Price T Rowe Associates Inc. MD Sells 707,173 Shares of Aramark $ARMK

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 trimmed its holdings in shares of Aramark (NYSE:ARMK - Free Report) by 17.2% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor 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 approximately 1.30% of Aramark worth $117,271,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of ARMK. Massachusetts Financial Services Co. MA raised its holdings in shares of Aramark by 29.5% during the first quarter. Massachusetts Financial Services Co. MA now owns 17,605,896 shares of the company's stock valued at $607,756,000 after purchasing an additional 4,012,162 shares during the period. PointState Capital LP boosted its holdings in Aramark by 135.4% in the fourth quarter. PointState Capital LP now owns 2,690,617 shares of the company's stock worth $100,387,000 after acquiring an additional 1,547,792 shares in the last quarter. Nuveen LLC bought a new stake in shares of Aramark during the first quarter valued at approximately $37,476,000. Egerton Capital UK LLP raised its position in shares of Aramark by 79.0% during the first quarter. Egerton Capital UK LLP now owns 2,075,126 shares of the company's stock worth $71,633,000 after purchasing an additional 916,054 shares during the period. Finally, Dimensional Fund Advisors LP lifted its stake in shares of Aramark by 16.3% in the first quarter. Dimensional Fund Advisors LP now owns 5,762,907 shares of the company's stock valued at $198,922,000 after buying an additional 809,792 shares in the last quarter.

Analysts Set New Price Targets

Several equities analysts have weighed in on ARMK shares. Wall Street Zen cut 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 report on Wednesday, August 6th. Morgan Stanley lifted their target price on shares of Aramark from $42.00 to $44.00 and gave the stock an "equal weight" rating in a research report on Monday, June 30th. UBS Group set a $46.00 target price on Aramark and gave the company a "buy" rating in a report on Wednesday, August 6th. Finally, Robert W. Baird upgraded Aramark from a "neutral" rating to an "outperform" rating and lifted their price target for the stock from $43.00 to $47.00 in a report on Wednesday, August 6th. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Buy" and a consensus price target of $45.44.

Aramark Stock Performance

ARMK traded down $0.17 during trading hours on Friday, hitting $39.08. The stock had a trading volume of 956,091 shares, compared to its average volume of 2,560,513. Aramark has a 1 year low of $29.92 and a 1 year high of $44.49. The company's fifty day simple moving average is $41.57 and its 200 day simple moving average is $38.11. The stock has a market cap of $10.27 billion, a PE ratio of 28.95 and a beta of 1.33. The company has a quick ratio of 1.14, a current ratio of 1.29 and a debt-to-equity ratio of 2.03.

Aramark (NYSE:ARMK - Get Free Report) last issued its 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 analyst estimates of $4.66 billion. During the same quarter last year, the business earned $0.31 earnings per share. The company's quarterly revenue was up 5.7% on a year-over-year basis. Aramark has set its FY 2025 guidance at 1.910-1.980 EPS. Equities analysts anticipate that Aramark will post 1.92 earnings per share for the current year.

Aramark Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, August 20th. Stockholders of record on Wednesday, August 6th were issued a $0.105 dividend. This represents a $0.42 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date of this dividend was Wednesday, August 6th. Aramark's dividend payout ratio (DPR) is presently 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.