Aramark (NYSE:ARMK) Stock Position Reduced by New York Life Investment Management LLC

New York Life Investment Management LLC lessened its position in shares of Aramark (NYSE:ARMK) by 7.2% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 26,534 shares of the company’s stock after selling 2,055 shares during the period. New York Life Investment Management LLC’s holdings in Aramark were worth $990,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the stock. CIBC Asset Management Inc increased its position in 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. Oregon Public Employees Retirement Fund increased its position in shares of Aramark by 0.5% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 53,654 shares of the company’s stock valued at $2,002,000 after purchasing an additional 276 shares during the period. Huntington National Bank increased its position in shares of Aramark by 100.3% during the 3rd quarter. Huntington National Bank now owns 681 shares of the company’s stock valued at $26,000 after purchasing an additional 341 shares during the period. HighTower Advisors LLC increased its position in shares of Aramark by 2.5% during the 3rd quarter. HighTower Advisors LLC now owns 16,504 shares of the company’s stock valued at $643,000 after purchasing an additional 395 shares during the period. Finally, Amalgamated Bank increased its position in shares of Aramark by 0.4% during the 4th quarter. Amalgamated Bank now owns 126,029 shares of the company’s stock valued at $4,702,000 after purchasing an additional 447 shares during the period.

Wall Street Analysts Forecast Growth

ARMK has been the topic of several research analyst reports. Truist Financial lifted their price target on Aramark from $42.00 to $46.00 and gave the company a “buy” rating in a research report on Tuesday, November 12th. Morgan Stanley lifted their price target on Aramark from $40.00 to $43.00 and gave the company an “equal weight” rating in a research report on Thursday, December 12th. Robert W. Baird lifted their target price on Aramark from $44.00 to $45.00 and gave the stock a “neutral” rating in a report on Thursday, December 12th. Royal Bank of Canada restated an “outperform” rating and issued a $47.00 target price on shares of Aramark in a report on Thursday, February 6th. Finally, StockNews.com cut Aramark from a “buy” rating to a “hold” rating in a report on Tuesday, January 7th. Three equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $43.42.

Aramark Stock Performance

Shares of Aramark stock opened at $36.02 on Tuesday. The stock has a market cap of $9.55 billion, a PE ratio of 28.36 and a beta of 1.64. The business has a fifty day simple moving average of $37.76 and a 200-day simple moving average of $38.13. The company has a quick ratio of 0.84, a current ratio of 0.94 and a debt-to-equity ratio of 1.61. Aramark has a 12 month low of $29.82 and a 12 month 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. The business had revenue of $4.55 billion during the quarter, compared to analysts’ expectations of $4.61 billion. Aramark had a return on equity of 14.72% and a net margin of 1.94%. Aramark’s revenue was up 3.3% compared to the same quarter last year. During the same quarter last year, the firm posted $0.41 earnings per share. On average, sell-side analysts anticipate that Aramark will post 1.92 EPS for the current fiscal year.

Aramark Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, February 24th. Investors of record on Monday, February 10th were given a dividend of $0.105 per share. This is a boost from Aramark’s previous quarterly dividend of $0.00. The ex-dividend date of this dividend was Monday, February 10th. This represents a $0.42 dividend on an annualized basis and a yield of 1.17%. Aramark’s dividend payout ratio (DPR) is presently 33.07%.

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.