Palisade Capital Management LLC NJ acquired a new stake in shares of Aramark (NYSE:ARMK – Get Rating) during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 7,447 shares of the company’s stock, valued at approximately $280,000.
A number of other hedge funds have also made changes to their positions in ARMK. Column Capital Advisors LLC grew its position in Aramark by 6.2% in the fourth quarter. Column Capital Advisors LLC now owns 4,807 shares of the company’s stock worth $177,000 after buying an additional 282 shares during the last quarter. DekaBank Deutsche Girozentrale grew its position in Aramark by 1.5% in the first quarter. DekaBank Deutsche Girozentrale now owns 21,262 shares of the company’s stock worth $820,000 after buying an additional 312 shares during the last quarter. Deseret Mutual Benefit Administrators grew its position in Aramark by 15.2% in the fourth quarter. Deseret Mutual Benefit Administrators now owns 2,569 shares of the company’s stock worth $95,000 after buying an additional 339 shares during the last quarter. CWM LLC grew its position in Aramark by 108.4% in the first quarter. CWM LLC now owns 667 shares of the company’s stock worth $25,000 after buying an additional 347 shares during the last quarter. Finally, Daiwa Securities Group Inc. grew its position in Aramark by 1.2% in the first quarter. Daiwa Securities Group Inc. now owns 30,777 shares of the company’s stock worth $1,158,000 after buying an additional 350 shares during the last quarter.
Wall Street Analyst Weigh In
Separately, Morgan Stanley decreased their price objective on shares of Aramark from $37.00 to $35.00 and set an “equal weight” rating for the company in a research note on Wednesday, July 20th. One analyst has rated the stock with a sell rating, five have given a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, Aramark has an average rating of “Hold” and an average price target of $38.71.
Aramark Stock Up 0.3 %
Aramark (NYSE:ARMK – Get Rating) last released its quarterly earnings data on Tuesday, May 10th. The company reported $0.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.21 by $0.01. Aramark had a net margin of 1.02% and a return on equity of 6.43%. The business had revenue of $3.86 billion during the quarter, compared to analyst estimates of $3.78 billion. During the same quarter in the previous year, the business earned ($0.24) EPS. Aramark’s quarterly revenue was up 36.9% compared to the same quarter last year. Sell-side analysts anticipate that Aramark will post 1.15 EPS for the current fiscal year.
Aramark Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Tuesday, August 30th. Investors of record on Wednesday, August 17th will be issued a $0.11 dividend. The ex-dividend date of this dividend is Tuesday, August 16th. This represents a $0.44 annualized dividend and a yield of 1.25%. Aramark’s dividend payout ratio (DPR) is presently 75.86%.
Aramark provides food, facilities, and uniform services to education, healthcare, business and industry, sports, leisure, and corrections clients in the United States and internationally. It operates through three segments: Food and Support Services United States, Food and Support Services International, and Uniform and Career Apparel.
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