Shikiar Asset Management Inc. Sells 59,990 Shares of Aramark $ARMK

Key Points

• Shikiar Asset Management Inc. reduced its holdings in Aramark by 57.1% during the second quarter, selling 59,990 shares and leaving them with 45,140 shares valued at approximately $1.89 million.
• Aramark's stock is experiencing analyst upgrades, with Robert W. Baird raising its rating from "neutral" to "outperform" and increasing the target price from $43 to $47.
• The company recently announced a quarterly dividend of $0.105, representing an annualized yield of 1.1%, with a payout ratio of 31.11%.

Shikiar Asset Management Inc. decreased its holdings in Aramark (NYSE:ARMK - Free Report) by 57.1% during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 45,140 shares of the company's stock after selling 59,990 shares during the quarter. Shikiar Asset Management Inc.'s holdings in Aramark were worth $1,890,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the stock. Sumitomo Mitsui Trust Group Inc. raised its stake in shares of Aramark by 1.7% in the first quarter. Sumitomo Mitsui Trust Group Inc. now owns 26,504 shares of the company's stock worth $915,000 after purchasing an additional 438 shares during the last quarter. GAMMA Investing LLC grew its holdings in Aramark by 48.1% during the first quarter. GAMMA Investing LLC now owns 6,364 shares of the company's stock worth $220,000 after buying an additional 2,067 shares in the last quarter. Voya Investment Management LLC raised its position in Aramark by 27.3% in the 1st quarter. Voya Investment Management LLC now owns 116,601 shares of the company's stock valued at $4,025,000 after buying an additional 24,984 shares during the last quarter. Focus Partners Wealth lifted its stake in Aramark by 1.1% during the 1st quarter. Focus Partners Wealth now owns 619,386 shares of the company's stock valued at $21,381,000 after acquiring an additional 6,702 shares in the last quarter. Finally, Bessemer Group Inc. boosted its holdings in Aramark by 83.2% during the 1st quarter. Bessemer Group Inc. now owns 1,411 shares of the company's stock worth $49,000 after acquiring an additional 641 shares during the last quarter.

Analyst Ratings Changes

ARMK has been the subject of several analyst reports. Robert W. Baird upgraded shares of Aramark from a "neutral" rating to an "outperform" rating and increased their target price for the company from $43.00 to $47.00 in a report on Wednesday, August 6th. Morgan Stanley upped their price objective 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. Wall Street Zen cut shares of Aramark from a "buy" rating to a "hold" rating in a research report on Saturday, August 9th. Weiss Ratings restated a "hold (c)" rating on shares of Aramark in a research note on Saturday, September 27th. Finally, Baird R W raised Aramark from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, August 6th. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, Aramark presently has an average rating of "Moderate Buy" and an average price target of $45.33.

Aramark Stock Up 3.1%

Aramark stock opened at $39.84 on Friday. The firm has a 50 day moving average price of $39.00 and a 200-day moving average price of $38.57. 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 has a twelve month low of $29.92 and a twelve month high of $44.49. The company has a market capitalization of $10.47 billion, a P/E ratio of 29.51 and a beta of 1.21.

Aramark (NYSE:ARMK - Get Free Report) last posted its quarterly earnings data on Tuesday, August 5th. The company reported $0.40 EPS 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 business had revenue of $4.63 billion for the quarter, compared to the consensus estimate of $4.66 billion. During the same quarter in the prior year, the business earned $0.31 earnings per share. Aramark's revenue for the quarter was up 5.7% on a year-over-year basis. Aramark has set its FY 2025 guidance at 1.910-1.980 EPS. As a group, equities analysts predict that Aramark will post 1.92 EPS for the current year.

Aramark Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, August 20th. Stockholders 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 dividend yield of 1.1%. Aramark's payout ratio is 31.11%.

About Aramark

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.

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