Highlander Capital Management LLC grew its holdings in shares of Aramark (NYSE:ARMK – Get Rating) by 4.9% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 28,100 shares of the company’s stock after buying an additional 1,300 shares during the quarter. Highlander Capital Management LLC’s holdings in Aramark were worth $1,057,000 at the end of the most recent reporting period.
Other large investors also recently modified their holdings of the company. CWM LLC boosted its stake in shares of Aramark by 108.4% during the 1st 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. Allworth Financial LP acquired a new position in shares of Aramark during the 1st quarter worth about $28,000. First Horizon Advisors Inc. boosted its stake in shares of Aramark by 88.7% during the 4th quarter. First Horizon Advisors Inc. now owns 1,895 shares of the company’s stock worth $69,000 after buying an additional 891 shares during the last quarter. Deseret Mutual Benefit Administrators lifted its stake in Aramark by 15.2% in the 4th quarter. Deseret Mutual Benefit Administrators now owns 2,569 shares of the company’s stock valued at $95,000 after purchasing an additional 339 shares during the last quarter. Finally, Prospera Financial Services Inc acquired a new stake in Aramark in the 1st quarter valued at about $141,000.
Analyst Upgrades and Downgrades
Separately, Morgan Stanley cut their target price 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 investment 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’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $38.71.
Aramark Stock Performance
Aramark (NYSE:ARMK – Get Rating) last issued its earnings results on Tuesday, May 10th. The company reported $0.22 earnings per share for the quarter, beating analysts’ consensus estimates of $0.21 by $0.01. Aramark had a net margin of 1.02% and a return on equity of 6.43%. The firm had revenue of $3.86 billion for the quarter, compared to analyst estimates of $3.78 billion. During the same quarter last year, the business posted ($0.24) earnings per share. The company’s quarterly revenue was up 36.9% on a year-over-year basis. As a group, research analysts predict that Aramark will post 1.15 EPS for the current fiscal year.
Aramark Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Tuesday, August 30th. Stockholders 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 dividend on an annualized basis and a dividend yield of 1.25%. Aramark’s dividend payout ratio 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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