Allspring Global Investments Holdings LLC Has $126,000 Stock Holdings in Aramark (NYSE:ARMK)

Allspring Global Investments Holdings LLC decreased its position in Aramark (NYSE:ARMK) by 73.7% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 4,467 shares of the company’s stock after selling 12,506 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Aramark were worth $126,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the company. Treasurer of the State of North Carolina raised its stake in shares of Aramark by 0.4% in the third quarter. Treasurer of the State of North Carolina now owns 106,146 shares of the company’s stock valued at $3,683,000 after acquiring an additional 420 shares during the last quarter. CIBC Asset Management Inc boosted its stake in Aramark by 5.2% in the third quarter. CIBC Asset Management Inc now owns 9,099 shares of the company’s stock worth $316,000 after purchasing an additional 447 shares in the last quarter. CWM LLC grew its holdings in shares of Aramark by 67.0% during the third quarter. CWM LLC now owns 1,196 shares of the company’s stock worth $42,000 after purchasing an additional 480 shares during the last quarter. Korea Investment CORP increased its stake in shares of Aramark by 1.0% in the third quarter. Korea Investment CORP now owns 53,458 shares of the company’s stock valued at $1,855,000 after buying an additional 546 shares in the last quarter. Finally, Fifth Third Bancorp raised its holdings in shares of Aramark by 82.7% in the fourth quarter. Fifth Third Bancorp now owns 1,873 shares of the company’s stock valued at $53,000 after buying an additional 848 shares during the last quarter.

Aramark Trading Up 0.1 %

NYSE ARMK opened at $32.35 on Monday. Aramark has a 12 month low of $23.95 and a 12 month high of $33.04. The stock has a 50-day simple moving average of $31.56 and a 200 day simple moving average of $29.29. The company has a current ratio of 1.27, a quick ratio of 1.12 and a debt-to-equity ratio of 2.08. The company has a market capitalization of $8.49 billion, a PE ratio of 13.54, a P/E/G ratio of 1.30 and a beta of 1.48.

Aramark (NYSE:ARMK) last posted its earnings results on Tuesday, February 6th. The company reported $0.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.36 by $0.05. Aramark had a return on equity of 13.45% and a net margin of 3.37%. The company had revenue of $4.41 billion during the quarter, compared to analyst estimates of $4.29 billion. During the same period in the previous year, the company earned $0.41 EPS. The company’s revenue for the quarter was up 12.6% compared to the same quarter last year. Research analysts forecast that Aramark will post 1.56 EPS for the current year.

Aramark Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, February 28th. Stockholders of record on Wednesday, February 14th were given a dividend of $0.095 per share. The ex-dividend date was Tuesday, February 13th. This represents a $0.38 dividend on an annualized basis and a dividend yield of 1.17%. Aramark’s dividend payout ratio is 15.90%.

Wall Street Analyst Weigh In

A number of brokerages have commented on ARMK. Truist Financial increased their price objective on shares of Aramark from $35.00 to $37.00 and gave the stock a “buy” rating in a report on Wednesday, March 20th. Royal Bank of Canada reissued a “sector perform” rating and issued a $33.00 price target on shares of Aramark in a report on Wednesday, February 7th. The Goldman Sachs Group assumed coverage on Aramark in a report on Wednesday, January 17th. They set a “buy” rating and a $33.00 price objective on the stock. Finally, Morgan Stanley lifted their target price on Aramark from $28.00 to $30.00 and gave the company an “equal weight” rating in a research note on Wednesday, February 7th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $33.04.

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.