New York Life Investment Management LLC Has $990,000 Stock Position in Aramark (NYSE:ARMK)

New York Life Investment Management LLC decreased its position in shares of Aramark (NYSE:ARMK) by 7.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 26,534 shares of the company’s stock after selling 2,055 shares during the period. New York Life Investment Management LLC’s holdings in Aramark were worth $990,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of ARMK. Huntington National Bank boosted its position in Aramark by 100.3% during the third 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. Capital Performance Advisors LLP acquired a new stake in shares of Aramark in the third quarter worth about $28,000. UMB Bank n.a. lifted its position in shares of Aramark by 75.2% in the fourth quarter. UMB Bank n.a. now owns 1,354 shares of the company’s stock worth $51,000 after buying an additional 581 shares during the last quarter. Global Retirement Partners LLC lifted its position in shares of Aramark by 167.2% in the fourth quarter. Global Retirement Partners LLC now owns 1,424 shares of the company’s stock worth $53,000 after buying an additional 891 shares during the last quarter. Finally, Assetmark Inc. lifted its position in shares of Aramark by 62.7% in the third quarter. Assetmark Inc. now owns 2,154 shares of the company’s stock worth $83,000 after buying an additional 830 shares during the last quarter.

Aramark Trading Down 2.8 %

Shares of ARMK opened at $36.02 on Tuesday. Aramark has a 12-month low of $29.82 and a 12-month 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. The firm has a market capitalization of $9.55 billion, a price-to-earnings ratio of 28.36 and a beta of 1.64. The stock’s 50-day moving average price is $37.76 and its 200 day moving average price is $38.13.

Aramark (NYSE:ARMK) last issued its quarterly earnings results on Tuesday, February 4th. The company reported $0.51 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $4.55 billion for the quarter, compared to analyst estimates of $4.61 billion. During the same period in the previous year, the company posted $0.41 earnings per share. The company’s quarterly revenue was up 3.3% compared to the same quarter last year. As a group, research analysts predict that Aramark will post 1.92 earnings per share for the current year.

Aramark Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, February 24th. Investors of record on Monday, February 10th were paid a dividend of $0.105 per share. This represents a $0.42 annualized dividend and a yield of 1.17%. This is a positive change from Aramark’s previous quarterly dividend of $0.00. The ex-dividend date was Monday, February 10th. Aramark’s payout ratio is currently 33.07%.

Analyst Ratings Changes

ARMK has been the subject of a number of analyst reports. Truist Financial boosted their price target on Aramark from $42.00 to $46.00 and gave the stock a “buy” rating in a research report on Tuesday, November 12th. StockNews.com cut Aramark from a “buy” rating to a “hold” rating in a research report on Tuesday, January 7th. Stifel Nicolaus boosted their price target on Aramark from $43.00 to $45.00 and gave the stock a “buy” rating in a research report on Tuesday, November 12th. Citigroup began coverage on Aramark in a research report on Monday, February 24th. They issued a “buy” rating and a $48.00 price target for the company. Finally, Morgan Stanley lifted their price objective on Aramark from $40.00 to $43.00 and gave the stock an “equal weight” rating in a research note on Thursday, December 12th. Three investment 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 stock has an average rating of “Moderate Buy” and a consensus price target of $43.42.

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.