Daiwa Securities Group Inc. Sells 1,410 Shares of Aramark (NYSE:ARMK)

Daiwa Securities Group Inc. reduced its stake in shares of Aramark (NYSE:ARMK) by 7.2% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 18,130 shares of the company’s stock after selling 1,410 shares during the quarter. Daiwa Securities Group Inc.’s holdings in Aramark were worth $617,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Public Sector Pension Investment Board acquired a new stake in shares of Aramark in the 4th quarter worth about $75,477,000. Norges Bank purchased a new stake in shares of Aramark in the fourth quarter worth $68,309,000. Farallon Capital Management LLC boosted its position in shares of Aramark by 5.5% during the 1st quarter. Farallon Capital Management LLC now owns 17,822,937 shares of the company’s stock valued at $579,602,000 after acquiring an additional 923,683 shares during the last quarter. Schroder Investment Management Group grew its stake in Aramark by 51.0% in the 4th quarter. Schroder Investment Management Group now owns 2,209,513 shares of the company’s stock worth $62,087,000 after buying an additional 746,618 shares in the last quarter. Finally, Janus Henderson Group PLC grew its position in Aramark by 5.4% in the first quarter. Janus Henderson Group PLC now owns 13,391,832 shares of the company’s stock worth $435,501,000 after acquiring an additional 681,735 shares in the last quarter.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on ARMK. Deutsche Bank Aktiengesellschaft upgraded shares of Aramark from a “hold” rating to a “buy” rating and upped their price target for the company from $36.00 to $39.00 in a report on Wednesday, August 7th. JPMorgan Chase & Co. raised their target price on shares of Aramark from $39.00 to $41.00 and gave the company an “overweight” rating in a research note on Monday, September 9th. Truist Financial upped their price target on shares of Aramark from $37.00 to $42.00 and gave the stock a “buy” rating in a research note on Thursday, September 12th. Oppenheimer increased their target price on Aramark from $36.00 to $39.00 and gave the company an “outperform” rating in a research note on Wednesday, June 12th. Finally, Royal Bank of Canada lifted their price objective on Aramark from $33.00 to $36.00 and gave the stock a “sector perform” rating in a report on Wednesday, August 7th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and ten have issued a buy rating to the stock. According to MarketBeat.com, Aramark has an average rating of “Moderate Buy” and an average target price of $36.89.

Aramark Stock Performance

Shares of NYSE ARMK opened at $38.27 on Tuesday. The company has a market cap of $10.06 billion, a P/E ratio of 16.08, a P/E/G ratio of 2.04 and a beta of 1.62. The firm’s fifty day moving average is $34.99 and its two-hundred day moving average is $33.25. The company has a debt-to-equity ratio of 1.71, a quick ratio of 0.86 and a current ratio of 0.96. Aramark has a 52-week low of $23.95 and a 52-week high of $38.57.

Aramark (NYSE:ARMK) last announced its quarterly earnings results on Tuesday, August 6th. The company reported $0.31 earnings per share for the quarter, topping the consensus estimate of $0.30 by $0.01. Aramark had a net margin of 1.93% and a return on equity of 14.09%. The company had revenue of $4.38 billion for the quarter, compared to analysts’ expectations of $4.31 billion. During the same quarter in the previous year, the business posted $0.36 earnings per share. Aramark’s quarterly revenue was up 8.0% on a year-over-year basis. As a group, analysts anticipate that Aramark will post 1.57 EPS for the current fiscal year.

Aramark Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Monday, August 19th were given a $0.095 dividend. The ex-dividend date was Monday, August 19th. This represents a $0.38 dividend on an annualized basis and a yield of 0.99%. Aramark’s dividend payout ratio is presently 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.