Strategic Wealth Partners Ltd. Lowers Stock Holdings in Aramark (NYSE:ARMK)

Strategic Wealth Partners Ltd. trimmed its holdings in shares of Aramark (NYSE:ARMK) by 5.9% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 192,204 shares of the company’s stock after selling 11,948 shares during the period. Strategic Wealth Partners Ltd. owned approximately 0.07% of Aramark worth $7,444,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the business. Rise Advisors LLC purchased a new position in Aramark in the 1st quarter worth approximately $25,000. Scarborough Advisors LLC purchased a new position in Aramark in the 4th quarter worth approximately $34,000. Twin Tree Management LP raised its holdings in Aramark by 32.0% in the 1st quarter. Twin Tree Management LP now owns 1,424 shares of the company’s stock worth $46,000 after acquiring an additional 345 shares during the last quarter. GAMMA Investing LLC raised its holdings in Aramark by 319.3% in the 2nd quarter. GAMMA Investing LLC now owns 1,677 shares of the company’s stock worth $57,000 after acquiring an additional 1,277 shares during the last quarter. Finally, Versant Capital Management Inc raised its holdings in Aramark by 44,750.0% in the 2nd quarter. Versant Capital Management Inc now owns 1,794 shares of the company’s stock worth $61,000 after acquiring an additional 1,790 shares during the last quarter.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on ARMK shares. Robert W. Baird boosted their price objective on shares of Aramark from $37.00 to $38.00 and gave the stock a “neutral” rating in a report on Wednesday, August 7th. Oppenheimer lifted their target price 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 lifted their target price on shares of Aramark from $36.00 to $39.00 and gave the stock a “buy” rating in a research report on Wednesday, August 7th. Royal Bank of Canada raised shares of Aramark from a “sector perform” rating to an “outperform” rating and lifted their target price for the stock from $36.00 to $42.50 in a research report on Tuesday, September 17th. Finally, JPMorgan Chase & Co. lifted their target price on shares of Aramark from $39.00 to $41.00 and gave the stock an “overweight” rating in a research report on Monday, September 9th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $38.00.

Aramark Trading Up 0.9 %

Shares of Aramark stock opened at $37.60 on Wednesday. The company has a market capitalization of $9.89 billion, a P/E ratio of 15.80 and a beta of 1.62. 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 has a fifty day moving average of $36.49 and a 200 day moving average of $33.98. Aramark has a fifty-two week low of $24.46 and a fifty-two week high of $38.99.

Aramark (NYSE:ARMK) last issued its earnings results on Tuesday, August 6th. The company reported $0.31 earnings per share for the quarter, topping the consensus estimate of $0.30 by $0.01. The company had revenue of $4.38 billion during the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.36 EPS. On average, sell-side analysts anticipate that Aramark will post 1.56 earnings per share for the current fiscal year.

Aramark Dividend Announcement

The business also recently declared 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 annualized dividend and a yield of 1.01%. The ex-dividend date was Monday, August 19th. Aramark’s payout ratio is currently 15.97%.

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.