Channing Capital Management LLC Buys 92,954 Shares of Aramark (NYSE:ARMK)

Channing Capital Management LLC raised its position in shares of Aramark (NYSE:ARMK) by 35.8% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 352,729 shares of the company’s stock after buying an additional 92,954 shares during the quarter. Channing Capital Management LLC owned about 0.13% of Aramark worth $9,912,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the company. Benjamin F. Edwards & Company Inc. purchased a new stake in Aramark in the fourth quarter valued at about $28,000. EverSource Wealth Advisors LLC boosted its stake in Aramark by 2,269.4% in the 3rd quarter. EverSource Wealth Advisors LLC now owns 1,161 shares of the company’s stock worth $40,000 after purchasing an additional 1,112 shares in the last quarter. Solstein Capital LLC purchased a new stake in Aramark during the 4th quarter worth approximately $47,000. Fifth Third Bancorp increased its stake in Aramark by 82.7% during the 4th quarter. Fifth Third Bancorp now owns 1,873 shares of the company’s stock valued at $53,000 after purchasing an additional 848 shares in the last quarter. Finally, Oppenheimer Asset Management Inc. purchased a new position in shares of Aramark in the third quarter worth $213,000.

Aramark Price Performance

ARMK stock traded down $0.01 during mid-day trading on Friday, reaching $30.92. 2,323,143 shares of the company’s stock were exchanged, compared to its average volume of 2,247,518. The company has a market cap of $8.11 billion, a price-to-earnings ratio of 12.94, a price-to-earnings-growth ratio of 1.24 and a beta of 1.47. Aramark has a 12-month low of $23.95 and a 12-month high of $33.04. The stock’s 50 day moving average is $31.61 and its 200 day moving average is $29.47. The company has a debt-to-equity ratio of 2.08, a current ratio of 1.27 and a quick ratio of 1.12.

Aramark (NYSE:ARMK) last issued its quarterly earnings results on Tuesday, February 6th. The company reported $0.41 EPS for the quarter, topping the consensus estimate of $0.36 by $0.05. Aramark had a net margin of 3.37% and a return on equity of 13.45%. The company had revenue of $4.41 billion during the quarter, compared to analyst estimates of $4.29 billion. During the same quarter in the previous year, the firm earned $0.41 EPS. The firm’s revenue was up 12.6% compared to the same quarter last year. On average, research analysts expect that Aramark will post 1.56 EPS for the current year.

Aramark Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, May 28th. Stockholders of record on Monday, May 13th will be given a $0.095 dividend. The ex-dividend date of this dividend is Friday, May 10th. This represents a $0.38 annualized dividend and a dividend yield of 1.23%. Aramark’s dividend payout ratio (DPR) is presently 15.90%.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. Royal Bank of Canada reissued a “sector perform” rating and issued a $33.00 target price on shares of Aramark in a research report on Wednesday, February 7th. Morgan Stanley lifted their target price on Aramark from $28.00 to $30.00 and gave the stock an “equal weight” rating in a report on Wednesday, February 7th. Truist Financial increased their price target on shares of Aramark from $35.00 to $37.00 and gave the stock a “buy” rating in a report on Wednesday, March 20th. Finally, The Goldman Sachs Group began coverage on shares of Aramark in a research note on Wednesday, January 17th. They set a “buy” rating and a $33.00 price objective for the company. One investment analyst has rated the stock with a sell rating, three have given a hold rating and ten have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $33.04.

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.