Corebridge Financial Inc. Sells 5,292 Shares of Aramark $ARMK

Corebridge Financial Inc. decreased its position in Aramark (NYSE:ARMK) by 1.8% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 292,797 shares of the company’s stock after selling 5,292 shares during the quarter. Corebridge Financial Inc. owned approximately 0.11% of Aramark worth $10,107,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Sumitomo Mitsui Trust Group Inc. raised its position in shares of Aramark by 1.7% in the first quarter. Sumitomo Mitsui Trust Group Inc. now owns 26,504 shares of the company’s stock valued at $915,000 after purchasing an additional 438 shares during the period. GAMMA Investing LLC raised its position in shares of Aramark by 48.1% in the first quarter. GAMMA Investing LLC now owns 6,364 shares of the company’s stock valued at $220,000 after purchasing an additional 2,067 shares during the period. Bessemer Group Inc. raised its position in shares of Aramark by 83.2% in the first quarter. Bessemer Group Inc. now owns 1,411 shares of the company’s stock valued at $49,000 after purchasing an additional 641 shares during the period. State of Alaska Department of Revenue raised its position in shares of Aramark by 3.4% in the first quarter. State of Alaska Department of Revenue now owns 31,055 shares of the company’s stock valued at $1,072,000 after purchasing an additional 1,020 shares during the period. Finally, Janney Montgomery Scott LLC raised its position in shares of Aramark by 553.3% in the first quarter. Janney Montgomery Scott LLC now owns 37,791 shares of the company’s stock valued at $1,305,000 after purchasing an additional 32,006 shares during the period.

Aramark Price Performance

Shares of Aramark stock opened at $39.52 on Thursday. The company has a debt-to-equity ratio of 2.03, a quick ratio of 1.14 and a current ratio of 1.29. The firm’s 50-day simple moving average is $41.61 and its 200-day simple moving average is $38.09. Aramark has a twelve month low of $29.92 and a twelve month high of $44.49. The firm has a market cap of $10.39 billion, a P/E ratio of 29.27 and a beta of 1.33.

Aramark (NYSE:ARMK) last issued its earnings results on Tuesday, August 5th. The company reported $0.40 earnings per share for the quarter, meeting the consensus estimate of $0.40. Aramark had a net margin of 2.02% and a return on equity of 15.67%. The business had revenue of $4.63 billion for the quarter, compared to analyst estimates of $4.66 billion. During the same period in the previous year, the business earned $0.31 EPS. The firm’s revenue was up 5.7% on a year-over-year basis. Aramark has set its FY 2025 guidance at 1.910-1.980 EPS. As a group, research analysts expect that Aramark will post 1.92 EPS for the current fiscal year.

Aramark Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, August 20th. Stockholders of record on Wednesday, August 6th were given a dividend of $0.105 per share. This represents a $0.42 annualized dividend and a dividend yield of 1.1%. Aramark’s dividend payout ratio (DPR) is currently 31.11%.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on ARMK. Royal Bank Of Canada restated an “outperform” rating and issued a $47.00 price objective on shares of Aramark in a research note on Wednesday, May 14th. Robert W. Baird upgraded shares of Aramark from a “neutral” rating to an “outperform” rating and raised their price objective for the stock from $43.00 to $47.00 in a research note on Wednesday, August 6th. Baird R W upgraded shares of Aramark from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, August 6th. UBS Group set a $46.00 price objective on shares of Aramark and gave the stock a “buy” rating in a research note on Wednesday, August 6th. Finally, Wall Street Zen downgraded shares of Aramark from a “buy” rating to a “hold” rating in a research note on Saturday, August 9th. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, Aramark presently has a consensus rating of “Buy” and a consensus price target of $45.44.

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.