Hsbc Holdings PLC Grows Position in Aramark (NYSE:ARMK)

Hsbc Holdings PLC lifted its holdings in shares of Aramark (NYSE:ARMK) by 113.7% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 427,472 shares of the company’s stock after buying an additional 227,465 shares during the period. Hsbc Holdings PLC owned approximately 0.16% of Aramark worth $14,531,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of ARMK. Public Sector Pension Investment Board purchased a new stake in shares of Aramark during the fourth quarter valued at $75,477,000. Norges Bank purchased a new stake in shares of Aramark during the fourth quarter valued at $68,309,000. Farallon Capital Management LLC boosted its position in shares of Aramark by 5.5% during the first quarter. Farallon Capital Management LLC now owns 17,822,937 shares of the company’s stock valued at $579,602,000 after buying an additional 923,683 shares during the last quarter. Schroder Investment Management Group boosted its position in shares of Aramark by 51.0% during the fourth quarter. Schroder Investment Management Group now owns 2,209,513 shares of the company’s stock valued at $62,087,000 after buying an additional 746,618 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its position in shares of Aramark by 18.0% during the second quarter. Dimensional Fund Advisors LP now owns 4,731,963 shares of the company’s stock valued at $160,977,000 after buying an additional 720,738 shares during the last quarter.

Aramark Price Performance

ARMK stock opened at $37.75 on Monday. 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 company’s fifty day moving average price is $35.43 and its 200-day moving average price is $33.46. Aramark has a one year low of $23.95 and a one year high of $38.99. The company has a market capitalization of $9.93 billion, a PE ratio of 15.86, a price-to-earnings-growth ratio of 2.04 and a beta of 1.62.

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

Aramark Announces Dividend

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

Wall Street Analysts Forecast Growth

ARMK has been the topic of several research reports. Bank of America raised their target price on Aramark from $36.00 to $39.00 and gave the stock a “buy” rating in a research report on Wednesday, August 7th. Deutsche Bank Aktiengesellschaft raised Aramark from a “hold” rating to a “buy” rating and raised their target price for the stock from $36.00 to $39.00 in a research report on Wednesday, August 7th. UBS Group raised their target price on Aramark from $35.00 to $40.00 and gave the stock a “buy” rating in a research report on Friday, June 21st. Oppenheimer raised their target price on Aramark from $36.00 to $39.00 and gave the stock an “outperform” rating in a research report on Wednesday, June 12th. Finally, Royal Bank of Canada raised Aramark from a “sector perform” rating to an “outperform” rating and boosted their price target for the company from $36.00 to $42.50 in a report on Tuesday, September 17th. Three research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $37.36.

About Aramark

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.