KLP Kapitalforvaltning AS Buys Shares of 51,900 Aramark (NYSE:ARMK)

KLP Kapitalforvaltning AS bought a new position in shares of Aramark (NYSE:ARMK) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 51,900 shares of the company’s stock, valued at approximately $1,936,000.

Several other institutional investors also recently modified their holdings of ARMK. Jones Financial Companies Lllp grew its position in Aramark by 45.7% during the 4th quarter. Jones Financial Companies Lllp now owns 988 shares of the company’s stock worth $37,000 after acquiring an additional 310 shares during the last quarter. UMB Bank n.a. grew its holdings in shares of Aramark by 75.2% during the fourth quarter. UMB Bank n.a. now owns 1,354 shares of the company’s stock worth $51,000 after purchasing an additional 581 shares during the last quarter. Global Retirement Partners LLC grew its holdings in shares of Aramark by 167.2% during the fourth quarter. Global Retirement Partners LLC now owns 1,424 shares of the company’s stock worth $53,000 after purchasing an additional 891 shares during the last quarter. Wealthfront Advisers LLC acquired a new position in shares of Aramark in the fourth quarter valued at approximately $83,000. Finally, Quarry LP raised its holdings in Aramark by 1,322.0% in the 3rd quarter. Quarry LP now owns 2,972 shares of the company’s stock valued at $115,000 after buying an additional 2,763 shares during the last quarter.

Aramark Stock Up 0.2 %

Aramark stock opened at $34.35 on Friday. The company has a market capitalization of $9.11 billion, a PE ratio of 27.04 and a beta of 1.60. Aramark has a 12-month low of $29.82 and a 12-month high of $42.49. The firm’s fifty day moving average is $36.86 and its 200 day moving average is $37.97. The company has a quick ratio of 0.84, a current ratio of 0.94 and a debt-to-equity ratio of 1.61.

Aramark (NYSE:ARMK) last released its quarterly earnings data on Tuesday, February 4th. The company reported $0.51 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.48 by $0.03. Aramark had a net margin of 1.94% and a return on equity of 14.72%. The company had revenue of $4.55 billion for the quarter, compared to analysts’ expectations of $4.61 billion. During the same quarter in the prior year, the firm earned $0.41 EPS. The business’s revenue was up 3.3% on a year-over-year basis. As a group, sell-side analysts predict that Aramark will post 1.92 EPS for the current fiscal year.

Aramark Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, February 24th. Stockholders of record on Monday, February 10th were issued a dividend of $0.105 per share. This is an increase from Aramark’s previous quarterly dividend of $0.00. The ex-dividend date of this dividend was Monday, February 10th. This represents a $0.42 annualized dividend and a dividend yield of 1.22%. Aramark’s payout ratio is currently 33.07%.

Analyst Ratings Changes

ARMK has been the subject of several recent research reports. Citigroup began coverage on shares of Aramark in a research report on Monday, February 24th. They issued a “buy” rating and a $48.00 price target for the company. Royal Bank of Canada restated an “outperform” rating and issued a $47.00 price objective on shares of Aramark in a report on Thursday, February 6th. Robert W. Baird lifted their target price on Aramark from $44.00 to $45.00 and gave the stock a “neutral” rating in a report on Thursday, December 12th. StockNews.com cut Aramark from a “buy” rating to a “hold” rating in a research note on Tuesday, January 7th. 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 analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat, Aramark currently has an average rating of “Moderate Buy” and a consensus target price of $43.42.

Aramark 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.