May 28, 2023 – Schroder Investment Management Group has recently announced that they have lowered their stake in the shares of Aramark (NYSE: ARMK) by 15.6%. The move comes following their most recent disclosure with the Securities and Exchange Commission (SEC), where it was revealed that the firm owned 1,518,144 shares of the company’s stock after selling 279,572 shares during Q4. Schroder Investment Management Group had held about 0.58% of Aramark earlier, which now stood at a total worth of $62,760,000.
Aramark is a renowned name in the world of food and facility services. It offers food and hospitality services to schools and universities, healthcare facilities, sports venues and national parks among many other entities. Despite having faced some headwinds in the industry lately due to market saturation, Aramark has managed to maintain its position as one of the top players in this sector.
In another recent disclosure by Aramark, it was announced that it will be issuing a quarterly dividend on Wednesday, May 31st for its shareholders. The dividend would amount to $0.11 per share for shareholders of record as on Wednesday, May 17th. This represents an annualized dividend payout ratio (DPR) of 46.81% and a yield of around 1.12%. For those looking to buy or sell these shares and associated dividends must note that Tuesday May16th marks an ex-dividend date-where investors can purchase shares without receiving this particular dividend.
Despite facing intense competition in the market today from rival service providers providing similar offerings across geographies; including both large-scale names and several smaller providers who have been rapidly gaining momentum within their respective markets-Aramark has managed to navigate through uncertainties fairly well while retaining steady performance levels. The announcement of their latest dividend comes as a vote-of-confidence in the company’s ability to perform well considering recent changes in the industry.
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Aramark Continues to Attract Hedge Funds and Institutional Investors: An Overview of Recent Holdings and Analyst Perceptions
As of May 28, 2023, Aramark (NYSE:ARMK) has continued to capture the attention of hedge funds and institutional investors. Recently, a number of these investors have modified their holdings in the company. For instance, U.S. Capital Wealth Advisors LLC bought a new position in Aramark during Q4 2022 for $25,000. On the other hand, Whittier Trust Co. of Nevada Inc. purchased shares valued at $26,000 during the same period while Exos TFP Holdings LLC bought shares worth approximately $53,000 in Q3 2022.
In addition, PNC Financial Services Group Inc. increased its holdings by 35.9% during Q1 2023 and now owns 1,693 shares valued at $64,000 after purchasing an additional 447 shares in the last quarter; finally CI Investments Inc., which owns 2,517 shares now valued at $104,000 after acquiring an additional 1,521 shares during the last quarter.
Shares of Aramark reached up to a price of $39.43 during midday trading on Friday and were traded for over three times compared to its average volume with over 42 thousand shares being traded hands on that day alone.
According to recent reports by brokerage firms such as Deutsche Bank Aktiengesellschaft and Robert W Baird among others; they revealed their various perceptions on ARMK’s present standing in terms of share price performance, rating it as a “Hold” and set an average target price ranging from around $39 to $48 dollars per share.
The company has seen some ups and downs since recording a year-long high of $45.72 and plummeting to its lowest price level for the same period at around $28.74 per share which makes it imperative to consider the advice given by analysts before making any investment decisions regarding Aramark stock.
