Oppenheimer Asset Management Inc. Grows Stock Holdings in Aramark (NYSE:ARMK)

Oppenheimer Asset Management Inc. increased its stake in Aramark (NYSE:ARMK) by 24.0% during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 9,327 shares of the company’s stock after buying an additional 1,804 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Aramark were worth $317,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in ARMK. Rise Advisors LLC purchased a new stake in shares of Aramark in the first quarter worth $25,000. Scarborough Advisors LLC purchased a new stake in Aramark during the 4th quarter valued at about $34,000. Twin Tree Management LP increased its stake in Aramark by 32.0% during the 1st quarter. Twin Tree Management LP now owns 1,424 shares of the company’s stock valued at $46,000 after purchasing an additional 345 shares in the last quarter. GAMMA Investing LLC raised its holdings in Aramark by 319.3% in the second quarter. GAMMA Investing LLC now owns 1,677 shares of the company’s stock worth $57,000 after buying an additional 1,277 shares during the last quarter. Finally, Versant Capital Management Inc grew 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 buying an additional 1,790 shares during the last quarter.

Analyst Upgrades and Downgrades

ARMK has been the topic of several recent analyst reports. Morgan Stanley increased their target price on Aramark from $35.00 to $38.00 and gave the company an “equal weight” rating in a research note on Monday, September 9th. JPMorgan Chase & Co. lifted their price objective on Aramark from $39.00 to $41.00 and gave the stock an “overweight” rating in a report on Monday, September 9th. Oppenheimer upped 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. StockNews.com upgraded shares of Aramark from a “sell” rating to a “hold” rating in a research note on Saturday. Finally, Truist Financial increased their price objective on shares of Aramark from $37.00 to $42.00 and gave the company a “buy” rating in a research report on Thursday, September 12th. Three equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat, Aramark presently has an average rating of “Moderate Buy” and an average price target of $37.36.

Aramark Price Performance

Shares of Aramark stock opened at $37.75 on Friday. The stock’s fifty day moving average is $35.43 and its 200 day moving average is $33.44. Aramark has a one year low of $23.95 and a one year high of $38.99. The company has a debt-to-equity ratio of 1.71, a quick ratio of 0.86 and a current ratio of 0.96. The stock has a market cap of $9.93 billion, a P/E ratio of 15.86, a P/E/G ratio of 2.04 and a beta of 1.62.

Aramark (NYSE:ARMK) last posted its quarterly earnings data on Tuesday, August 6th. The company reported $0.31 EPS for the quarter, topping the consensus estimate of $0.30 by $0.01. The firm had revenue of $4.38 billion for the quarter, compared to the consensus estimate of $4.31 billion. Aramark had a return on equity of 14.09% and a net margin of 1.93%. The business’s revenue for the quarter was up 8.0% compared to the same quarter last year. During the same quarter last year, the company earned $0.36 earnings per share. Sell-side analysts anticipate that Aramark will post 1.57 earnings per share for the current year.

Aramark Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Monday, August 19th were given a $0.095 dividend. The ex-dividend date was Monday, August 19th. This represents a $0.38 dividend on an annualized basis and a dividend yield of 1.01%. Aramark’s payout ratio is currently 15.97%.

Aramark Company 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.