Victory Capital Management Inc. Sells 28,904 Shares of Aramark (NYSE:ARMK)

Victory Capital Management Inc. reduced its position in Aramark (NYSE:ARMK) by 34.6% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 54,698 shares of the company’s stock after selling 28,904 shares during the quarter. Victory Capital Management Inc.’s holdings in Aramark were worth $1,861,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of ARMK. Rise Advisors LLC acquired a new stake in Aramark during the first quarter valued at approximately $25,000. Scarborough Advisors LLC acquired a new stake in Aramark in the 4th quarter valued at $34,000. Twin Tree Management LP grew its position in Aramark by 32.0% in the first quarter. Twin Tree Management LP now owns 1,424 shares of the company’s stock valued at $46,000 after acquiring an additional 345 shares during the period. GAMMA Investing LLC raised its stake in Aramark by 319.3% during the second quarter. GAMMA Investing LLC now owns 1,677 shares of the company’s stock worth $57,000 after acquiring an additional 1,277 shares in the last quarter. Finally, Versant Capital Management Inc lifted its holdings in shares of Aramark by 44,750.0% during the second quarter. Versant Capital Management Inc now owns 1,794 shares of the company’s stock valued at $61,000 after acquiring an additional 1,790 shares during the period.

Wall Street Analysts Forecast Growth

ARMK has been the subject of a number of recent analyst reports. Robert W. Baird increased their target price on shares of Aramark from $37.00 to $38.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 7th. JPMorgan Chase & Co. raised their price objective on shares of Aramark from $39.00 to $41.00 and gave the stock an “overweight” rating in a report on Monday, September 9th. Deutsche Bank Aktiengesellschaft raised Aramark from a “hold” rating to a “buy” rating and boosted their target price for the stock from $36.00 to $39.00 in a report on Wednesday, August 7th. Morgan Stanley raised their price target on Aramark from $35.00 to $38.00 and gave the company an “equal weight” rating in a report on Monday, September 9th. Finally, Bank of America boosted their price objective on Aramark from $36.00 to $39.00 and gave the stock a “buy” rating in a research note on Wednesday, August 7th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $37.36.

Aramark Trading Down 1.3 %

NYSE:ARMK opened at $38.08 on Thursday. The company has a current ratio of 0.96, a quick ratio of 0.86 and a debt-to-equity ratio of 1.71. Aramark has a 1-year low of $23.95 and a 1-year high of $38.99. The firm has a market capitalization of $10.01 billion, a price-to-earnings ratio of 16.00, a PEG ratio of 2.04 and a beta of 1.62. The business’s 50-day moving average price is $35.23 and its two-hundred day moving average price is $33.34.

Aramark (NYSE:ARMK) last announced its quarterly earnings results on Tuesday, August 6th. The company reported $0.31 earnings per share for the quarter, beating analysts’ consensus estimates of $0.30 by $0.01. Aramark had a net margin of 1.93% and a return on equity of 14.09%. The business had revenue of $4.38 billion for the quarter, compared to the consensus estimate of $4.31 billion. During the same period last year, the company posted $0.36 EPS. Aramark’s revenue for the quarter was up 8.0% on a year-over-year basis. On average, equities analysts expect that Aramark will post 1.57 earnings per share for the current year.

Aramark Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Monday, August 19th were issued a $0.095 dividend. The ex-dividend date was Monday, August 19th. This represents a $0.38 annualized dividend and a dividend yield of 1.00%. Aramark’s dividend payout ratio (DPR) is currently 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.