Advisors Asset Management Inc. raised its holdings in shares of Aramark (NYSE:ARMK – Get Rating) by 26.7% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 33,143 shares of the company’s stock after purchasing an additional 6,981 shares during the period. Advisors Asset Management Inc.’s holdings in Aramark were worth $1,015,000 as of its most recent SEC filing.
Several other institutional investors have also recently added to or reduced their stakes in ARMK. PNC Financial Services Group Inc. boosted its position in Aramark by 35.9% during the 1st quarter. PNC Financial Services Group Inc. now owns 1,693 shares of the company’s stock valued at $64,000 after purchasing an additional 447 shares during the period. Prospera Financial Services Inc acquired a new position in shares of Aramark during the first quarter valued at $141,000. MetLife Investment Management LLC bought a new position in shares of Aramark during the first quarter worth about $174,000. Empirical Financial Services LLC d.b.a. Empirical Wealth Management bought a new stake in Aramark in the 1st quarter valued at about $200,000. Finally, Prudential PLC acquired a new position in Aramark during the 1st quarter valued at about $203,000.
Aramark Trading Down 0.1 %
Aramark stock opened at $40.50 on Thursday. The firm has a market cap of $10.44 billion, a price-to-earnings ratio of 66.39, a price-to-earnings-growth ratio of 0.54 and a beta of 1.66. Aramark has a 1 year low of $28.74 and a 1 year high of $41.20. The firm’s 50 day moving average price is $35.46 and its two-hundred day moving average price is $34.18. The company has a debt-to-equity ratio of 2.77, a quick ratio of 1.05 and a current ratio of 1.25.
Aramark (NYSE:ARMK – Get Rating) last issued its earnings results on Tuesday, November 15th. The company reported $0.49 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.49. Aramark had a return on equity of 8.25% and a net margin of 1.00%. The business had revenue of $4.39 billion for the quarter, compared to analysts’ expectations of $4.11 billion. During the same period in the previous year, the firm posted $0.21 EPS. The company’s quarterly revenue was up 23.6% on a year-over-year basis. On average, research analysts predict that Aramark will post 1.18 EPS for the current fiscal year.
Aramark Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Monday, December 5th. Stockholders of record on Tuesday, November 22nd will be given a $0.11 dividend. This represents a $0.44 annualized dividend and a dividend yield of 1.09%. The ex-dividend date of this dividend is Monday, November 21st. Aramark’s dividend payout ratio (DPR) is currently 72.13%.
Analyst Ratings Changes
A number of equities research analysts have recently weighed in on the company. StockNews.com initiated coverage on Aramark in a report on Wednesday, October 12th. They set a “hold” rating on the stock. Royal Bank of Canada raised their price target on Aramark from $38.00 to $45.00 in a report on Wednesday. Deutsche Bank Aktiengesellschaft increased their target price on shares of Aramark from $40.00 to $43.00 in a research report on Wednesday. Morgan Stanley boosted their price target on shares of Aramark from $38.00 to $41.00 and gave the stock an “equal weight” rating in a research report on Wednesday. Finally, Jefferies Financial Group reiterated a “hold” rating and set a $36.00 price objective on shares of Aramark in a research note on Tuesday, October 25th. Six analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $41.67.
About Aramark
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Aramark engages in the provision of food, facilities, and uniform services. It operates through the following segments: Food and Support Services United States (FSS United States), Food and Support Services International (FSS International), and Uniform. The FSS United States segment offers food, hospitality and facility services for school districts, colleges and universities, healthcare facilities, businesses, sports, entertainment and recreational venues, conference and convention centers, national and state parks, and correctional institutions.
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