Aramark (NYSE:ARMK) Shares Purchased by Massachusetts Financial Services Co. MA

Massachusetts Financial Services Co. MA boosted its holdings in Aramark (NYSE:ARMKFree Report) by 0.1% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 3,902,149 shares of the company’s stock after acquiring an additional 4,966 shares during the period. Massachusetts Financial Services Co. MA owned 1.49% of Aramark worth $135,405,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in ARMK. Raymond James Financial Services Advisors Inc. raised its stake in shares of Aramark by 31.9% in the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 8,279 shares of the company’s stock valued at $311,000 after acquiring an additional 2,002 shares during the period. American Century Companies Inc. boosted its position in shares of Aramark by 17.0% during the first quarter. American Century Companies Inc. now owns 9,139 shares of the company’s stock worth $344,000 after buying an additional 1,325 shares during the period. PNC Financial Services Group Inc. grew its stake in shares of Aramark by 35.9% in the first quarter. PNC Financial Services Group Inc. now owns 1,693 shares of the company’s stock valued at $64,000 after buying an additional 447 shares in the last quarter. MetLife Investment Management LLC purchased a new stake in shares of Aramark in the 1st quarter valued at $174,000. Finally, BlackRock Inc. lifted its stake in Aramark by 1.7% during the 1st quarter. BlackRock Inc. now owns 11,897,847 shares of the company’s stock worth $447,358,000 after acquiring an additional 198,530 shares in the last quarter.

Insider Buying and Selling at Aramark

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

Aramark Price Performance

Shares of NYSE ARMK opened at $29.31 on Wednesday. The stock has a market cap of $7.69 billion, a P/E ratio of 11.45, a P/E/G ratio of 1.25 and a beta of 1.47. Aramark has a twelve month low of $23.55 and a twelve month high of $31.94. The stock has a 50 day moving average of $28.23 and a two-hundred day moving average of $31.19. The company has a current ratio of 1.04, a quick ratio of 0.92 and a debt-to-equity ratio of 1.80.

Aramark (NYSE:ARMKGet Free Report) last issued its quarterly earnings results on Tuesday, November 14th. The company reported $0.64 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.64. The firm had revenue of $4.90 billion during the quarter, compared to analysts’ expectations of $4.79 billion. Aramark had a net margin of 3.58% and a return on equity of 13.13%. Aramark’s quarterly revenue was up 11.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.48 EPS. On average, research analysts forecast that Aramark will post 1.5 earnings per share for the current year.

Aramark Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 28th. Shareholders of record on Wednesday, February 14th will be given a dividend of $0.095 per share. The ex-dividend date of this dividend is Tuesday, February 13th. This represents a $0.38 dividend on an annualized basis and a yield of 1.30%. Aramark’s payout ratio is 14.84%.

Analysts Set New Price Targets

A number of analysts have issued reports on ARMK shares. Truist Financial started coverage on shares of Aramark in a research note on Monday, January 8th. They set a “buy” rating and a $33.00 price target on the stock. Citigroup boosted their price target on shares of Aramark from $33.93 to $36.50 and gave the stock a “buy” rating in a research note on Tuesday, October 10th. JPMorgan Chase & Co. reduced their price objective on Aramark from $47.00 to $35.00 and set an “overweight” rating on the stock in a research note on Monday, October 16th. The Goldman Sachs Group assumed coverage on Aramark in a research note on Wednesday, January 17th. They set a “buy” rating and a $33.00 target price for the company. Finally, StockNews.com assumed coverage on Aramark in a research report on Thursday, December 7th. They issued a “hold” rating on the stock. One analyst has rated the stock with a sell rating, four have assigned a hold rating and ten have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $34.30.

View Our Latest Report on Aramark

About Aramark

(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.

See Also

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Institutional Ownership by Quarter for Aramark (NYSE:ARMK)

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