Aramark (NYSE:ARMK) Sees Large Decrease in Short Interest

Aramark (NYSE:ARMK) was the target of a large drop in short interest during the month of May. As of May 31st, there was short interest totalling 5,110,000 shares, a drop of 13.2% from the May 15th total of 5,890,000 shares. Based on an average daily volume of 2,610,000 shares, the days-to-cover ratio is currently 2.0 days.

Analyst Ratings Changes

Several research firms have commented on ARMK. Oppenheimer upped their price objective on shares of Aramark from $36.00 to $39.00 and gave the company an “outperform” rating in a report on Wednesday, June 12th. Truist Financial increased their price target on shares of Aramark from $35.00 to $37.00 and gave the company a “buy” rating in a report on Wednesday, March 20th. Finally, Robert W. Baird boosted their price objective on Aramark from $35.00 to $37.00 and gave the stock a “neutral” rating in a report on Wednesday, May 8th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and ten have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $34.11.

Aramark Price Performance

Shares of NYSE:ARMK traded up $0.11 during trading on Tuesday, reaching $33.80. 3,373,990 shares of the company traded hands, compared to its average volume of 2,477,076. The firm has a market capitalization of $8.89 billion, a PE ratio of 14.20, a PEG ratio of 1.32 and a beta of 1.56. Aramark has a 52 week low of $23.95 and a 52 week high of $34.23. The company has a quick ratio of 1.11, a current ratio of 1.25 and a debt-to-equity ratio of 2.03. The company’s 50 day moving average is $32.29 and its two-hundred day moving average is $30.63.

Aramark (NYSE:ARMK) last posted its quarterly earnings data on Tuesday, May 7th. The company reported $0.29 earnings per share for the quarter, topping the consensus estimate of $0.26 by $0.03. Aramark had a net margin of 3.43% and a return on equity of 13.82%. The business had revenue of $4.20 billion during the quarter, compared to analysts’ expectations of $4.25 billion. As a group, sell-side analysts predict that Aramark will post 1.57 earnings per share for the current year.

Aramark Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, May 28th. Shareholders of record on Monday, May 13th were given a dividend of $0.095 per share. The ex-dividend date of this dividend was Friday, May 10th. This represents a $0.38 annualized dividend and a yield of 1.12%. Aramark’s dividend payout ratio is currently 15.97%.

Institutional Investors Weigh In On Aramark

A number of large investors have recently modified their holdings of ARMK. Rise Advisors LLC bought a new stake in shares of Aramark during the 1st quarter valued at approximately $25,000. Benjamin F. Edwards & Company Inc. acquired a new position in shares of Aramark during the fourth quarter worth $28,000. Scarborough Advisors LLC bought a new position in shares of Aramark in the 4th quarter valued at $34,000. Twin Tree Management LP boosted its holdings in shares of Aramark by 32.0% during the 1st quarter. Twin Tree Management LP now owns 1,424 shares of the company’s stock valued at $46,000 after acquiring an additional 345 shares in the last quarter. Finally, Solstein Capital LLC bought a new stake in Aramark during the 4th quarter worth $47,000.

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.