Sendero Wealth Management LLC Buys 5,911 Shares of Aramark (NYSE:ARMK)

Sendero Wealth Management LLC grew its stake in shares of Aramark (NYSE:ARMK) by 35.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 22,611 shares of the company’s stock after buying an additional 5,911 shares during the period. Sendero Wealth Management LLC’s holdings in Aramark were worth $844,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. CIBC Asset Management Inc raised its position in shares of Aramark by 3.6% in the 3rd quarter. CIBC Asset Management Inc now owns 7,621 shares of the company’s stock valued at $295,000 after acquiring an additional 265 shares during the period. Bradley Foster & Sargent Inc. CT increased its stake in Aramark by 0.4% in the second quarter. Bradley Foster & Sargent Inc. CT now owns 69,987 shares of the company’s stock valued at $2,381,000 after purchasing an additional 310 shares in the last quarter. Huntington National Bank raised its holdings in Aramark by 100.3% in the third quarter. Huntington National Bank now owns 681 shares of the company’s stock worth $26,000 after purchasing an additional 341 shares during the period. Cadent Capital Advisors LLC raised its holdings in Aramark by 4.7% in the third quarter. Cadent Capital Advisors LLC now owns 7,711 shares of the company’s stock worth $299,000 after purchasing an additional 349 shares during the period. Finally, HighTower Advisors LLC boosted its position in shares of Aramark by 2.5% during the third quarter. HighTower Advisors LLC now owns 16,504 shares of the company’s stock worth $643,000 after purchasing an additional 395 shares in the last quarter.

Aramark Price Performance

Shares of ARMK opened at $39.31 on Thursday. The company has a quick ratio of 0.72, a current ratio of 0.81 and a debt-to-equity ratio of 1.42. Aramark has a twelve month low of $28.30 and a twelve month high of $42.49. The stock has a market capitalization of $10.41 billion, a P/E ratio of 39.71 and a beta of 1.64. The company has a 50 day moving average of $38.82 and a 200-day moving average of $37.10.

Aramark (NYSE:ARMK) last released its earnings results on Monday, November 11th. The company reported $0.54 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.54. Aramark had a net margin of 1.51% and a return on equity of 14.06%. The business had revenue of $4.42 billion during the quarter, compared to the consensus estimate of $4.46 billion. During the same quarter last year, the firm earned $0.64 earnings per share. The firm’s revenue for the quarter was up 5.2% compared to the same quarter last year. As a group, equities research analysts forecast that Aramark will post 1.92 EPS for the current fiscal year.

Aramark Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, December 12th. Investors of record on Monday, December 2nd were given a $0.001 dividend. This represents a $0.00 dividend on an annualized basis and a dividend yield of 0.01%. The ex-dividend date was Monday, December 2nd. Aramark’s dividend payout ratio is currently 42.42%.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the company. Morgan Stanley raised their price objective on Aramark from $40.00 to $43.00 and gave the stock an “equal weight” rating in a research note on Thursday, December 12th. Stifel Nicolaus raised their price target on Aramark from $43.00 to $45.00 and gave the stock a “buy” rating in a research report on Tuesday, November 12th. StockNews.com lowered Aramark from a “buy” rating to a “hold” rating in a research report on Tuesday, January 7th. Robert W. Baird raised their target price on shares of Aramark from $44.00 to $45.00 and gave the stock a “neutral” rating in a report on Thursday, December 12th. Finally, Truist Financial lifted their price target on shares of Aramark from $42.00 to $46.00 and gave the company a “buy” rating in a research note on Tuesday, November 12th. Three research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, Aramark presently has a consensus rating of “Moderate Buy” and an average price target of $42.59.

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.