Corient Private Wealth LLC Has $340,000 Position in Aramark (NYSE:ARMK)

Corient Private Wealth LLC lessened its position in Aramark (NYSE:ARMK) by 25.0% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 9,102 shares of the company’s stock after selling 3,026 shares during the period. Corient Private Wealth LLC’s holdings in Aramark were worth $340,000 as of its most recent filing with the SEC.

Several other hedge funds also recently bought and sold shares of ARMK. Jones Financial Companies Lllp lifted its holdings in Aramark by 45.7% during the fourth quarter. Jones Financial Companies Lllp now owns 988 shares of the company’s stock worth $37,000 after acquiring an additional 310 shares in the last quarter. UMB Bank n.a. raised its position in shares of Aramark by 75.2% during the fourth quarter. UMB Bank n.a. now owns 1,354 shares of the company’s stock worth $51,000 after purchasing an additional 581 shares during the period. Global Retirement Partners LLC raised its position in shares of Aramark by 167.2% during the fourth quarter. Global Retirement Partners LLC now owns 1,424 shares of the company’s stock worth $53,000 after purchasing an additional 891 shares during the period. Wealthfront Advisers LLC bought a new position in shares of Aramark during the 4th quarter valued at about $83,000. Finally, Quarry LP grew its position in shares of Aramark by 1,322.0% in the 3rd quarter. Quarry LP now owns 2,972 shares of the company’s stock valued at $115,000 after purchasing an additional 2,763 shares during the period.

Analyst Ratings Changes

Several brokerages have commented on ARMK. 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 raised their price objective on shares of Aramark from $40.00 to $43.00 and gave the stock an “equal weight” rating in a report on Thursday, December 12th. Robert W. Baird upped their target price on shares of Aramark from $44.00 to $45.00 and gave the stock a “neutral” rating in a research note on Thursday, December 12th. Citigroup assumed coverage on Aramark in a report on Monday, February 24th. They set a “buy” rating and a $48.00 target price for the company. Finally, StockNews.com lowered 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 ten have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $43.42.

Aramark Stock Performance

ARMK opened at $34.16 on Monday. The business’s 50-day simple moving average is $36.76 and its 200 day simple moving average is $37.95. Aramark has a 52-week low of $29.82 and a 52-week high of $42.49. The company has a debt-to-equity ratio of 1.61, a quick ratio of 0.84 and a current ratio of 0.94. The firm has a market capitalization of $9.06 billion, a PE ratio of 26.90 and a beta of 1.60.

Aramark (NYSE:ARMK) last announced its quarterly earnings data on Tuesday, February 4th. The company reported $0.51 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.48 by $0.03. The company had revenue of $4.55 billion for the quarter, compared to analysts’ expectations of $4.61 billion. Aramark had a return on equity of 14.72% and a net margin of 1.94%. The business’s revenue was up 3.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.41 EPS. As a group, sell-side analysts expect that Aramark will post 1.92 earnings per share for the current fiscal year.

Aramark Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, February 24th. Shareholders of record on Monday, February 10th were paid a $0.105 dividend. The ex-dividend date was Monday, February 10th. This represents a $0.42 dividend on an annualized basis and a yield of 1.23%. This is a boost from Aramark’s previous quarterly dividend of $0.00. Aramark’s dividend payout ratio (DPR) is currently 33.07%.

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.