Aramark (NYSE:ARMK) Shares Sold by Shikiar Asset Management Inc.

Shikiar Asset Management Inc. reduced its holdings in shares of Aramark (NYSE:ARMK) by 23.5% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 234,185 shares of the company’s stock after selling 72,030 shares during the quarter. Aramark accounts for 2.4% of Shikiar Asset Management Inc.’s portfolio, making the stock its 16th largest position. Shikiar Asset Management Inc. owned about 0.09% of Aramark worth $9,070,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in ARMK. Vanguard Group Inc. raised its stake in Aramark by 0.5% during the fourth quarter. Vanguard Group Inc. now owns 25,584,242 shares of the company’s stock valued at $718,917,000 after buying an additional 139,693 shares in the last quarter. Capital International Investors lifted its stake in Aramark by 0.4% during the first quarter. Capital International Investors now owns 23,712,814 shares of the company’s stock worth $771,141,000 after purchasing an additional 98,506 shares during the last quarter. Farallon Capital Management LLC boosted its holdings in Aramark by 5.5% in the first quarter. Farallon Capital Management LLC now owns 17,822,937 shares of the company’s stock worth $579,602,000 after purchasing an additional 923,683 shares during the period. Janus Henderson Group PLC increased its stake in Aramark by 5.4% during the first quarter. Janus Henderson Group PLC now owns 13,391,832 shares of the company’s stock valued at $435,501,000 after purchasing an additional 681,735 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in shares of Aramark by 18.0% during the second quarter. Dimensional Fund Advisors LP now owns 4,731,963 shares of the company’s stock worth $160,977,000 after purchasing an additional 720,738 shares during the period.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on ARMK. Morgan Stanley boosted their price objective on shares of Aramark from $35.00 to $38.00 and gave the company an “equal weight” rating in a research report on Monday, September 9th. Truist Financial raised their price target on Aramark from $37.00 to $42.00 and gave the stock a “buy” rating in a report on Thursday, September 12th. StockNews.com downgraded Aramark from a “hold” rating to a “sell” rating in a research note on Tuesday, October 8th. Bank of America raised their target price on Aramark from $36.00 to $39.00 and gave the company a “buy” rating in a research note on Wednesday, August 7th. Finally, JPMorgan Chase & Co. increased their price objective on shares of Aramark from $39.00 to $41.00 and gave the stock an “overweight” rating in a report on Monday, September 9th. One analyst has rated the stock with a sell rating, two have given a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $38.95.

Aramark Stock Up 1.6 %

Shares of Aramark stock opened at $38.11 on Friday. Aramark has a 12-month low of $25.28 and a 12-month high of $38.99. The company has a quick ratio of 0.86, a current ratio of 0.96 and a debt-to-equity ratio of 1.71. The stock has a 50 day moving average price of $36.74 and a two-hundred day moving average price of $34.10. The stock has a market capitalization of $10.02 billion, a P/E ratio of 16.01 and a beta of 1.62.

Aramark (NYSE:ARMK) last posted its quarterly earnings data on Tuesday, August 6th. The company reported $0.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.30 by $0.01. The business had revenue of $4.38 billion during the quarter, compared to the consensus estimate of $4.31 billion. Aramark had a net margin of 1.93% and a return on equity of 14.09%. Aramark’s quarterly revenue was up 8.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.36 EPS. Equities analysts expect that Aramark will post 1.55 earnings per share for the current year.

Aramark Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Monday, August 19th were given a dividend of $0.095 per share. This represents a $0.38 dividend on an annualized basis and a yield of 1.00%. The ex-dividend date of this dividend was Monday, August 19th. Aramark’s dividend payout ratio (DPR) is currently 15.97%.

Aramark 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.