Aramark (NYSE:ARMK) announced a quarterly dividend on Thursday, August 3rd, Wall Street Journal reports. Stockholders of record on Wednesday, August 16th will be paid a dividend of 0.103 per share on Tuesday, September 5th. This represents a $0.41 dividend on an annualized basis and a dividend yield of 1.05%. The ex-dividend date of this dividend is Monday, August 14th.
Aramark has a dividend payout ratio of 23.2% indicating that its dividend is sufficiently covered by earnings. Analysts expect Aramark to earn $2.02 per share next year, which means the company should continue to be able to cover its $0.41 annual dividend with an expected future payout ratio of 20.3%.
Shares of Aramark (NYSE ARMK) opened at 39.08 on Friday. The stock’s 50 day moving average price is $40.05 and its 200-day moving average price is $37.83. The firm has a market cap of $9.58 billion, a P/E ratio of 28.32 and a beta of 0.48. Aramark has a 12 month low of $32.73 and a 12 month high of $41.72.
Aramark (NYSE:ARMK) last announced its quarterly earnings results on Tuesday, August 8th. The company reported $0.40 earnings per share for the quarter, topping analysts’ consensus estimates of $0.35 by $0.05. The company had revenue of $3.59 billion for the quarter, compared to analysts’ expectations of $3.61 billion. Aramark had a net margin of 2.37% and a return on equity of 19.29%. The business’s quarterly revenue was up .2% compared to the same quarter last year. During the same period last year, the firm posted $0.34 earnings per share. Equities research analysts anticipate that Aramark will post $1.96 earnings per share for the current fiscal year.
A number of equities analysts have recently weighed in on the stock. Barclays PLC lifted their price target on shares of Aramark from $37.00 to $39.00 and gave the stock an “equal weight” rating in a research report on Friday, June 23rd. BidaskClub raised shares of Aramark from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, June 28th. Deutsche Bank AG lifted their price target on shares of Aramark from $42.00 to $48.00 and gave the stock a “buy” rating in a research report on Wednesday, May 10th. Zacks Investment Research cut shares of Aramark from a “buy” rating to a “hold” rating in a research report on Tuesday, May 9th. Finally, Morgan Stanley lifted their price target on shares of Aramark from $39.00 to $40.00 and gave the stock an “equal weight” rating in a research report on Thursday, August 10th. One analyst has rated the stock with a sell rating, three have given a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $43.00.
In other Aramark news, VP James J. Tarangelo sold 3,000 shares of Aramark stock in a transaction on Thursday, May 25th. The shares were sold at an average price of $37.15, for a total value of $111,450.00. Following the sale, the vice president now directly owns 2,871 shares in the company, valued at approximately $106,657.65. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Lynn Mckee sold 100,000 shares of Aramark stock in a transaction on Friday, June 2nd. The shares were sold at an average price of $38.61, for a total transaction of $3,861,000.00. Following the completion of the sale, the executive vice president now owns 304,736 shares in the company, valued at $11,765,856.96. The disclosure for this sale can be found here. Insiders sold a total of 143,629 shares of company stock worth $5,618,413 over the last ninety days. 2.90% of the stock is currently owned by insiders.
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Aramark Company Profile
Aramark is a global provider of food, facilities and uniform services to education, healthcare, business and industry, and sports, leisure and corrections clients. The Company operates through three segments: Food and Support Services North America (FSS North America), Food and Support Services International (FSS International), and Uniform and Career Apparel (Uniform).
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