Northern Trust Corp Sells 38,745 Shares of Aramark $ARMK

Key Points

• Northern Trust Corp has reduced its stake in Aramark (NYSE:ARMK) by 1.8%, now owning 2,148,012 shares valued at approximately $74.15 million.
• Several institutional investors, including Raymond James and Dimensional Fund Advisors, have increased their positions in Aramark during the same quarter.
• Analysts have mixed ratings on Aramark, with target prices ranging from $44.00 to $47.00, indicating a generally positive outlook on the stock's performance.

Northern Trust Corp cut its holdings in Aramark (NYSE:ARMK - Free Report) by 1.8% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,148,012 shares of the company's stock after selling 38,745 shares during the period. Northern Trust Corp owned approximately 0.82% of Aramark worth $74,149,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Harbour Investments Inc. lifted its stake in Aramark by 40,750.0% in the first 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 stake in Aramark by 83.2% in the first quarter. Bessemer Group Inc. now owns 1,411 shares of the company's stock worth $49,000 after purchasing an additional 641 shares during the last quarter. Lazard Asset Management LLC bought a new stake in Aramark in the fourth quarter worth $72,000. UMB Bank n.a. lifted its stake in Aramark by 82.6% in the first quarter. UMB Bank n.a. now owns 2,472 shares of the company's stock worth $85,000 after purchasing an additional 1,118 shares during the last quarter. Finally, Caitong International Asset Management Co. Ltd lifted its stake in Aramark by 71.0% in the first quarter. Caitong International Asset Management Co. Ltd now owns 2,534 shares of the company's stock worth $87,000 after purchasing an additional 1,052 shares during the last quarter.

Analysts Set New Price Targets

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

Aramark Stock Down 0.7%

ARMK traded down $0.29 during midday trading on Thursday, reaching $39.22. The company's stock had a trading volume of 1,263,043 shares, compared to its average volume of 2,568,303. The firm has a market capitalization of $10.31 billion, a price-to-earnings ratio of 29.05 and a beta of 1.33. 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 has a 1 year low of $29.92 and a 1 year high of $44.49. The stock's 50-day moving average is $41.59 and its 200-day moving average is $38.10.

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

Aramark Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, August 20th. Investors of record on Wednesday, August 6th were given a $0.105 dividend. The ex-dividend date of this dividend was Wednesday, August 6th. This represents a $0.42 annualized dividend and a yield of 1.1%. Aramark's dividend payout ratio is 31.11%.

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.