Aramark (NYSE:ARMK) Shares Bought by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. raised its position in Aramark (NYSE:ARMK) by 14.6% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 26,066 shares of the company’s stock after buying an additional 3,312 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in Aramark were worth $973,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the company. Janus Henderson Group PLC boosted its holdings in Aramark by 6.0% in the 3rd quarter. Janus Henderson Group PLC now owns 15,714,443 shares of the company’s stock worth $608,619,000 after buying an additional 896,288 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its holdings in Aramark by 70.0% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 8,329,917 shares of the company’s stock worth $322,618,000 after buying an additional 3,430,131 shares during the last quarter. Franklin Resources Inc. boosted its holdings in Aramark by 7.2% in the 3rd quarter. Franklin Resources Inc. now owns 6,570,938 shares of the company’s stock worth $254,427,000 after buying an additional 441,711 shares during the last quarter. Geode Capital Management LLC boosted its holdings in Aramark by 1.1% in the 3rd quarter. Geode Capital Management LLC now owns 4,363,113 shares of the company’s stock worth $169,028,000 after buying an additional 45,384 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its holdings in Aramark by 0.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,732,661 shares of the company’s stock worth $67,106,000 after buying an additional 14,839 shares during the last quarter.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on ARMK. Robert W. Baird boosted their target price on Aramark from $44.00 to $45.00 and gave the stock a “neutral” rating in a report on Thursday, December 12th. Royal Bank of Canada restated an “outperform” rating and set a $47.00 target price on shares of Aramark in a report on Thursday, February 6th. Morgan Stanley boosted their target price on Aramark from $40.00 to $43.00 and gave the stock an “equal weight” rating in a report on Thursday, December 12th. Truist Financial boosted their target price on Aramark from $42.00 to $46.00 and gave the stock a “buy” rating in a report on Tuesday, November 12th. Finally, StockNews.com cut Aramark from a “buy” rating to a “hold” rating in a report on Tuesday, January 7th. Three analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, Aramark presently has an average rating of “Moderate Buy” and a consensus target price of $43.00.

Aramark Trading Down 2.3 %

ARMK opened at $37.78 on Friday. The stock has a market capitalization of $10.02 billion, a PE ratio of 29.75 and a beta of 1.64. The company has a debt-to-equity ratio of 1.61, a quick ratio of 0.72 and a current ratio of 0.94. Aramark has a one year low of $29.78 and a one year high of $42.49. The business’s 50 day moving average price is $38.26 and its 200 day moving average price is $37.89.

Aramark (NYSE:ARMK) last announced its earnings results on Tuesday, February 4th. The company reported $0.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.48 by $0.03. The company had revenue of $4.55 billion for the quarter, compared to analyst estimates of $4.61 billion. Aramark had a return on equity of 14.72% and a net margin of 1.94%. The firm’s quarterly revenue was up 3.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.41 earnings per share. As a group, equities research analysts expect that Aramark will post 1.92 EPS for the current year.

Aramark Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, February 24th. Shareholders of record on Monday, February 10th will be given a $0.105 dividend. This is a positive change from Aramark’s previous quarterly dividend of $0.00. The ex-dividend date is Monday, February 10th. This represents a $0.42 dividend on an annualized basis and a yield of 1.11%. Aramark’s payout ratio is presently 33.07%.

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.