Algert Global LLC Purchases New Stake in Aramark (NYSE:ARMK)

Algert Global LLC purchased a new stake in Aramark (NYSE:ARMK) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 25,116 shares of the company’s stock, valued at approximately $854,000.

Other hedge funds have also added to or reduced their stakes in the company. Rise Advisors LLC bought a new position in Aramark during the first quarter worth about $25,000. Scarborough Advisors LLC bought a new position in Aramark during the fourth quarter worth about $34,000. Twin Tree Management LP boosted its holdings in Aramark by 32.0% during the first quarter. Twin Tree Management LP now owns 1,424 shares of the company’s stock worth $46,000 after buying an additional 345 shares during the last quarter. GAMMA Investing LLC boosted its holdings in Aramark by 319.3% during 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 boosted its holdings in Aramark by 44,750.0% during the second quarter. Versant Capital Management Inc now owns 1,794 shares of the company’s stock worth $61,000 after buying an additional 1,790 shares during the last quarter.

Aramark Stock Down 0.3 %

NYSE:ARMK opened at $37.82 on Friday. Aramark has a twelve month low of $24.13 and a twelve month high of $38.99. The firm has a market capitalization of $9.95 billion, a price-to-earnings ratio of 15.89 and a beta of 1.62. The company has a quick ratio of 0.86, a current ratio of 0.96 and a debt-to-equity ratio of 1.71. The stock’s 50 day moving average price is $36.35 and its two-hundred day moving average price is $33.87.

Aramark (NYSE:ARMK) last issued its earnings results on Tuesday, August 6th. The company reported $0.31 earnings per share for the quarter, topping analysts’ consensus estimates 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 the consensus estimate of $4.31 billion. During the same period in the previous year, the company earned $0.36 earnings per share. The firm’s revenue for the quarter was up 8.0% on a year-over-year basis. Equities research analysts expect that Aramark will post 1.56 earnings per share for the current fiscal year.

Aramark Dividend Announcement

The firm 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. The ex-dividend date of this dividend was Monday, August 19th. This represents a $0.38 annualized dividend and a yield of 1.00%. Aramark’s dividend payout ratio is 15.97%.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on ARMK. Truist Financial raised their target price on Aramark from $37.00 to $42.00 and gave the stock a “buy” rating in a report on Thursday, September 12th. Robert W. Baird raised their price target on Aramark from $37.00 to $38.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 7th. JPMorgan Chase & Co. raised their price target on Aramark from $39.00 to $41.00 and gave the stock an “overweight” rating in a research report on Monday, September 9th. UBS Group raised their price target on Aramark from $35.00 to $40.00 and gave the stock a “buy” rating in a research report on Friday, June 21st. Finally, Deutsche Bank Aktiengesellschaft raised Aramark from a “hold” rating to a “buy” rating and raised their price target for the stock from $36.00 to $39.00 in a research report on Wednesday, August 7th. Three analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat, Aramark has a consensus rating of “Moderate Buy” and a consensus price target of $37.69.

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.