iA Global Asset Management Inc. Trims Stock Holdings in Aramark (NYSE:ARMK)

iA Global Asset Management Inc. lessened its position in shares of Aramark (NYSE:ARMK) by 5.3% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 942,075 shares of the company’s stock after selling 53,204 shares during the quarter. iA Global Asset Management Inc. owned 0.36% of Aramark worth $32,049,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of ARMK. Industrial Alliance Investment Management Inc. boosted its position in Aramark by 3.3% in the first quarter. Industrial Alliance Investment Management Inc. now owns 10,660 shares of the company’s stock valued at $347,000 after buying an additional 340 shares during the last quarter. Twin Tree Management LP increased its stake in shares of Aramark by 32.0% in the first quarter. Twin Tree Management LP now owns 1,424 shares of the company’s stock worth $46,000 after acquiring an additional 345 shares during the period. Daiwa Securities Group Inc. raised its holdings in shares of Aramark by 2.3% during the first quarter. Daiwa Securities Group Inc. now owns 19,540 shares of the company’s stock worth $635,000 after purchasing an additional 432 shares during the last quarter. M&T Bank Corp lifted its position in Aramark by 5.7% during the fourth quarter. M&T Bank Corp now owns 8,129 shares of the company’s stock valued at $229,000 after purchasing an additional 442 shares during the period. Finally, New York Life Investment Management LLC boosted its holdings in Aramark by 1.7% in the fourth quarter. New York Life Investment Management LLC now owns 28,127 shares of the company’s stock valued at $790,000 after purchasing an additional 462 shares during the last quarter.

Aramark Trading Up 1.5 %

Shares of ARMK traded up $0.55 during midday trading on Friday, reaching $36.63. The company had a trading volume of 1,556,852 shares, compared to its average volume of 2,270,325. The firm has a 50 day simple moving average of $34.13 and a 200-day simple moving average of $32.70. The company has a quick ratio of 1.11, a current ratio of 1.25 and a debt-to-equity ratio of 2.03. The stock has a market cap of $9.63 billion, a PE ratio of 15.39, a price-to-earnings-growth ratio of 1.77 and a beta of 1.59. Aramark has a 1-year low of $23.95 and a 1-year high of $36.68.

Aramark (NYSE:ARMK) last issued its earnings results on Tuesday, August 6th. The company reported $0.31 EPS for the quarter, topping analysts’ consensus estimates of $0.30 by $0.01. The company had revenue of $4.38 billion for the quarter, compared to the consensus estimate of $4.31 billion. Aramark had a net margin of 3.43% and a return on equity of 13.82%. Aramark’s quarterly revenue was up 8.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.36 earnings per share. Research analysts forecast that Aramark will post 1.57 EPS for the current fiscal year.

Aramark Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 3rd. Stockholders of record on Monday, August 19th will be given a dividend of $0.095 per share. This represents a $0.38 dividend on an annualized basis and a dividend yield of 1.04%. The ex-dividend date is Monday, August 19th. Aramark’s dividend payout ratio is presently 15.97%.

Analyst Ratings Changes

A number of equities analysts have weighed in on ARMK shares. Royal Bank of Canada lifted their price objective on Aramark from $33.00 to $36.00 and gave the company a “sector perform” rating in a research note on Wednesday, August 7th. JPMorgan Chase & Co. boosted their price target on Aramark from $35.00 to $39.00 and gave the company an “overweight” rating in a report on Wednesday, August 7th. Deutsche Bank Aktiengesellschaft raised shares of Aramark from a “hold” rating to a “buy” rating and raised their price objective for the stock from $36.00 to $39.00 in a research note on Wednesday, August 7th. Truist Financial downgraded shares of Aramark from a “strong-buy” rating to a “hold” rating in a report on Wednesday, August 7th. Finally, Robert W. Baird lifted their price objective on shares of Aramark from $37.00 to $38.00 and gave the company a “neutral” rating in a report on Wednesday, August 7th. Five investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $35.82.

Aramark 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.