Shikiar Asset Management Inc. Buys 79,595 Shares of Aramark (NYSE:ARMK)

Shikiar Asset Management Inc. grew its position in shares of Aramark (NYSE:ARMK - Free Report) by 66.8% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 198,815 shares of the company's stock after purchasing an additional 79,595 shares during the quarter. Aramark makes up about 1.7% of Shikiar Asset Management Inc.'s investment portfolio, making the stock its 19th largest position. Shikiar Asset Management Inc. owned 0.08% of Aramark worth $5,587,000 at the end of the most recent reporting period.

Other institutional investors have also recently modified their holdings of the company. New York Life Investment Management LLC grew its position in Aramark by 112.2% during the 3rd quarter. New York Life Investment Management LLC now owns 27,665 shares of the company's stock worth $960,000 after acquiring an additional 14,628 shares during the last quarter. New York State Teachers Retirement System grew its position in Aramark by 24.1% during the 4th quarter. New York State Teachers Retirement System now owns 141,849 shares of the company's stock worth $3,986,000 after acquiring an additional 27,522 shares during the last quarter. Nordea Investment Management AB grew its position in Aramark by 121.0% during the 4th quarter. Nordea Investment Management AB now owns 368,303 shares of the company's stock worth $10,268,000 after acquiring an additional 201,623 shares during the last quarter. Envestnet Asset Management Inc. grew its position in Aramark by 451.3% during the 3rd quarter. Envestnet Asset Management Inc. now owns 107,062 shares of the company's stock worth $3,715,000 after acquiring an additional 87,641 shares during the last quarter. Finally, CenterBook Partners LP grew its position in Aramark by 143.8% during the 3rd quarter. CenterBook Partners LP now owns 90,635 shares of the company's stock worth $3,145,000 after acquiring an additional 53,463 shares during the last quarter.

Analyst Ratings Changes

ARMK has been the subject of several research analyst reports. Royal Bank of Canada reiterated a "sector perform" rating and issued a $33.00 price objective on shares of Aramark in a report on Wednesday, February 7th. The Goldman Sachs Group initiated coverage on Aramark in a report on Wednesday, January 17th. They issued a "buy" rating and a $33.00 price objective for the company. Morgan Stanley increased their price objective on Aramark from $28.00 to $30.00 and gave the stock an "equal weight" rating in a report on Wednesday, February 7th. Finally, Truist Financial increased their price objective on 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 issued a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat, Aramark currently has a consensus rating of "Moderate Buy" and a consensus target price of $33.04.

Aramark Stock Up 2.1 %

NYSE:ARMK traded up $0.67 during trading hours on Friday, reaching $31.87. 3,200,286 shares of the company traded hands, compared to its average volume of 2,540,585. The business's 50-day moving average price is $31.40 and its two-hundred day moving average price is $29.04. The stock has a market capitalization of $8.36 billion, a P/E ratio of 13.33, a P/E/G ratio of 1.28 and a beta of 1.48. Aramark has a 1 year low of $23.95 and a 1 year high of $33.04. The company has a current ratio of 1.27, a quick ratio of 1.12 and a debt-to-equity ratio of 2.08.

Aramark (NYSE:ARMK - Get Free Report) last announced its quarterly earnings data on Tuesday, February 6th. The company reported $0.41 earnings per share (EPS) for the quarter, beating 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 return on equity of 13.45% and a net margin of 3.37%. The firm's quarterly revenue was up 12.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.41 earnings per share. Analysts predict that Aramark will post 1.56 earnings per share for the current year.

Aramark Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, February 28th. Shareholders of record on Wednesday, February 14th were issued a $0.095 dividend. This represents a $0.38 dividend on an annualized basis and a dividend yield of 1.19%. The ex-dividend date of this dividend was Tuesday, February 13th. Aramark's payout ratio is 15.90%.

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.