BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Has $843,000 Position in Aramark (NYSE:ARMK)

Posted by Defense World Staff on Jun 4th, 2023

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp reduced its stake in Aramark (NYSE:ARMK – Get Rating) by 10.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 20,387 shares of the company’s stock after selling 2,261 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in Aramark were worth $843,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. National Bank of Canada FI grew its stake in shares of Aramark by 578.6% in the fourth quarter. National Bank of Canada FI now owns 3,613,546 shares of the company’s stock valued at $149,384,000 after acquiring an additional 3,081,038 shares in the last quarter. PointState Capital LP acquired a new position in shares of Aramark in the third quarter valued at about $61,807,000. Goldman Sachs Group Inc. grew its stake in shares of Aramark by 110.0% in the first quarter. Goldman Sachs Group Inc. now owns 3,402,426 shares of the company’s stock valued at $127,931,000 after acquiring an additional 1,782,146 shares in the last quarter. Cibc World Markets Corp bought a new stake in Aramark during the fourth quarter worth about $68,004,000. Finally, Bank of Montreal Can lifted its position in Aramark by 4,311.6% during the third quarter. Bank of Montreal Can now owns 1,547,979 shares of the company’s stock worth $49,828,000 after purchasing an additional 1,512,890 shares during the period.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the stock. Robert W. Baird cut their price objective on shares of Aramark from $43.00 to $39.00 and set a “neutral” rating for the company in a research report on Wednesday, March 22nd. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $48.00 price objective on shares of Aramark in a research report on Wednesday, February 8th. Deutsche Bank Aktiengesellschaft cut their price objective on shares of Aramark from $46.00 to $44.00 in a research report on Wednesday, February 8th. StockNews.com assumed coverage on shares of Aramark in a research report on Thursday, May 18th. They set a “hold” rating for the company. Finally, UBS Group started coverage on shares of Aramark in a research report on Wednesday. They set a “neutral” rating and a $42.00 price objective for the company. One analyst has rated the stock with a sell rating, nine have issued a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, Aramark currently has a consensus rating of “Hold” and a consensus target price of $41.27.

Aramark Stock Up 1.7 %

Shares of NYSE ARMK opened at $39.70 on Friday. The company has a 50 day simple moving average of $36.26 and a 200 day simple moving average of $38.93. The firm has a market cap of $10.35 billion, a PE ratio of 42.23, a price-to-earnings-growth ratio of 0.91 and a beta of 1.65. Aramark has a 1 year low of $28.74 and a 1 year high of $45.72. The company has a debt-to-equity ratio of 2.48, a current ratio of 1.21 and a quick ratio of 1.01.

Aramark Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, May 31st. Investors of record on Wednesday, May 17th were issued a $0.11 dividend. The ex-dividend date was Tuesday, May 16th. This represents a $0.44 dividend on an annualized basis and a yield of 1.11%. Aramark’s dividend payout ratio (DPR) is presently 46.81%.

Aramark Profile

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Aramark engages in the provision of food, facilities, and uniform services. It operates through the following segments: Food and Support Services United States (FSS United States), Food and Support Services International (FSS International), and Uniform and Career Apparel (Uniform). The FSS United States segment offers food, hospitality and facility services for school districts, colleges and universities, healthcare facilities, businesses, sports, entertainment and recreational venues, conference and convention centers, national and state parks, and correctional institutions.