Summit Investment Advisors Inc. Sells 1,281 Shares of Aramark (NYSE:ARMK)

by · The Markets Daily

Summit Investment Advisors Inc. trimmed its position in shares of Aramark (NYSE:ARMK – Free Report) by 2.4% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 52,768 shares of the company’s stock after selling 1,281 shares during the period. Summit Investment Advisors Inc.’s holdings in Aramark were worth $1,969,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. HighTower Advisors LLC lifted its stake in Aramark by 2.5% in the third quarter. HighTower Advisors LLC now owns 16,504 shares of the company’s stock worth $643,000 after purchasing an additional 395 shares during the last quarter. Barclays PLC lifted its stake in shares of Aramark by 57.6% in the 3rd quarter. Barclays PLC now owns 189,418 shares of the company’s stock valued at $7,336,000 after acquiring an additional 69,223 shares during the last quarter. M&T Bank Corp boosted its holdings in Aramark by 5.5% during the 3rd quarter. M&T Bank Corp now owns 16,206 shares of the company’s stock valued at $628,000 after acquiring an additional 838 shares during the period. Geode Capital Management LLC grew its position in Aramark by 1.1% during the 3rd quarter. Geode Capital Management LLC now owns 4,363,113 shares of the company’s stock worth $169,028,000 after acquiring an additional 45,384 shares during the last quarter. Finally, Sanctuary Advisors LLC purchased a new position in Aramark in the 3rd quarter worth approximately $309,000.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the stock. StockNews.com cut shares of Aramark from a “buy” rating to a “hold” rating in a report on Tuesday, January 7th. Royal Bank of Canada reissued an “outperform” rating and set a $47.00 price target on shares of Aramark in a research report on Thursday, February 6th. Citigroup began coverage on shares of Aramark in a research report on Monday, February 24th. They issued a “buy” rating and a $48.00 price objective on the stock. Finally, UBS Group dropped their target price on shares of Aramark from $45.00 to $40.00 and set a “buy” rating for the company in a report on Friday. Three equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat, Aramark has a consensus rating of “Moderate Buy” and a consensus price target of $43.08.

Get Our Latest Stock Report on ARMK

Aramark Stock Down 1.4 %

Shares of NYSE:ARMK opened at $32.66 on Tuesday. The firm has a market capitalization of $8.66 billion, a P/E ratio of 25.72 and a beta of 1.37. The company has a debt-to-equity ratio of 1.61, a quick ratio of 0.84 and a current ratio of 0.94. The stock has a 50 day moving average price of $35.24 and a 200-day moving average price of $37.48. Aramark has a 52-week low of $29.82 and a 52-week high of $42.49.

Aramark (NYSE:ARMK – Get Free Report) last posted its quarterly earnings data on Tuesday, February 4th. The company reported $0.51 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.48 by $0.03. Aramark had a return on equity of 14.72% and a net margin of 1.94%. The business had revenue of $4.55 billion during the quarter, compared to the consensus estimate of $4.61 billion. During the same quarter in the prior year, the company earned $0.41 earnings per share. The firm’s quarterly revenue was up 3.3% compared to the same quarter last year. As a group, equities research analysts anticipate that Aramark will post 1.92 EPS for the current fiscal year.

Aramark Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, February 24th. Investors 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 represents a $0.42 annualized dividend and a yield of 1.29%. This is a positive change from Aramark’s previous quarterly dividend of $0.00. Aramark’s payout ratio is presently 33.07%.

Aramark Profile

(Free Report)

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.

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