Bank of Montreal Can Has $1.53 Million Holdings in Aramark (NYSE:ARMK)

Bank of Montreal Can cut its position in shares of Aramark (NYSE:ARMK) by 78.4% in the second quarter, Holdings Channel reports. The firm owned 44,988 shares of the company’s stock after selling 163,337 shares during the period. Bank of Montreal Can’s holdings in Aramark were worth $1,532,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in ARMK. SG Americas Securities LLC lifted its stake in Aramark by 131.8% in the first quarter. SG Americas Securities LLC now owns 97,167 shares of the company’s stock valued at $3,160,000 after acquiring an additional 55,249 shares during the last quarter. Public Sector Pension Investment Board bought a new stake in Aramark in the fourth quarter worth $75,477,000. Vanguard Group Inc. increased its position in Aramark by 0.5% during the fourth quarter. Vanguard Group Inc. now owns 25,584,242 shares of the company’s stock worth $718,917,000 after buying an additional 139,693 shares during the last quarter. Leeward Investments LLC MA acquired a new stake in shares of Aramark in the second quarter worth about $9,263,000. Finally, Perpetual Ltd boosted its stake in shares of Aramark by 3.0% during the 1st quarter. Perpetual Ltd now owns 1,404,905 shares of the company’s stock worth $45,041,000 after acquiring an additional 40,520 shares in the last quarter.

Aramark Stock Performance

ARMK opened at $37.82 on Friday. The stock’s 50 day simple moving average is $36.35 and its 200-day simple moving average is $33.86. The company has a current ratio of 0.96, a quick ratio of 0.86 and a debt-to-equity ratio of 1.71. The stock has a market cap of $9.95 billion, a PE ratio of 15.89 and a beta of 1.62. Aramark has a 1 year low of $24.13 and a 1 year high of $38.99.

Aramark (NYSE:ARMK) last announced its quarterly earnings results on Tuesday, August 6th. The company reported $0.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.30 by $0.01. Aramark had a net margin of 1.93% and a return on equity of 14.09%. The firm had revenue of $4.38 billion for the quarter, compared to analyst estimates of $4.31 billion. During the same quarter in the previous year, the firm posted $0.36 EPS. The business’s revenue for the quarter was up 8.0% on a year-over-year basis. Sell-side analysts forecast that Aramark will post 1.56 EPS for the current year.

Aramark Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Monday, August 19th were issued a dividend of $0.095 per share. This represents a $0.38 dividend on an annualized basis and a yield of 1.00%. The ex-dividend date of this dividend was Monday, August 19th. Aramark’s payout ratio is 15.97%.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on ARMK. Robert W. Baird raised their price objective on Aramark from $37.00 to $38.00 and gave the company a “neutral” rating in a research note on Wednesday, August 7th. Truist Financial boosted their price objective on shares of Aramark from $37.00 to $42.00 and gave the stock a “buy” rating in a research note on Thursday, September 12th. UBS Group raised their target price on shares of Aramark from $35.00 to $40.00 and gave the company a “buy” rating in a research note on Friday, June 21st. Oppenheimer boosted their target price on shares of Aramark from $36.00 to $39.00 and gave the stock an “outperform” rating in a research report on Wednesday, June 12th. Finally, Bank of America raised their price target on Aramark from $36.00 to $39.00 and gave the company a “buy” rating in a research report on Wednesday, August 7th. Three investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat.com, Aramark currently has an average rating of “Moderate Buy” and an average target price of $37.36.

About Aramark

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.