Aramark (NYSE:ARMK) Shares Acquired by Channing Capital Management LLC

Channing Capital Management LLC increased its holdings in shares of Aramark (NYSE:ARMK) by 35.8% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 352,729 shares of the company’s stock after purchasing an additional 92,954 shares during the quarter. Channing Capital Management LLC’s holdings in Aramark were worth $9,912,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the business. National Bank of Canada FI increased its holdings in shares of Aramark by 2,316.5% during the 4th quarter. National Bank of Canada FI now owns 774,152 shares of the company’s stock worth $21,630,000 after buying an additional 742,116 shares during the last quarter. M&T Bank Corp increased its stake in Aramark by 5.7% during the fourth quarter. M&T Bank Corp now owns 8,129 shares of the company’s stock worth $229,000 after acquiring an additional 442 shares during the last quarter. Benjamin F. Edwards & Company Inc. purchased a new position in shares of Aramark in the 4th quarter worth about $28,000. New York Life Investment Management LLC lifted its stake in shares of Aramark by 1.7% in the 4th quarter. New York Life Investment Management LLC now owns 28,127 shares of the company’s stock valued at $790,000 after purchasing an additional 462 shares in the last quarter. Finally, Russell Investments Group Ltd. grew its holdings in shares of Aramark by 182.0% during the 4th quarter. Russell Investments Group Ltd. now owns 1,443,849 shares of the company’s stock worth $40,435,000 after purchasing an additional 931,904 shares during the period.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. The Goldman Sachs Group started coverage on shares of Aramark in a research report on Wednesday, January 17th. They set a “buy” rating and a $33.00 price target on the stock. Morgan Stanley lifted their target price 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. Royal Bank of Canada reissued a “sector perform” rating and issued a $33.00 price objective on shares of Aramark in a research report on Wednesday, February 7th. Finally, Truist Financial upped their target price on Aramark from $35.00 to $37.00 and gave the stock a “buy” rating in a research 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 company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $33.04.

Aramark Stock Down 0.0 %

Shares of Aramark stock traded down $0.01 on Friday, hitting $30.92. 2,323,143 shares of the company’s stock traded hands, compared to its average volume of 2,247,518. The company has a quick ratio of 1.12, a current ratio of 1.27 and a debt-to-equity ratio of 2.08. The firm’s 50-day moving average is $31.61 and its 200 day moving average is $29.47. The stock has a market cap of $8.11 billion, a P/E ratio of 12.94, a PEG ratio of 1.24 and a beta of 1.47. Aramark has a 52-week low of $23.95 and a 52-week high of $33.04.

Aramark (NYSE:ARMK) last announced its quarterly earnings data on Tuesday, February 6th. The company reported $0.41 earnings per share for the quarter, topping the consensus estimate of $0.36 by $0.05. The company 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 firm’s revenue for the quarter was up 12.6% compared to the same quarter last year. During the same period last year, the business earned $0.41 EPS. Equities analysts anticipate that Aramark will post 1.56 earnings per share for the current year.

Aramark Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 28th. Shareholders 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 1.23%. The ex-dividend date is Friday, May 10th. Aramark’s payout ratio is currently 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.