Amalgamated Bank Has $4.62 Million Stake in Aramark (NYSE:ARMK)

Amalgamated Bank lessened its holdings in Aramark (NYSE:ARMK) by 10.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 164,497 shares of the company’s stock after selling 18,826 shares during the period. Amalgamated Bank owned about 0.06% of Aramark worth $4,622,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. New York Life Investment Management LLC boosted its stake 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 stake in shares of Aramark by 24.1% in the fourth quarter. New York State Teachers Retirement System now owns 141,849 shares of the company’s stock worth $3,986,000 after buying an additional 27,522 shares during the last quarter. Nordea Investment Management AB boosted its holdings in shares of Aramark by 121.0% during the 4th quarter. Nordea Investment Management AB now owns 368,303 shares of the company’s stock worth $10,268,000 after buying an additional 201,623 shares during the period. Envestnet Asset Management Inc. raised its holdings in Aramark by 451.3% in the 3rd quarter. Envestnet Asset Management Inc. now owns 107,062 shares of the company’s stock worth $3,715,000 after acquiring an additional 87,641 shares during the period. Finally, CenterBook Partners LP lifted its position in Aramark by 143.8% during the 3rd quarter. CenterBook Partners LP now owns 90,635 shares of the company’s stock worth $3,145,000 after acquiring an additional 53,463 shares during the last quarter.

Wall Street Analyst Weigh In

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

Aramark Price Performance

Shares of Aramark stock opened at $30.75 on Wednesday. Aramark has a twelve month low of $23.95 and a twelve month high of $33.04. The company has a 50-day simple moving average of $31.64 and a two-hundred day simple moving average of $29.54. The stock has a market capitalization of $8.07 billion, a price-to-earnings ratio of 12.87, a price-to-earnings-growth ratio of 1.24 and a beta of 1.47. The company has a quick ratio of 1.12, a current ratio of 1.27 and a debt-to-equity ratio of 2.08.

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

Aramark Announces Dividend

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

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.