Levin Capital Strategies L.P. Buys 16,000 Shares of Aramark (NYSE:ARMK)

Levin Capital Strategies L.P. grew its stake in Aramark (NYSE:ARMK) by 266.7% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 22,000 shares of the company’s stock after purchasing an additional 16,000 shares during the period. Levin Capital Strategies L.P.’s holdings in Aramark were worth $821,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the stock. CIBC Asset Management Inc lifted its stake in shares of Aramark by 3.6% in the 3rd quarter. CIBC Asset Management Inc now owns 7,621 shares of the company’s stock valued at $295,000 after purchasing an additional 265 shares during the last quarter. Oregon Public Employees Retirement Fund lifted its stake in shares of Aramark by 0.5% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 53,654 shares of the company’s stock valued at $2,002,000 after purchasing an additional 276 shares during the last quarter. Huntington National Bank lifted its stake in shares of Aramark by 100.3% in the 3rd quarter. Huntington National Bank now owns 681 shares of the company’s stock valued at $26,000 after purchasing an additional 341 shares during the last quarter. HighTower Advisors LLC lifted its stake in shares of Aramark by 2.5% in the 3rd quarter. HighTower Advisors LLC now owns 16,504 shares of the company’s stock valued at $643,000 after purchasing an additional 395 shares during the last quarter. Finally, Amalgamated Bank lifted its stake in shares of Aramark by 0.4% in the 4th quarter. Amalgamated Bank now owns 126,029 shares of the company’s stock valued at $4,702,000 after purchasing an additional 447 shares during the last quarter.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the company. Truist Financial raised their price target on Aramark from $42.00 to $46.00 and gave the stock a “buy” rating in a research note on Tuesday, November 12th. Stifel Nicolaus raised their price target on Aramark from $43.00 to $45.00 and gave the stock a “buy” rating in a research note on Tuesday, November 12th. Robert W. Baird raised their price target on Aramark from $44.00 to $45.00 and gave the stock a “neutral” rating in a research note on Thursday, December 12th. StockNews.com lowered Aramark from a “buy” rating to a “hold” rating in a research note on Tuesday, January 7th. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $47.00 price target on shares of Aramark in a research note on Thursday, February 6th. Three research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $43.42.

Aramark Trading Up 1.6 %

ARMK opened at $37.04 on Friday. The stock’s fifty day moving average is $37.79 and its two-hundred day moving average is $38.10. The company has a market capitalization of $9.82 billion, a P/E ratio of 29.16 and a beta of 1.64. Aramark has a 52 week low of $29.82 and a 52 week high of $42.49. The company has a quick ratio of 0.84, a current ratio of 0.94 and a debt-to-equity ratio of 1.61.

Aramark (NYSE:ARMK) last released its quarterly earnings data on Tuesday, February 4th. The company reported $0.51 EPS for the quarter, topping the consensus estimate of $0.48 by $0.03. Aramark had a return on equity of 14.72% and a net margin of 1.94%. The company had revenue of $4.55 billion for the quarter, compared to the consensus estimate of $4.61 billion. During the same period last year, the business posted $0.41 EPS. Aramark’s quarterly revenue was up 3.3% on a year-over-year basis. Analysts forecast that Aramark will post 1.92 earnings per share for the current year.

Aramark Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, February 24th. Stockholders of record on Monday, February 10th were issued a $0.105 dividend. The ex-dividend date of this dividend was Monday, February 10th. This is an increase from Aramark’s previous quarterly dividend of $0.00. This represents a $0.42 dividend on an annualized basis and a dividend yield of 1.13%. Aramark’s dividend payout ratio (DPR) is currently 33.07%.

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.