StockNews.com downgraded shares of Aramark (NYSE:ARMK – Free Report) from a buy rating to a hold rating in a report released on Tuesday.
Several other equities analysts have also recently issued reports on ARMK. Truist Financial lifted their price objective on Aramark from $42.00 to $46.00 and gave the stock a “buy” rating in a report on Tuesday, November 12th. Robert W. Baird boosted their price objective on shares of Aramark from $44.00 to $45.00 and gave the stock a “neutral” rating in a research report on Thursday, December 12th. Stifel Nicolaus raised their target price on shares of Aramark from $43.00 to $45.00 and gave the company a “buy” rating in a report on Tuesday, November 12th. Royal Bank of Canada raised shares of Aramark from a “sector perform” rating to an “outperform” rating and upped their price target for the company from $36.00 to $42.50 in a report on Tuesday, September 17th. Finally, The Goldman Sachs Group raised their price objective on shares of Aramark from $38.00 to $41.00 and gave the stock a “buy” rating in a research note on Wednesday, October 16th. Three investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $42.59.
Read Our Latest Stock Analysis on Aramark
Aramark Stock Performance
Aramark (NYSE:ARMK – Get Free Report) last issued its earnings results on Monday, November 11th. The company reported $0.54 earnings per share for the quarter, hitting the consensus estimate of $0.54. Aramark had a net margin of 1.51% and a return on equity of 14.06%. The company had revenue of $4.42 billion for the quarter, compared to analyst estimates of $4.46 billion. During the same period in the prior year, the business posted $0.64 earnings per share. The firm’s revenue for the quarter was up 5.2% compared to the same quarter last year. Analysts expect that Aramark will post 1.92 earnings per share for the current fiscal year.
Aramark Cuts Dividend
The company also recently announced a quarterly dividend, which was paid on Thursday, December 12th. Shareholders of record on Monday, December 2nd were paid a $0.001 dividend. The ex-dividend date of this dividend was Monday, December 2nd. This represents a $0.00 annualized dividend and a yield of 0.01%. Aramark’s payout ratio is currently 42.42%.
Institutional Investors Weigh In On Aramark
Several hedge funds have recently made changes to their positions in the business. Y Intercept Hong Kong Ltd purchased a new position in Aramark during the third quarter worth about $716,000. Franklin Resources Inc. increased its stake in shares of Aramark by 7.2% during the 3rd quarter. Franklin Resources Inc. now owns 6,570,938 shares of the company’s stock valued at $254,427,000 after acquiring an additional 441,711 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of Aramark by 1.1% during the 3rd quarter. Geode Capital Management LLC now owns 4,363,113 shares of the company’s stock worth $169,028,000 after acquiring an additional 45,384 shares during the period. Blue Trust Inc. boosted its position in shares of Aramark by 173.9% in the third quarter. Blue Trust Inc. now owns 5,697 shares of the company’s stock worth $221,000 after acquiring an additional 3,617 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in Aramark by 0.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,732,661 shares of the company’s stock valued at $67,106,000 after purchasing an additional 14,839 shares during the period.
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.
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