Short Interest in Aramark (NYSE:ARMK) Drops By 33.0%

Aramark (NYSE:ARMKGet Free Report) saw a significant decrease in short interest in January. As of January 31st, there was short interest totalling 4,690,000 shares, a decrease of 33.0% from the January 15th total of 7,000,000 shares. Based on an average daily trading volume, of 3,110,000 shares, the short-interest ratio is presently 1.5 days.

Insider Transactions at Aramark

In other Aramark news, COO Marc A. Bruno sold 27,884 shares of the company’s stock in a transaction on Wednesday, December 13th. The shares were sold at an average price of $26.67, for a total transaction of $743,666.28. Following the sale, the chief operating officer now owns 225,653 shares of the company’s stock, valued at $6,018,165.51. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 1.92% of the company’s stock.

Institutional Trading of Aramark

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. New York Life Investment Management LLC boosted its holdings in shares of Aramark by 112.2% in the 3rd quarter. New York Life Investment Management LLC now owns 27,665 shares of the company’s stock worth $960,000 after acquiring an additional 14,628 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its stake in Aramark by 7.4% in the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 125,975 shares of the company’s stock worth $5,423,000 after purchasing an additional 8,639 shares during the period. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. boosted its stake in Aramark by 34.1% in the 3rd quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 112,505 shares of the company’s stock worth $3,904,000 after purchasing an additional 28,619 shares during the period. Duality Advisers LP acquired a new position in shares of Aramark during the 3rd quarter worth about $4,651,000. Finally, Shikiar Asset Management Inc. bought a new stake in shares of Aramark in the 3rd quarter valued at about $4,137,000.

Aramark Stock Performance

Shares of ARMK opened at $31.01 on Tuesday. The company has a quick ratio of 1.12, a current ratio of 1.27 and a debt-to-equity ratio of 2.08. The firm has a market cap of $8.14 billion, a price-to-earnings ratio of 12.97, a PEG ratio of 1.23 and a beta of 1.47. Aramark has a 52-week low of $23.55 and a 52-week high of $31.94. The business’s 50 day moving average is $28.32 and its two-hundred day moving average is $30.93.

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

Aramark Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 28th. Stockholders of record on Wednesday, February 14th will be issued a dividend of $0.095 per share. This represents a $0.38 dividend on an annualized basis and a dividend yield of 1.23%. The ex-dividend date is Tuesday, February 13th. Aramark’s dividend payout ratio is 15.90%.

Analyst Ratings Changes

Several brokerages have commented on ARMK. Truist Financial raised their price target on shares of Aramark from $33.00 to $35.00 and gave the company a “buy” rating in a report on Wednesday, February 7th. Stifel Nicolaus decreased their price objective on shares of Aramark from $45.00 to $33.00 and set a “buy” rating for the company in a report on Tuesday, November 7th. The Goldman Sachs Group assumed coverage on shares of Aramark in a report on Wednesday, January 17th. They set a “buy” rating and a $33.00 target price for the company. JPMorgan Chase & Co. reduced their price objective on shares of Aramark from $47.00 to $35.00 and set an “overweight” rating for the company in a research note on Monday, October 16th. Finally, Royal Bank of Canada restated a “sector perform” rating and set a $33.00 target price on shares of Aramark in a research report on Wednesday, February 7th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $33.32.

Check Out Our Latest Stock Report on ARMK

About Aramark

(Get Free Report)

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.

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