HighTower Advisors LLC Grows Position in Aramark (NYSE:ARMK)

HighTower Advisors LLC grew its position in shares of Aramark (NYSE:ARMK) by 2.5% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 16,504 shares of the company’s stock after acquiring an additional 395 shares during the quarter. HighTower Advisors LLC’s holdings in Aramark were worth $643,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in the company. Huntington National Bank grew its stake in Aramark by 100.3% in the 3rd quarter. Huntington National Bank now owns 681 shares of the company’s stock valued at $26,000 after purchasing an additional 341 shares during the period. Capital Performance Advisors LLP bought a new position in Aramark during the third quarter valued at about $28,000. UMB Bank n.a. grew its position in Aramark by 360.1% during the third quarter. UMB Bank n.a. now owns 773 shares of the company’s stock valued at $30,000 after buying an additional 605 shares during the period. Friedenthal Financial purchased a new stake in Aramark during the third quarter worth about $52,000. Finally, CWM LLC raised its position in Aramark by 112.6% in the third quarter. CWM LLC now owns 1,822 shares of the company’s stock worth $71,000 after acquiring an additional 965 shares during the period.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on ARMK. JPMorgan Chase & Co. raised their price target on shares of Aramark from $41.00 to $45.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 12th. Truist Financial raised their target price on Aramark from $42.00 to $46.00 and gave the stock a “buy” rating in a research report on Tuesday, November 12th. Stifel Nicolaus upped their price target on Aramark from $43.00 to $45.00 and gave the company a “buy” rating in a research report on Tuesday, November 12th. The Goldman Sachs Group boosted their price objective on Aramark from $38.00 to $41.00 and gave the company a “buy” rating in a research note on Wednesday, October 16th. Finally, Morgan Stanley upped their price objective on shares of Aramark from $40.00 to $43.00 and gave the company an “equal weight” rating in a report on Thursday, December 12th. Three investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, Aramark currently has an average rating of “Moderate Buy” and a consensus target price of $42.59.

Aramark Price Performance

ARMK stock opened at $37.41 on Friday. The firm has a 50 day moving average of $39.28 and a 200-day moving average of $36.54. The firm has a market capitalization of $9.91 billion, a P/E ratio of 37.79 and a beta of 1.63. Aramark has a 12 month low of $27.39 and a 12 month high of $42.49. The company has a current ratio of 0.81, a quick ratio of 0.72 and a debt-to-equity ratio of 1.42.

Aramark (NYSE:ARMK) last released its quarterly earnings results on Monday, November 11th. The company reported $0.54 EPS for the quarter, meeting analysts’ consensus estimates of $0.54. The firm had revenue of $4.42 billion during the quarter, compared to analyst estimates of $4.46 billion. Aramark had a net margin of 1.51% and a return on equity of 14.06%. The business’s revenue for the quarter was up 5.2% on a year-over-year basis. During the same period in the previous year, the business earned $0.64 EPS. As a group, sell-side analysts predict that Aramark will post 1.92 earnings per share for the current fiscal year.

Aramark Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, December 12th. Stockholders of record on Monday, December 2nd were given a dividend of $0.001 per share. The ex-dividend date of this dividend was Monday, December 2nd. This represents a $0.00 dividend on an annualized basis and a dividend yield of 0.01%. Aramark’s dividend payout ratio (DPR) is presently 42.42%.

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.