Shikiar Asset Management Inc. Sells 72,030 Shares of Aramark (NYSE:ARMK)

Shikiar Asset Management Inc. lessened its position in shares of Aramark (NYSE:ARMK) by 23.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 234,185 shares of the company’s stock after selling 72,030 shares during the quarter. Aramark makes up about 2.4% of Shikiar Asset Management Inc.’s investment portfolio, making the stock its 16th largest position. Shikiar Asset Management Inc.’s holdings in Aramark were worth $9,070,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Scarborough Advisors LLC bought a new position in Aramark during the fourth quarter worth about $34,000. Royal London Asset Management Ltd. lifted its position in shares of Aramark by 2.1% during the 4th quarter. Royal London Asset Management Ltd. now owns 120,520 shares of the company’s stock worth $3,387,000 after buying an additional 2,472 shares during the period. Vanguard Group Inc. boosted its stake in Aramark by 0.5% in the 4th quarter. Vanguard Group Inc. now owns 25,584,242 shares of the company’s stock valued at $718,917,000 after buying an additional 139,693 shares in the last quarter. Rise Advisors LLC bought a new stake in Aramark in the first quarter valued at $25,000. Finally, Perpetual Ltd raised its stake in Aramark by 3.0% during the first quarter. Perpetual Ltd now owns 1,404,905 shares of the company’s stock worth $45,041,000 after acquiring an additional 40,520 shares in the last quarter.

Aramark Price Performance

ARMK opened at $38.11 on Friday. The company has a fifty day moving average price of $36.74 and a two-hundred day moving average price of $34.10. The firm has a market capitalization of $10.02 billion, a PE ratio of 16.01 and a beta of 1.62. Aramark has a 52 week low of $25.28 and a 52 week high of $38.99. 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 (NYSE:ARMK) last announced its quarterly earnings data on Tuesday, August 6th. The company reported $0.31 EPS for the quarter, topping 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 analysts’ expectations of $4.31 billion. During the same period in the previous year, the firm earned $0.36 earnings per share. The firm’s quarterly revenue was up 8.0% compared to the same quarter last year. As a group, analysts anticipate that Aramark will post 1.55 earnings per share for the current year.

Aramark Announces Dividend

The company 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 dividend yield of 1.00%. Aramark’s dividend payout ratio is 15.97%.

Analyst Ratings Changes

ARMK has been the subject of a number of research analyst reports. JPMorgan Chase & Co. lifted 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. Morgan Stanley raised their price objective on shares of Aramark from $35.00 to $38.00 and gave the company an “equal weight” rating in a research report on Monday, September 9th. Truist Financial boosted their target price 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. Deutsche Bank Aktiengesellschaft raised shares of Aramark from a “hold” rating to a “buy” rating and increased their price target for the company from $36.00 to $39.00 in a research note on Wednesday, August 7th. Finally, Robert W. Baird boosted their price objective on shares of Aramark from $37.00 to $38.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 7th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, Aramark has an average rating of “Moderate Buy” and a consensus target price of $38.95.

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.