Aramark (NYSE:ARMK) Announces $0.10 Quarterly Dividend

Aramark (NYSE:ARMKGet Free Report) declared a quarterly dividend on Wednesday, January 31st, Zacks reports. Stockholders of record on Wednesday, February 14th will be given a dividend of 0.095 per share on Wednesday, February 28th. This represents a $0.38 dividend on an annualized basis and a dividend yield of 1.23%. The ex-dividend date is Tuesday, February 13th.

Aramark has decreased its dividend payment by an average of 1.2% per year over the last three years. Aramark has a payout ratio of 20.1% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Aramark to earn $1.97 per share next year, which means the company should continue to be able to cover its $0.38 annual dividend with an expected future payout ratio of 19.3%.

Aramark Stock Up 0.9 %

ARMK opened at $30.78 on Monday. The company has a fifty day moving average price of $28.32 and a 200-day moving average price of $31.00. Aramark has a one year low of $23.55 and a one year high of $31.94. The firm has a market capitalization of $8.08 billion, a P/E ratio of 13.37, a price-to-earnings-growth ratio of 1.23 and a beta of 1.47. 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:ARMKGet Free Report) last announced its quarterly earnings data on Tuesday, February 6th. The company reported $0.41 EPS for the quarter, beating the consensus estimate of $0.36 by $0.05. The firm had revenue of $4.41 billion for the quarter, compared to analyst estimates of $4.29 billion. Aramark had a return on equity of 13.45% and a net margin of 3.37%. The company’s revenue was up 12.6% on a year-over-year basis. During the same period in the prior year, the company earned $0.41 EPS. Equities research analysts expect that Aramark will post 1.56 earnings per share for the current fiscal year.

Insider Activity at Aramark

In other Aramark news, COO Marc A. Bruno sold 27,884 shares of Aramark stock in a transaction that occurred on Wednesday, December 13th. The stock was sold at an average price of $26.67, for a total transaction of $743,666.28. Following the sale, the chief operating officer now directly owns 225,653 shares of the company’s stock, valued at approximately $6,018,165.51. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 1.92% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Aramark

Several institutional investors and hedge funds have recently added to or reduced their stakes in ARMK. UniSuper Management Pty Ltd bought a new position in shares of Aramark in the 2nd quarter worth about $69,000. PNC Financial Services Group Inc. increased its stake in shares of Aramark by 35.9% during the first quarter. PNC Financial Services Group Inc. now owns 1,693 shares of the company’s stock valued at $64,000 after purchasing an additional 447 shares in the last quarter. US Bancorp DE increased its stake in shares of Aramark by 26.7% during the fourth quarter. US Bancorp DE now owns 2,727 shares of the company’s stock valued at $77,000 after purchasing an additional 575 shares in the last quarter. State of Wyoming lifted its holdings in shares of Aramark by 48.9% during the second quarter. State of Wyoming now owns 2,987 shares of the company’s stock valued at $129,000 after purchasing an additional 981 shares during the last quarter. Finally, Lazard Asset Management LLC bought a new stake in shares of Aramark in the 3rd quarter worth approximately $112,000.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on ARMK. The Goldman Sachs Group started coverage on Aramark in a research note on Wednesday, January 17th. They set a “buy” rating and a $33.00 price objective on the stock. StockNews.com started coverage on Aramark in a research note on Thursday, December 7th. They issued a “hold” rating on the stock. Royal Bank of Canada reissued a “sector perform” rating and set a $33.00 price objective on shares of Aramark in a research note on Wednesday, February 7th. JPMorgan Chase & Co. cut their target price on shares of Aramark from $47.00 to $35.00 and set an “overweight” rating on the stock in a report on Monday, October 16th. Finally, Stifel Nicolaus dropped their price target on shares of Aramark from $45.00 to $33.00 and set a “buy” rating for the company in a research report on Tuesday, November 7th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and ten have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $33.32.

Check Out Our Latest Research Report on ARMK

Aramark Company Profile

(Get 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.

Further Reading

Dividend History for Aramark (NYSE:ARMK)

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