42,831 Shares in Aramark (NYSE:ARMK) Bought by Envestnet Portfolio Solutions Inc.

Envestnet Portfolio Solutions Inc. bought a new stake in Aramark (NYSE:ARMK - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm bought 42,831 shares of the company's stock, valued at approximately $1,204,000.

Several other hedge funds and other institutional investors also recently modified their holdings of ARMK. Benjamin F. Edwards & Company Inc. acquired a new stake in Aramark in the fourth quarter valued at approximately $28,000. EverSource Wealth Advisors LLC grew its position in Aramark by 2,269.4% during the 3rd quarter. EverSource Wealth Advisors LLC now owns 1,161 shares of the company's stock worth $40,000 after acquiring an additional 1,112 shares during the last quarter. Solstein Capital LLC bought a new stake in Aramark during the 4th quarter worth $47,000. Fifth Third Bancorp raised its position in Aramark by 82.7% in the fourth quarter. Fifth Third Bancorp now owns 1,873 shares of the company's stock valued at $53,000 after purchasing an additional 848 shares during the last quarter. Finally, Oppenheimer Asset Management Inc. acquired a new stake in shares of Aramark during the third quarter valued at about $213,000.

Analyst Ratings Changes

ARMK has been the subject of a number of research reports. Morgan Stanley raised their price objective on shares of Aramark from $28.00 to $30.00 and gave the company an "equal weight" rating in a report on Wednesday, February 7th. Robert W. Baird lifted their price target on shares of Aramark from $35.00 to $37.00 and gave the stock a "neutral" rating in a report on Wednesday, May 8th. Truist Financial increased their price objective on Aramark from $35.00 to $37.00 and gave the company a "buy" rating in a report on Wednesday, March 20th. Finally, Royal Bank of Canada reaffirmed a "sector perform" rating and set a $33.00 target price on shares of Aramark in a report on Wednesday, February 7th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and ten have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $33.32.

Aramark Trading Down 0.7 %

ARMK traded down $0.22 during trading on Friday, hitting $33.31. The company's stock had a trading volume of 2,001,532 shares, compared to its average volume of 2,807,229. The firm has a market capitalization of $8.76 billion, a P/E ratio of 14.00, a PEG ratio of 1.34 and a beta of 1.47. Aramark has a twelve month low of $23.95 and a twelve month high of $34.00. The stock's fifty day moving average price is $31.97 and its 200-day moving average price is $29.90. The company has a quick ratio of 1.11, a current ratio of 1.25 and a debt-to-equity ratio of 2.03.

Aramark Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, May 28th. Investors of record on Monday, May 13th will be paid a dividend of $0.095 per share. This represents a $0.38 annualized dividend and a yield of 1.14%. The ex-dividend date of this dividend is Friday, May 10th. Aramark's dividend payout ratio is presently 15.97%.

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.