Aramark (NYSE:ARMK) Holdings Decreased by ProShare Advisors LLC

ProShare Advisors LLC reduced its holdings in Aramark (NYSE:ARMK) by 3.1% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 12,403 shares of the company’s stock after selling 400 shares during the quarter. ProShare Advisors LLC’s holdings in Aramark were worth $422,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently bought and sold shares of ARMK. SG Americas Securities LLC lifted its position in Aramark by 131.8% in the 1st quarter. SG Americas Securities LLC now owns 97,167 shares of the company’s stock valued at $3,160,000 after purchasing an additional 55,249 shares during the last quarter. Public Sector Pension Investment Board acquired a new position in shares of Aramark during the fourth quarter valued at approximately $75,477,000. Vanguard Group Inc. increased its position in shares of Aramark by 0.5% during the 4th quarter. Vanguard Group Inc. now owns 25,584,242 shares of the company’s stock valued at $718,917,000 after purchasing an additional 139,693 shares during the period. Public Employees Retirement Association of Colorado boosted its stake in Aramark by 3,613.1% during the fourth quarter. Public Employees Retirement Association of Colorado now owns 680,235 shares of the company’s stock valued at $19,115,000 after buying an additional 661,915 shares in the last quarter. Finally, Capital International Investors grew its holdings in Aramark by 0.4% during the fourth quarter. Capital International Investors now owns 23,614,308 shares of the company’s stock worth $663,545,000 after acquiring an additional 91,866 shares during the period.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on ARMK shares. Bank of America raised their price objective 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. Royal Bank of Canada upgraded shares of Aramark from a “sector perform” rating to an “outperform” rating and lifted their price target for the stock from $36.00 to $42.50 in a research report on Tuesday, September 17th. Truist Financial increased their price objective on Aramark from $37.00 to $42.00 and gave the company a “buy” rating in a research report on Thursday, September 12th. Deutsche Bank Aktiengesellschaft raised Aramark from a “hold” rating to a “buy” rating and raised their price objective for the stock from $36.00 to $39.00 in a research note on Wednesday, August 7th. Finally, JPMorgan Chase & Co. boosted their target price on Aramark from $39.00 to $41.00 and gave the stock an “overweight” rating in a research report on Monday, September 9th. Three equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, Aramark presently has an average rating of “Moderate Buy” and an average price target of $37.36.

Aramark Stock Performance

ARMK stock opened at $38.14 on Wednesday. The firm has a 50 day simple moving average of $35.98 and a 200 day simple moving average of $33.70. Aramark has a 52 week low of $23.95 and a 52 week high of $38.99. The stock has a market cap of $10.03 billion, a P/E ratio of 16.03 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.

Aramark (NYSE:ARMK) last posted its quarterly earnings results on Tuesday, August 6th. The company reported $0.31 EPS for the quarter, beating the consensus estimate 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 analysts’ expectations of $4.31 billion. During the same period in the previous year, the company posted $0.36 EPS. Aramark’s revenue was up 8.0% on a year-over-year basis. Research analysts anticipate that Aramark will post 1.56 earnings per share for the current fiscal year.

Aramark Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Monday, August 19th were given a $0.095 dividend. This represents a $0.38 annualized dividend and a yield of 1.00%. The ex-dividend date was Monday, August 19th. Aramark’s payout ratio 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.