Aramark (NYSE:ARMK) Now Covered by Analysts at Citigroup

Citigroup assumed coverage on shares of Aramark (NYSE:ARMK) in a research note released on Monday, Marketbeat reports. The firm issued a buy rating and a $48.00 price target on the stock.

Other analysts also recently issued reports about the stock. Truist Financial increased their price objective on shares of Aramark from $42.00 to $46.00 and gave the company a “buy” rating in a research report on Tuesday, November 12th. Morgan Stanley raised their price target 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. Stifel Nicolaus increased their price objective on shares of Aramark from $43.00 to $45.00 and gave the company a “buy” rating in a research report on Tuesday, November 12th. Royal Bank of Canada restated an “outperform” rating and issued a $47.00 price target on shares of Aramark in a research note on Thursday, February 6th. Finally, StockNews.com cut shares of Aramark from a “buy” rating to a “hold” rating in a research note on Tuesday, January 7th. Three analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat.com, Aramark presently has a consensus rating of “Moderate Buy” and an average price target of $43.42.

Aramark Trading Up 3.5 %

NYSE:ARMK opened at $37.21 on Monday. The company has a 50-day moving average price of $37.87 and a 200-day moving average price of $38.09. The stock has a market cap of $9.86 billion, a price-to-earnings ratio of 29.30 and a beta of 1.64. The company has a current ratio of 0.94, a quick ratio of 0.84 and a debt-to-equity ratio of 1.61. Aramark has a 12 month low of $29.82 and a 12 month high of $42.49.

Aramark (NYSE:ARMK) last announced its quarterly earnings data on Tuesday, February 4th. The company reported $0.51 EPS for the quarter, beating the consensus estimate of $0.48 by $0.03. The business had revenue of $4.55 billion during the quarter, compared to analyst estimates of $4.61 billion. Aramark had a return on equity of 14.72% and a net margin of 1.94%. The company’s revenue for the quarter was up 3.3% on a year-over-year basis. During the same quarter last year, the firm posted $0.41 earnings per share. Equities analysts predict that Aramark will post 1.92 EPS for the current year.

Aramark Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, February 24th. Investors of record on Monday, February 10th were given a $0.105 dividend. The ex-dividend date of this dividend was Monday, February 10th. This represents a $0.42 annualized dividend and a yield of 1.13%. This is a positive change from Aramark’s previous quarterly dividend of $0.00. Aramark’s dividend payout ratio (DPR) is currently 33.07%.

Institutional Trading of Aramark

A number of institutional investors have recently bought and sold shares of ARMK. CIBC Asset Management Inc grew its position in Aramark by 3.6% in the 3rd quarter. CIBC Asset Management Inc now owns 7,621 shares of the company’s stock valued at $295,000 after acquiring an additional 265 shares during the last quarter. Oregon Public Employees Retirement Fund lifted its holdings in Aramark by 0.5% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 53,654 shares of the company’s stock valued at $2,002,000 after buying an additional 276 shares in the last quarter. Jones Financial Companies Lllp lifted its holdings in Aramark by 45.7% during the 4th quarter. Jones Financial Companies Lllp now owns 988 shares of the company’s stock valued at $37,000 after buying an additional 310 shares in the last quarter. Huntington National Bank boosted its position 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 buying an additional 341 shares during the period. Finally, Bessemer Group Inc. grew its stake in Aramark by 93.0% in the 4th quarter. Bessemer Group Inc. now owns 770 shares of the company’s stock worth $29,000 after acquiring an additional 371 shares in the last quarter.

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.