OLD National Bancorp IN Has $410,000 Stake in Aramark (NYSE:ARMK)

OLD National Bancorp IN lowered its stake in shares of Aramark (NYSE:ARMK) by 4.2% during the third quarter, HoldingsChannel reports. The institutional investor owned 10,587 shares of the company’s stock after selling 460 shares during the quarter. OLD National Bancorp IN’s holdings in Aramark were worth $410,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. UMB Bank n.a. lifted its position in shares of Aramark by 360.1% during the 3rd quarter. UMB Bank n.a. now owns 773 shares of the company’s stock valued at $30,000 after acquiring an additional 605 shares during the period. Twin Tree Management LP lifted its position in Aramark by 32.0% during the first quarter. Twin Tree Management LP now owns 1,424 shares of the company’s stock worth $46,000 after purchasing an additional 345 shares during the period. Friedenthal Financial acquired a new stake in Aramark during the third quarter worth about $52,000. GAMMA Investing LLC increased its holdings in Aramark by 319.3% in the 2nd quarter. GAMMA Investing LLC now owns 1,677 shares of the company’s stock valued at $57,000 after buying an additional 1,277 shares during the period. Finally, Versant Capital Management Inc raised its position in shares of Aramark by 44,750.0% in the 2nd quarter. Versant Capital Management Inc now owns 1,794 shares of the company’s stock valued at $61,000 after buying an additional 1,790 shares in the last quarter.

Analyst Ratings Changes

Several research firms recently issued reports on ARMK. Deutsche Bank Aktiengesellschaft upgraded shares of Aramark from a “hold” rating to a “buy” rating and increased their price target for the stock from $36.00 to $39.00 in a research report on Wednesday, August 7th. Truist Financial raised their target price on Aramark from $37.00 to $42.00 and gave the company a “buy” rating in a report on Thursday, September 12th. Morgan Stanley boosted their price target on Aramark from $35.00 to $38.00 and gave the stock an “equal weight” rating in a report on Monday, September 9th. Royal Bank of Canada raised Aramark from a “sector perform” rating to an “outperform” rating and raised their price objective for the company from $36.00 to $42.50 in a research note on Tuesday, September 17th. Finally, Bank of America boosted their target price on Aramark from $36.00 to $39.00 and gave the stock a “buy” rating in a research note on Wednesday, August 7th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, Aramark currently has a consensus rating of “Moderate Buy” and a consensus price target of $39.68.

Aramark Stock Performance

Shares of ARMK stock opened at $39.39 on Wednesday. The firm has a market capitalization of $10.36 billion, a price-to-earnings ratio of 16.55 and a beta of 1.62. 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 business’s 50-day moving average price is $37.44 and its 200-day moving average price is $34.46. Aramark has a 12 month low of $25.92 and a 12 month high of $39.99.

Aramark (NYSE:ARMK) last posted its earnings results on Tuesday, August 6th. The company reported $0.31 EPS for the quarter, topping 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 business had revenue of $4.38 billion for the quarter, compared to the consensus estimate of $4.31 billion. During the same period last year, the company earned $0.36 EPS. The firm’s revenue was up 8.0% compared to the same quarter last year. Equities research analysts forecast that Aramark will post 1.55 EPS for the current year.

Aramark Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Monday, August 19th were issued a $0.095 dividend. The ex-dividend date was Monday, August 19th. This represents a $0.38 dividend on an annualized basis and a yield of 0.96%. Aramark’s payout ratio is 15.97%.

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.