Principal Financial Group Inc. Sells 6,183 Shares of Aramark (NYSE:ARMK)

Principal Financial Group Inc. lessened its holdings in Aramark (NYSE:ARMKFree Report) by 1.0% in the fourth quarter, Holdings Channel reports. The institutional investor owned 603,837 shares of the company’s stock after selling 6,183 shares during the period. Principal Financial Group Inc.’s holdings in Aramark were worth $22,529,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the business. Huntington National Bank raised its holdings in Aramark by 100.3% during the 3rd quarter. Huntington National Bank now owns 681 shares of the company’s stock worth $26,000 after purchasing an additional 341 shares during the last quarter. Capital Performance Advisors LLP acquired a new stake in shares of Aramark during the 3rd quarter worth approximately $28,000. UMB Bank n.a. grew its position in shares of Aramark by 75.2% during the 4th 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 period. CWM LLC grew its position in shares of Aramark by 112.6% during the 3rd quarter. CWM LLC now owns 1,822 shares of the company’s stock worth $71,000 after buying an additional 965 shares during the period. Finally, Assetmark Inc. grew its position in shares of Aramark by 62.7% during the 3rd quarter. Assetmark Inc. now owns 2,154 shares of the company’s stock worth $83,000 after buying an additional 830 shares during the period.

Analysts Set New Price Targets

Several analysts have recently commented on ARMK shares. Stifel Nicolaus raised their price objective on shares of Aramark from $43.00 to $45.00 and gave the stock a “buy” rating in a research report on Tuesday, November 12th. StockNews.com downgraded shares of Aramark from a “buy” rating to a “hold” rating in a research report on Tuesday, January 7th. Royal Bank of Canada reissued an “outperform” rating and issued a $47.00 price target on shares of Aramark in a research report on Thursday, February 6th. Truist Financial lifted their price target on shares of Aramark from $42.00 to $46.00 and gave the company a “buy” rating in a research report on Tuesday, November 12th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Aramark from $41.00 to $45.00 and gave the company an “overweight” rating in a research report on Tuesday, November 12th. Three analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $43.00.

Check Out Our Latest Stock Analysis on Aramark

Aramark Price Performance

ARMK opened at $35.92 on Monday. The company has a debt-to-equity ratio of 1.61, a current ratio of 0.94 and a quick ratio of 0.84. The company has a market capitalization of $9.52 billion, a price-to-earnings ratio of 28.28 and a beta of 1.64. The firm’s fifty day moving average price is $37.92 and its two-hundred day moving average price is $38.07. Aramark has a 1 year low of $29.82 and a 1 year high of $42.49.

Aramark (NYSE:ARMKGet Free Report) last released its earnings results on Tuesday, February 4th. The company reported $0.51 EPS for the quarter, topping analysts’ consensus estimates of $0.48 by $0.03. The company had revenue of $4.55 billion for the quarter, compared to analysts’ expectations of $4.61 billion. Aramark had a return on equity of 14.72% and a net margin of 1.94%. The business’s revenue for the quarter was up 3.3% compared to the same quarter last year. During the same period in the previous year, the business posted $0.41 EPS. As a group, analysts anticipate that Aramark will post 1.92 earnings per share for the current fiscal year.

Aramark Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, February 24th. Stockholders of record on Monday, February 10th will be paid a dividend of $0.105 per share. This represents a $0.42 dividend on an annualized basis and a dividend yield of 1.17%. This is a boost from Aramark’s previous quarterly dividend of $0.00. The ex-dividend date of this dividend is Monday, February 10th. Aramark’s payout ratio is presently 33.07%.

Aramark Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Aramark (NYSE:ARMK)

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