Aramark (NYSE:ARMK) Shares Down 1.2% – What’s Next?

Aramark (NYSE:ARMK)’s share price fell 1.2% on Monday . The company traded as low as $37.31 and last traded at $37.54. 259,871 shares were traded during trading, a decline of 87% from the average session volume of 1,972,906 shares. The stock had previously closed at $37.99.

Wall Street Analyst Weigh In

ARMK has been the topic of a number of research analyst reports. The Goldman Sachs Group boosted their target price on Aramark from $38.00 to $41.00 and gave the stock a “buy” rating in a research report on Wednesday, October 16th. Truist Financial lifted their price objective on Aramark from $42.00 to $46.00 and gave the stock a “buy” rating in a research note on Tuesday, November 12th. Royal Bank of Canada restated an “outperform” rating and issued a $47.00 price target on shares of Aramark in a research report on Thursday, February 6th. Stifel Nicolaus increased their price objective on shares of Aramark from $43.00 to $45.00 and gave the company a “buy” rating in a research report on Tuesday, November 12th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Aramark from $41.00 to $45.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 12th. Three research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $43.00.

Aramark Stock Up 1.2 %

The firm has a market cap of $10.05 billion, a PE ratio of 29.84 and a beta of 1.64. The company has a 50-day simple moving average of $38.45 and a 200-day simple moving average of $37.86. The company has a debt-to-equity ratio of 1.61, a current ratio of 0.94 and a quick ratio of 0.72.

Aramark (NYSE:ARMK) last announced its quarterly earnings results on Tuesday, February 4th. The company reported $0.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.48 by $0.03. Aramark had a return on equity of 14.72% and a net margin of 1.94%. The firm had revenue of $4.55 billion during the quarter, compared to analyst estimates of $4.61 billion. During the same quarter in the previous year, the business earned $0.41 earnings per share. Aramark’s quarterly revenue was up 3.3% on a year-over-year basis. Analysts expect that Aramark will post 1.92 earnings per share for the current fiscal year.

Aramark Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, February 24th. Shareholders of record on Monday, February 10th will be issued a dividend of $0.105 per share. This represents a $0.42 annualized dividend and a yield of 1.11%. This is a boost from Aramark’s previous quarterly dividend of $0.00. The ex-dividend date is Monday, February 10th. Aramark’s dividend payout ratio is presently 33.07%.

Institutional Investors Weigh In On Aramark

Several large investors have recently modified their holdings of ARMK. Huntington National Bank boosted its position in Aramark by 100.3% during the third quarter. Huntington National Bank now owns 681 shares of the company’s stock valued at $26,000 after purchasing an additional 341 shares in the last quarter. Capital Performance Advisors LLP purchased a new stake in shares of Aramark during the third quarter valued at about $28,000. UMB Bank n.a. boosted its holdings in shares of Aramark by 360.1% in the 3rd quarter. UMB Bank n.a. now owns 773 shares of the company’s stock valued at $30,000 after buying an additional 605 shares in the last quarter. Jones Financial Companies Lllp grew its position in shares of Aramark by 45.7% in the 4th quarter. Jones Financial Companies Lllp now owns 988 shares of the company’s stock worth $37,000 after buying an additional 310 shares during the last quarter. Finally, Friedenthal Financial bought a new position in shares of Aramark during the 3rd quarter worth approximately $52,000.

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.