two week low of $29.92 and a fifty-two week high of $44.49. The company has a current ratio of 1.29, a quick ratio of 1.14 and a debt-to-equity ratio of 2.03. The firm has a market capitalization of $10.41 billion, a P/E ratio of 29.33 and a beta of 1.33. The company has a 50 day simple moving average of $41.66 and a 200-day simple moving average of $38.01.

Aramark (NYSE:ARMK - Get Free Report) last announced its earnings results on Tuesday, August 5th. The company reported $0.40 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.40. The business had revenue of $4.63 billion during 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%. Aramark's revenue for the quarter was up 5.7% compared to the same quarter last year. During the same period last year, the company earned $0.31 EPS. As a group, research analysts expect that Aramark will post 1.92 earnings per share for the current year.

Aramark Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, August 20th. Shareholders of record on Wednesday, August 6th will be issued a dividend of $0.105 per share. This represents a $0.42 annualized dividend and a yield of 1.1%. Aramark's payout ratio is 31.11%.

Analyst Ratings Changes

A number of research firms have recently weighed in on ARMK. Morgan Stanley lifted 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. UBS Group set a $46.00 price target on Aramark and gave the stock a "buy" rating in a research report on Wednesday, August 6th. Robert W. Baird upgraded Aramark from a "neutral" rating to an "outperform" rating and raised their price target for the stock from $43.00 to $47.00 in a research report on Wednesday, August 6th. Wall Street Zen cut Aramark from a "buy" rating to a "hold" rating in a research report on Saturday, August 9th. Finally, Royal Bank Of Canada restated an "outperform" rating and issued a $47.00 price target on shares of Aramark in a research report on Wednesday, May 14th. Two equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $45.44.

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.