Corient Private Wealth LLC Has $340,000 Position in Aramark (NYSE:ARMK)

Corient Private Wealth LLC trimmed its stake in shares of Aramark (NYSE:ARMK) by 25.0% in the fourth quarter, HoldingsChannel reports. The firm owned 9,102 shares of the company’s stock after selling 3,026 shares during the quarter. Corient Private Wealth LLC’s holdings in Aramark were worth $340,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Jones Financial Companies Lllp lifted its stake in shares of Aramark by 45.7% during the 4th quarter. Jones Financial Companies Lllp now owns 988 shares of the company’s stock worth $37,000 after buying an additional 310 shares during the last quarter. UMB Bank n.a. grew its stake in Aramark by 75.2% in the 4th quarter. UMB Bank n.a. now owns 1,354 shares of the company’s stock valued at $51,000 after buying an additional 581 shares during the last quarter. Global Retirement Partners LLC raised its holdings in Aramark by 167.2% in the 4th quarter. Global Retirement Partners LLC now owns 1,424 shares of the company’s stock valued at $53,000 after acquiring an additional 891 shares during the period. Wealthfront Advisers LLC acquired a new stake in Aramark during the fourth quarter worth approximately $83,000. Finally, Quarry LP boosted its holdings in shares of Aramark by 1,322.0% during the third quarter. Quarry LP now owns 2,972 shares of the company’s stock worth $115,000 after acquiring an additional 2,763 shares during the period.

Aramark Trading Down 0.6 %

ARMK opened at $34.16 on Monday. The stock has a market capitalization of $9.06 billion, a price-to-earnings ratio of 26.90 and a beta of 1.60. The company has a quick ratio of 0.84, a current ratio of 0.94 and a debt-to-equity ratio of 1.61. Aramark has a twelve month low of $29.82 and a twelve month high of $42.49. The company has a 50-day simple moving average of $36.76 and a 200 day simple moving average of $37.95.

Aramark (NYSE:ARMK) last issued its earnings results on Tuesday, February 4th. The company reported $0.51 EPS for the quarter, beating the consensus estimate of $0.48 by $0.03. The company had revenue of $4.55 billion during the quarter, compared to analysts’ expectations of $4.61 billion. Aramark had a net margin of 1.94% and a return on equity of 14.72%. The business’s revenue for the quarter was up 3.3% compared to the same quarter last year. During the same period in the previous year, the company earned $0.41 EPS. Analysts predict that Aramark will post 1.92 EPS for the current fiscal year.

Aramark Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, February 24th. Shareholders of record on Monday, February 10th were paid a dividend of $0.105 per share. The ex-dividend date of this dividend was Monday, February 10th. This is a boost from Aramark’s previous quarterly dividend of $0.00. This represents a $0.42 annualized dividend and a yield of 1.23%. Aramark’s dividend payout ratio is presently 33.07%.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on ARMK shares. StockNews.com lowered Aramark from a “buy” rating to a “hold” rating in a research note on Tuesday, January 7th. Royal Bank of Canada reiterated an “outperform” rating and set a $47.00 price objective on shares of Aramark in a research report on Thursday, February 6th. Morgan Stanley lifted their target price on Aramark from $40.00 to $43.00 and gave the stock an “equal weight” rating in a report on Thursday, December 12th. Robert W. Baird upped their price target on shares of Aramark from $44.00 to $45.00 and gave the company a “neutral” rating in a research note on Thursday, December 12th. Finally, Citigroup assumed coverage on shares of Aramark in a research note on Monday, February 24th. They issued a “buy” rating and a $48.00 price objective for the company. Three research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $43.42.

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.