Aramark $ARMK Position Lowered by Price T Rowe Associates Inc. MD

Key Points

• Price T Rowe Associates Inc. MD has reduced its position in Aramark by 17.2%, now holding 3,397,158 shares worth approximately $117 million.
• Aramark's stock has received varying ratings from analysts, with price targets ranging from $44 to $47, and a consensus rating of 'Buy'.
• The company recently reported $4.63 billion in revenue for the quarter, matching analyst estimates, with an earnings per share (EPS) of $0.40.

Price T Rowe Associates Inc. MD reduced its stake in shares of Aramark (NYSE:ARMK - Free Report) by 17.2% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,397,158 shares of the company's stock after selling 707,173 shares during the period. Price T Rowe Associates Inc. MD owned 1.30% of Aramark worth $117,271,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of the stock. Raymond James Financial Inc. raised its position in shares of Aramark by 5.4% during the 1st quarter. Raymond James Financial Inc. now owns 112,443 shares of the company's stock worth $3,882,000 after purchasing an additional 5,793 shares during the last quarter. American Century Companies Inc. raised its position in shares of Aramark by 89.3% during the 1st quarter. American Century Companies Inc. now owns 17,955 shares of the company's stock worth $620,000 after purchasing an additional 8,468 shares during the last quarter. Dimensional Fund Advisors LP raised its position in shares of Aramark by 16.3% during the 1st quarter. Dimensional Fund Advisors LP now owns 5,762,907 shares of the company's stock worth $198,922,000 after purchasing an additional 809,792 shares during the last quarter. Caitong International Asset Management Co. Ltd raised its position in shares of Aramark by 71.0% during the 1st 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. Finally, Westpac Banking Corp raised its position in shares of Aramark by 18.3% during the 1st quarter. Westpac Banking Corp now owns 5,747 shares of the company's stock worth $198,000 after purchasing an additional 888 shares during the last quarter.

Aramark Stock Down 0.7%

Aramark stock traded down $0.29 during trading on Thursday, reaching $39.22. 1,263,043 shares of the company's stock were exchanged, compared to its average volume of 2,038,122. The company's 50-day moving average is $41.61 and its two-hundred day moving average is $38.09. The company has a debt-to-equity ratio of 2.03, a quick ratio of 1.14 and a current ratio of 1.29. Aramark has a 52-week low of $29.92 and a 52-week high of $44.49. The firm has a market cap of $10.31 billion, a price-to-earnings ratio of 29.05 and a beta of 1.33.

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

Aramark Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, August 20th. Stockholders of record on Wednesday, August 6th were paid a dividend of $0.105 per share. The ex-dividend date was Wednesday, August 6th. This represents a $0.42 annualized dividend and a dividend yield of 1.1%. Aramark's dividend payout ratio (DPR) is currently 31.11%.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on ARMK shares. UBS Group set a $46.00 price target on Aramark and gave the company a "buy" rating in a report on Wednesday, August 6th. Wall Street Zen downgraded Aramark from a "buy" rating to a "hold" rating in a report on Saturday, August 9th. Royal Bank Of Canada reiterated an "outperform" rating and issued a $47.00 price target on shares of Aramark in a report on Wednesday, May 14th. Robert W. Baird upgraded Aramark from a "neutral" rating to an "outperform" rating and boosted their price target for the company from $43.00 to $47.00 in a report on Wednesday, August 6th. Finally, Morgan Stanley boosted 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. One investment 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 company's stock. Based on data from MarketBeat, Aramark has an average rating of "Buy" and an average target price of $45.44.

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.