Asset Management One Co. Ltd. Sells 58,420 Shares of Aramark (NYSE:ARMK)

Asset Management One Co. Ltd. decreased its holdings in Aramark (NYSE:ARMK - Free Report) by 29.1% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 142,351 shares of the company's stock after selling 58,420 shares during the quarter. Asset Management One Co. Ltd. owned 0.05% of Aramark worth $3,990,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. S.A. Mason LLC bought a new stake in shares of Aramark in the 3rd quarter worth $38,000. EverSource Wealth Advisors LLC boosted its holdings in Aramark by 2,269.4% during the third quarter. EverSource Wealth Advisors LLC now owns 1,161 shares of the company's stock worth $40,000 after purchasing an additional 1,112 shares during the last quarter. CWM LLC grew its position in Aramark by 67.0% in the 3rd quarter. CWM LLC now owns 1,196 shares of the company's stock worth $42,000 after purchasing an additional 480 shares in the last quarter. UniSuper Management Pty Ltd purchased a new stake in Aramark in the 2nd quarter valued at about $69,000. Finally, Solstein Capital LLC bought a new position in shares of Aramark during the 4th quarter worth approximately $47,000.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on ARMK. Morgan Stanley lifted their target price on Aramark from $28.00 to $30.00 and gave the stock an "equal weight" rating in a research note on Wednesday, February 7th. The Goldman Sachs Group began coverage on shares of Aramark in a research report on Wednesday, January 17th. They issued a "buy" rating and a $33.00 price objective on the stock. Royal Bank of Canada reissued a "sector perform" rating and set a $33.00 target price on shares of Aramark in a research report on Wednesday, February 7th. Finally, Truist Financial lifted their price target on shares of Aramark from $35.00 to $37.00 and gave the stock a "buy" rating in a report on Wednesday, March 20th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat, Aramark currently has an average rating of "Moderate Buy" and a consensus target price of $33.04.

Aramark Price Performance

Shares of NYSE ARMK traded down $0.40 during midday trading on Friday, hitting $31.55. 2,222,683 shares of the company's stock were exchanged, compared to its average volume of 2,491,553. The company has a current ratio of 1.27, a quick ratio of 1.12 and a debt-to-equity ratio of 2.08. The business's fifty day moving average price is $31.18 and its two-hundred day moving average price is $29.06. The company has a market cap of $8.28 billion, a price-to-earnings ratio of 13.37, a PEG ratio of 1.28 and a beta of 1.48. Aramark has a 12-month low of $23.95 and a 12-month high of $33.04.

Aramark (NYSE:ARMK - Get Free Report) last released its quarterly earnings results on Tuesday, February 6th. The company reported $0.41 EPS for the quarter, topping analysts' consensus estimates of $0.36 by $0.05. The business had revenue of $4.41 billion during the quarter, compared to analysts' expectations of $4.29 billion. Aramark had a net margin of 3.37% and a return on equity of 13.45%. The business's quarterly revenue was up 12.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.41 EPS. As a group, research analysts forecast that Aramark will post 1.56 EPS for the current fiscal year.

Aramark Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, February 28th. Investors of record on Wednesday, February 14th were given a $0.095 dividend. The ex-dividend date was Tuesday, February 13th. This represents a $0.38 dividend on an annualized basis and a yield of 1.20%. Aramark's payout ratio is 15.90%.

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.