OLD National Bancorp IN Purchases Shares of 8,527 Aramark (NYSE:ARMK)

OLD National Bancorp IN purchased a new stake in Aramark (NYSE:ARMK) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 8,527 shares of the company’s stock, valued at approximately $240,000.

A number of other hedge funds have also recently bought and sold shares of ARMK. JPMorgan Chase & Co. grew its stake in Aramark by 60.3% in the third quarter. JPMorgan Chase & Co. now owns 3,969,594 shares of the company’s stock valued at $137,745,000 after purchasing an additional 1,492,542 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund lifted its position in shares of Aramark by 454.2% in the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 798,367 shares of the company’s stock valued at $27,703,000 after buying an additional 654,300 shares during the last quarter. Invesco Ltd. lifted its position in shares of Aramark by 82.6% in the third quarter. Invesco Ltd. now owns 961,603 shares of the company’s stock valued at $33,368,000 after buying an additional 434,842 shares during the last quarter. Schonfeld Strategic Advisors LLC lifted its position in shares of Aramark by 188.8% in the third quarter. Schonfeld Strategic Advisors LLC now owns 453,565 shares of the company’s stock valued at $15,739,000 after buying an additional 296,493 shares during the last quarter. Finally, Mirabella Financial Services LLP acquired a new stake in shares of Aramark in the third quarter valued at approximately $9,845,000.

Aramark Price Performance

Shares of NYSE ARMK opened at $32.34 on Friday. The stock has a market capitalization of $8.49 billion, a PE ratio of 13.53, a P/E/G ratio of 1.29 and a beta of 1.48. The company has a debt-to-equity ratio of 2.08, a current ratio of 1.27 and a quick ratio of 1.12. The business has a fifty day moving average price of $31.53 and a two-hundred day moving average price of $29.19. Aramark has a fifty-two week low of $23.95 and a fifty-two week high of $33.04.

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

Aramark Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, February 28th. Stockholders of record on Wednesday, February 14th were paid a $0.095 dividend. The ex-dividend date was Tuesday, February 13th. This represents a $0.38 annualized dividend and a dividend yield of 1.18%. Aramark’s payout ratio is 15.90%.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the company. Truist Financial raised 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. Morgan Stanley raised their price objective on Aramark from $28.00 to $30.00 and gave the company an “equal weight” rating in a research report 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 objective for the company. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $33.00 price objective on shares of Aramark in a research report on Wednesday, February 7th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $33.04.

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.