Aramark (NYSE:ARMK) Shares Purchased by abrdn plc

abrdn plc boosted its holdings in Aramark (NYSE:ARMK - Free Report) by 95.1% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 77,724 shares of the company's stock after purchasing an additional 37,896 shares during the quarter. abrdn plc's holdings in Aramark were worth $2,184,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the stock. CWM LLC increased its holdings in shares of Aramark by 67.0% in the third quarter. CWM LLC now owns 1,196 shares of the company's stock worth $42,000 after purchasing an additional 480 shares during the last quarter. Handelsbanken Fonder AB raised its holdings in shares of Aramark by 51.1% during the 3rd quarter. Handelsbanken Fonder AB now owns 53,500 shares of the company's stock worth $1,856,000 after acquiring an additional 18,100 shares in the last quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund boosted its position in shares of Aramark by 18.2% during the 3rd quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 79,388 shares of the company's stock valued at $2,755,000 after acquiring an additional 12,200 shares during the last quarter. Raymond James & Associates grew its holdings in shares of Aramark by 36.1% in the third quarter. Raymond James & Associates now owns 18,098 shares of the company's stock valued at $628,000 after purchasing an additional 4,805 shares in the last quarter. Finally, New York State Teachers Retirement System increased its position in Aramark by 8.4% in the third quarter. New York State Teachers Retirement System now owns 114,327 shares of the company's stock worth $3,967,000 after purchasing an additional 8,891 shares during the last quarter.

Aramark Trading Up 0.3 %

ARMK traded up $0.09 during trading hours on Monday, reaching $32.45. 1,573,254 shares of the company's stock traded hands, compared to its average volume of 2,425,989. The firm has a 50-day moving average price of $31.59 and a 200 day moving average price of $29.34. The firm has a market capitalization of $8.52 billion, a PE ratio of 13.58, a PEG ratio of 1.30 and a beta of 1.48. The company has a quick ratio of 1.12, a current ratio of 1.27 and a debt-to-equity ratio of 2.08. Aramark has a 52-week low of $23.95 and a 52-week high of $33.04.

Aramark (NYSE:ARMK - Get Free Report) last issued its earnings results 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 firm had revenue of $4.41 billion during the quarter, compared to analyst estimates of $4.29 billion. Aramark had a net margin of 3.37% and a return on equity of 13.45%. The business's revenue was up 12.6% on a year-over-year basis. During the same period in the previous year, the firm earned $0.41 earnings per share. As a group, sell-side analysts predict that Aramark will post 1.56 EPS for the current fiscal year.

Aramark Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, May 28th. Stockholders of record on Monday, May 13th will be given a dividend of $0.095 per share. This represents a $0.38 dividend on an annualized basis and a dividend yield of 1.17%. The ex-dividend date is Friday, May 10th. Aramark's dividend payout ratio (DPR) is presently 15.90%.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. The Goldman Sachs Group initiated coverage on shares of Aramark in a research note on Wednesday, January 17th. They issued a "buy" rating and a $33.00 price objective for the company. Royal Bank of Canada reissued a "sector perform" rating and set a $33.00 price objective on shares of Aramark in a research note on Wednesday, February 7th. Morgan Stanley upped their price objective on Aramark from $28.00 to $30.00 and gave the company an "equal weight" rating in a research report on Wednesday, February 7th. Finally, Truist Financial lifted their target price 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 assigned a hold rating and ten have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $33.04.

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.