Global Assets Advisory LLC Takes Position in Aramark (NYSE:ARMK)

Global Assets Advisory LLC acquired a new position in Aramark (NYSE:ARMK) during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 16,135 shares of the company’s stock, valued at approximately $500,000.

Several other large investors also recently added to or reduced their stakes in ARMK. Vanguard Group Inc. grew its holdings in Aramark by 0.5% in the 4th quarter. Vanguard Group Inc. now owns 25,584,242 shares of the company’s stock worth $718,917,000 after acquiring an additional 139,693 shares during the last quarter. Capital International Investors lifted its stake in Aramark by 0.4% in the fourth quarter. Capital International Investors now owns 23,614,308 shares of the company’s stock worth $663,545,000 after acquiring an additional 91,866 shares during the period. Morgan Stanley boosted its holdings in Aramark by 1.5% in the third quarter. Morgan Stanley now owns 12,758,467 shares of the company’s stock valued at $442,719,000 after acquiring an additional 186,969 shares in the last quarter. Massachusetts Financial Services Co. MA increased its position in Aramark by 27.7% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 4,983,507 shares of the company’s stock valued at $140,037,000 after purchasing an additional 1,081,358 shares during the period. Finally, Sarasin & Partners LLP raised its holdings in Aramark by 7.0% in the 4th quarter. Sarasin & Partners LLP now owns 3,982,858 shares of the company’s stock worth $111,918,000 after purchasing an additional 259,026 shares in the last quarter.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on ARMK. Oppenheimer lifted their target price on shares of Aramark from $36.00 to $39.00 and gave the company an “outperform” rating in a research note on Wednesday, June 12th. UBS Group upped their target price on shares of Aramark from $35.00 to $40.00 and gave the stock a “buy” rating in a research note on Friday, June 21st. Robert W. Baird lifted their price objective on Aramark from $35.00 to $37.00 and gave the stock a “neutral” rating in a report on Wednesday, May 8th. Finally, Truist Financial raised their price target on shares of Aramark from $35.00 to $37.00 and gave the company a “buy” rating in a report on Wednesday, March 20th. One analyst has rated the stock with a sell rating, four have issued a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat.com, Aramark has a consensus rating of “Moderate Buy” and a consensus target price of $34.89.

Aramark Stock Performance

Shares of NYSE ARMK opened at $33.67 on Friday. The company has a debt-to-equity ratio of 2.03, a current ratio of 1.25 and a quick ratio of 1.11. Aramark has a 1 year low of $23.95 and a 1 year high of $34.25. The firm has a fifty day moving average price of $32.62 and a 200-day moving average price of $30.89. The stock has a market cap of $8.85 billion, a PE ratio of 14.15, a price-to-earnings-growth ratio of 1.36 and a beta of 1.56.

Aramark (NYSE:ARMK) last posted its quarterly earnings results on Tuesday, May 7th. The company reported $0.29 EPS for the quarter, beating analysts’ consensus estimates of $0.26 by $0.03. Aramark had a return on equity of 13.82% and a net margin of 3.43%. The business had revenue of $4.20 billion for the quarter, compared to analysts’ expectations of $4.25 billion. Equities analysts anticipate that Aramark will post 1.57 earnings per share for the current fiscal year.

Aramark Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, May 28th. Investors of record on Monday, May 13th were paid a dividend of $0.095 per share. The ex-dividend date of this dividend was Friday, May 10th. This represents a $0.38 annualized dividend and a yield of 1.13%. Aramark’s payout ratio is 15.97%.

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.