Truist Financial Corp Has $305,000 Holdings in Aramark (NYSE:ARMK)

Truist Financial Corp lifted its position in shares of Aramark (NYSE:ARMK) by 20.1% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 8,961 shares of the company’s stock after purchasing an additional 1,497 shares during the quarter. Truist Financial Corp’s holdings in Aramark were worth $305,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the company. Algert Global LLC acquired a new position in Aramark during the second quarter worth $854,000. Susquehanna International Group Ltd. acquired a new stake in shares of Aramark in the 2nd quarter worth about $319,000. Millennium Management LLC lifted its position in Aramark by 822.3% in the 2nd quarter. Millennium Management LLC now owns 1,677,629 shares of the company’s stock valued at $57,073,000 after acquiring an additional 1,495,737 shares in the last quarter. Maverick Capital Ltd. acquired a new position in Aramark during the 2nd quarter valued at about $1,314,000. Finally, AQR Capital Management LLC raised its stake in shares of Aramark by 1.0% in the second quarter. AQR Capital Management LLC now owns 896,698 shares of the company’s stock worth $30,282,000 after purchasing an additional 8,576 shares during the last quarter.

Aramark Trading Up 1.7 %

NYSE:ARMK opened at $39.67 on Friday. The firm’s 50 day moving average is $37.28 and its 200 day moving average is $34.33. Aramark has a 12 month low of $25.92 and a 12 month high of $39.87. The stock has a market capitalization of $10.43 billion, a PE ratio of 16.67 and a beta of 1.62. 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 (NYSE:ARMK) last issued its quarterly earnings results on Tuesday, August 6th. The company reported $0.31 EPS for the quarter, beating analysts’ consensus estimates of $0.30 by $0.01. Aramark had a return on equity of 14.09% and a net margin of 1.93%. The firm had revenue of $4.38 billion for the quarter, compared to analysts’ expectations of $4.31 billion. During the same quarter in the prior year, the firm earned $0.36 EPS. The business’s revenue for the quarter was up 8.0% compared to the same quarter last year. Sell-side analysts expect that Aramark will post 1.55 earnings per share for the current year.

Aramark Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders 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 dividend yield of 0.96%. Aramark’s payout ratio is 15.97%.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on ARMK. Deutsche Bank Aktiengesellschaft raised Aramark from a “hold” rating to a “buy” rating and lifted their target price for the company from $36.00 to $39.00 in a research report on Wednesday, August 7th. Morgan Stanley upped their target price on shares of Aramark from $35.00 to $38.00 and gave the stock an “equal weight” rating in a research note on Monday, September 9th. Bank of America raised their price target 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. JPMorgan Chase & Co. upped their price objective 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. Finally, Truist Financial lifted their target price on shares of Aramark from $37.00 to $42.00 and gave the stock a “buy” rating in a research report on Thursday, September 12th. One research analyst has rated the stock with a sell rating, two have given a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, Aramark has a consensus rating of “Moderate Buy” and a consensus price target of $39.68.

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.