Amalgamated Bank Decreases Stock Holdings in Aramark (NYSE:ARMK)

Amalgamated Bank lessened its stake in shares of Aramark (NYSE:ARMK) by 10.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 164,497 shares of the company’s stock after selling 18,826 shares during the quarter. Amalgamated Bank’s holdings in Aramark were worth $4,622,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. New York Life Investment Management LLC lifted its holdings in shares of Aramark by 112.2% during the 3rd quarter. New York Life Investment Management LLC now owns 27,665 shares of the company’s stock valued at $960,000 after buying an additional 14,628 shares during the period. New York State Teachers Retirement System lifted its holdings in Aramark by 24.1% in the fourth quarter. New York State Teachers Retirement System now owns 141,849 shares of the company’s stock valued at $3,986,000 after acquiring an additional 27,522 shares during the period. Nordea Investment Management AB boosted its position in Aramark by 121.0% in the fourth quarter. Nordea Investment Management AB now owns 368,303 shares of the company’s stock worth $10,268,000 after purchasing an additional 201,623 shares during the last quarter. Envestnet Asset Management Inc. grew its stake in shares of Aramark by 451.3% during the 3rd quarter. Envestnet Asset Management Inc. now owns 107,062 shares of the company’s stock valued at $3,715,000 after purchasing an additional 87,641 shares during the period. Finally, CenterBook Partners LP lifted its stake in shares of Aramark by 143.8% in the 3rd quarter. CenterBook Partners LP now owns 90,635 shares of the company’s stock worth $3,145,000 after purchasing an additional 53,463 shares during the period.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on ARMK shares. Royal Bank of Canada reiterated a “sector perform” rating and set a $33.00 price target on shares of Aramark in a research note on Wednesday, February 7th. The Goldman Sachs Group assumed coverage on Aramark in a research report on Wednesday, January 17th. They issued a “buy” rating and a $33.00 price target for the company. Truist Financial lifted their price objective on Aramark from $35.00 to $37.00 and gave the company a “buy” rating in a research report on Wednesday, March 20th. Finally, Morgan Stanley raised their target price on shares of Aramark from $28.00 to $30.00 and gave the stock an “equal weight” rating in a research note on Wednesday, February 7th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and ten have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $33.04.

Aramark Price Performance

ARMK opened at $30.75 on Wednesday. The company has a current ratio of 1.27, a quick ratio of 1.12 and a debt-to-equity ratio of 2.08. The business’s fifty day simple moving average is $31.64 and its 200-day simple moving average is $29.54. The company has a market capitalization of $8.07 billion, a price-to-earnings ratio of 12.87, a PEG ratio of 1.24 and a beta of 1.47. Aramark has a 12-month low of $23.95 and a 12-month high of $33.04.

Aramark (NYSE:ARMK) last posted its earnings results on Tuesday, February 6th. The company reported $0.41 EPS for the quarter, beating analysts’ consensus estimates of $0.36 by $0.05. Aramark had a net margin of 3.37% and a return on equity of 13.45%. The business had revenue of $4.41 billion for the quarter, compared to the consensus estimate of $4.29 billion. During the same quarter last year, the firm posted $0.41 EPS. The company’s revenue for the quarter was up 12.6% on a year-over-year basis. On average, equities research analysts anticipate that Aramark will post 1.56 earnings per share for the current fiscal year.

Aramark Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 28th. Investors of record on Monday, May 13th will be issued a dividend of $0.095 per share. This represents a $0.38 annualized dividend and a yield of 1.24%. The ex-dividend date is Friday, May 10th. Aramark’s payout ratio is 15.90%.

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.