Federated Hermes Inc. Sells 1,232 Shares of Aramark (NYSE:ARMK)

Federated Hermes Inc. decreased its stake in shares of Aramark (NYSE:ARMK) by 4.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 26,851 shares of the company’s stock after selling 1,232 shares during the period. Federated Hermes Inc.’s holdings in Aramark were worth $913,000 as of its most recent SEC filing.

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

Aramark Stock Performance

Shares of ARMK opened at $37.75 on Friday. The firm has a market capitalization of $9.93 billion, a P/E ratio of 15.86, a PEG ratio of 2.04 and a beta of 1.62. The company has a debt-to-equity ratio of 1.71, a current ratio of 0.96 and a quick ratio of 0.86. Aramark has a one year low of $23.95 and a one year high of $38.99. The business has a fifty day moving average of $35.43 and a 200 day moving average of $33.44.

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

Aramark Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders 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 annualized dividend and a yield of 1.01%. Aramark’s payout ratio is presently 15.97%.

Analyst Ratings Changes

ARMK has been the topic of a number of recent research reports. StockNews.com raised shares of Aramark from a “sell” rating to a “hold” rating in a research report on Saturday. Oppenheimer raised their price target on Aramark from $36.00 to $39.00 and gave the company an “outperform” rating in a report on Wednesday, June 12th. Royal Bank of Canada upgraded shares of Aramark from a “sector perform” rating to an “outperform” rating and upped their price target for the stock from $36.00 to $42.50 in a research note on Tuesday, September 17th. Morgan Stanley lifted their target price on shares of Aramark from $35.00 to $38.00 and gave the stock an “equal weight” rating in a report on Monday, September 9th. Finally, Bank of America increased their price target on shares of Aramark from $36.00 to $39.00 and gave the company a “buy” rating in a report on Wednesday, August 7th. Three research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Aramark has an average rating of “Moderate Buy” and an average target price of $37.36.

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.