Choreo LLC Sells 2,386 Shares of Aramark (NYSE:ARMK)

Choreo LLC lowered its stake in shares of Aramark (NYSE:ARMK) by 27.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 6,284 shares of the company’s stock after selling 2,386 shares during the period. Choreo LLC’s holdings in Aramark were worth $234,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Janus Henderson Group PLC boosted its stake in Aramark by 6.0% during the 3rd quarter. Janus Henderson Group PLC now owns 15,714,443 shares of the company’s stock worth $608,619,000 after acquiring an additional 896,288 shares during the last quarter. Massachusetts Financial Services Co. MA increased its position in shares of Aramark by 70.0% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 8,329,917 shares of the company’s stock valued at $322,618,000 after buying an additional 3,430,131 shares in the last quarter. Franklin Resources Inc. raised its stake in Aramark by 7.2% during 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 period. Geode Capital Management LLC lifted its holdings in Aramark by 1.1% during the third 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 in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of Aramark by 0.9% during the 3rd 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 in the last quarter.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on ARMK shares. Royal Bank of Canada reissued an “outperform” rating and set a $47.00 price objective on shares of Aramark in a research report on Thursday, February 6th. Robert W. Baird boosted their price target on Aramark from $44.00 to $45.00 and gave the company a “neutral” rating in a report on Thursday, December 12th. Stifel Nicolaus increased their price objective on Aramark from $43.00 to $45.00 and gave the stock a “buy” rating in a report on Tuesday, November 12th. Truist Financial increased their target price on shares of Aramark from $42.00 to $46.00 and gave the stock a “buy” rating in a report on Tuesday, November 12th. Finally, StockNews.com lowered shares of Aramark from a “buy” rating to a “hold” rating in a research note on Tuesday, January 7th. Three equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat.com, Aramark has an average rating of “Moderate Buy” and an average price target of $43.00.

Aramark Trading Down 2.3 %

Shares of NYSE:ARMK opened at $37.78 on Friday. The company has a 50-day simple moving average of $38.26 and a 200 day simple moving average of $37.89. The company has a market capitalization of $10.02 billion, a P/E 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 52-week low of $29.78 and a 52-week high of $42.49.

Aramark (NYSE:ARMK) last issued its earnings results on Tuesday, February 4th. The company reported $0.51 EPS for the quarter, topping the consensus estimate of $0.48 by $0.03. Aramark had a return on equity of 14.72% and a net margin of 1.94%. The company had revenue of $4.55 billion during the quarter, compared to the consensus estimate of $4.61 billion. During the same period in the previous year, the company posted $0.41 EPS. The firm’s revenue for the quarter was up 3.3% compared to the same quarter last year. Sell-side analysts forecast that Aramark will post 1.92 earnings per share for the current year.

Aramark Increases Dividend

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

Aramark Company 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.