Aramark (NYSE:ARMK) Shares Purchased by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. boosted its stake in shares of Aramark (NYSE:ARMK) by 154.6% in the second quarter, according to its most recent disclosure with the SEC. The firm owned 452,490 shares of the company’s stock after acquiring an additional 274,780 shares during the period. Envestnet Asset Management Inc. owned about 0.17% of Aramark worth $15,394,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in ARMK. Hsbc Holdings PLC raised its position in Aramark by 28.4% during the fourth quarter. Hsbc Holdings PLC now owns 534,448 shares of the company’s stock worth $14,973,000 after acquiring an additional 118,178 shares during the period. Artisan Partners Limited Partnership raised its position in Aramark by 9.3% during the fourth quarter. Artisan Partners Limited Partnership now owns 391,727 shares of the company’s stock worth $11,008,000 after acquiring an additional 33,206 shares during the period. United Services Automobile Association raised its position in Aramark by 16.1% during the fourth quarter. United Services Automobile Association now owns 20,775 shares of the company’s stock worth $584,000 after acquiring an additional 2,876 shares during the period. TFO Wealth Partners LLC raised its position in Aramark by 62,280.0% during the fourth quarter. TFO Wealth Partners LLC now owns 3,119 shares of the company’s stock worth $88,000 after acquiring an additional 3,114 shares during the period. Finally, Bank of Nova Scotia raised its position in Aramark by 84.7% during the fourth quarter. Bank of Nova Scotia now owns 1,192,142 shares of the company’s stock worth $33,498,000 after acquiring an additional 546,796 shares during the period.

Aramark Trading Up 0.8 %

Shares of ARMK opened at $37.26 on Wednesday. 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 12-month low of $23.95 and a 12-month high of $38.99. The firm has a 50-day moving average price of $35.57 and a 200 day moving average price of $33.53. The firm has a market capitalization of $9.80 billion, a P/E ratio of 15.66, a P/E/G ratio of 2.04 and a beta of 1.62.

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

Aramark Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Monday, August 19th were paid a dividend of $0.095 per share. This represents a $0.38 annualized dividend and a yield of 1.02%. The ex-dividend date was Monday, August 19th. Aramark’s dividend payout ratio (DPR) is presently 15.97%.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on ARMK shares. Oppenheimer upped their price objective on shares of Aramark from $36.00 to $39.00 and gave the stock an “outperform” rating in a research report on Wednesday, June 12th. Bank of America increased their target price on shares of Aramark from $36.00 to $39.00 and gave the company a “buy” rating in a research report on Wednesday, August 7th. StockNews.com upgraded shares of Aramark from a “sell” rating to a “hold” rating in a research report on Saturday. Royal Bank of Canada upgraded shares of Aramark from a “sector perform” rating to an “outperform” rating and increased their target price for the company from $36.00 to $42.50 in a research report on Tuesday, September 17th. Finally, Truist Financial increased their target price 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 analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $37.36.

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.