Aramark $ARMK Stock Position Decreased by Royal Bank of Canada

Key Points

• Royal Bank of Canada has reduced its ownership in Aramark by 15.3%, selling 65,431 shares and holding 361,161 shares worth approximately $12.47 million at the end of the last quarter.
• Several institutional investors, including Massachusetts Financial Services and Fiduciary Management, have increased their stakes in Aramark, with Massachusetts Financial Services raising its holdings by 29.5%.
• Aramark reported earnings of $0.40 EPS for the last quarter, matching estimates, and announced a quarterly dividend yield of 1.1%, with a payout ratio of 31.11%.

Royal Bank of Canada lowered its holdings in Aramark (NYSE:ARMK - Free Report) by 15.3% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 361,161 shares of the company's stock after selling 65,431 shares during the period. Royal Bank of Canada owned approximately 0.14% of Aramark worth $12,467,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Harbour Investments Inc. increased its holdings in Aramark by 40,750.0% in the 1st quarter. Harbour Investments Inc. now owns 817 shares of the company's stock valued at $28,000 after purchasing an additional 815 shares in the last quarter. Bessemer Group Inc. grew its stake in shares of Aramark by 83.2% in the first quarter. Bessemer Group Inc. now owns 1,411 shares of the company's stock valued at $49,000 after buying an additional 641 shares in the last quarter. Lazard Asset Management LLC acquired a new stake in shares of Aramark in the fourth quarter valued at about $72,000. UMB Bank n.a. raised its holdings in shares of Aramark by 82.6% during the 1st quarter. UMB Bank n.a. now owns 2,472 shares of the company's stock valued at $85,000 after buying an additional 1,118 shares during the period. Finally, Caitong International Asset Management Co. Ltd lifted its position in 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 acquiring an additional 1,052 shares in the last quarter.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on ARMK shares. 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 lifted their price target on shares of Aramark from $42.00 to $44.00 and gave the stock an "equal weight" rating in a research note on Monday, June 30th. Wall Street Zen lowered shares of Aramark from a "buy" rating to a "hold" rating in a report on Saturday, August 9th. Robert W. Baird upgraded Aramark from a "neutral" rating to an "outperform" rating and raised their target price for the company from $43.00 to $47.00 in a research note on Wednesday, August 6th. Finally, Baird R W upgraded Aramark from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, August 6th. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and one has assigned a Hold rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Buy" and a consensus price target of $45.44.

Aramark Stock Down 0.8%

Shares of Aramark stock traded down $0.30 during trading on Tuesday, reaching $37.51. The company had a trading volume of 402,261 shares, compared to its average volume of 2,022,969. 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 fifty-two week low of $29.92 and a fifty-two week high of $44.49. The firm's fifty day moving average is $40.83 and its 200-day moving average is $38.23. The company has a market cap of $9.86 billion, a price-to-earnings ratio of 27.78 and a beta of 1.22.

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, meeting the consensus estimate of $0.40. Aramark had a return on equity of 15.67% and a net margin of 2.02%.The firm had revenue of $4.63 billion during the quarter, compared to analyst estimates of $4.66 billion. During the same period in the previous year, the company earned $0.31 earnings per share. Aramark'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. On average, analysts anticipate that Aramark will post 1.92 EPS for the current year.

Aramark Dividend Announcement

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