BlackRock Inc. increased its holdings in shares of Aramark (NYSE:ARMK) by 1.5% in the third quarter, according to its most recent filing with the SEC. The fund owned 13,898,487 shares of the company’s stock after acquiring an additional 207,441 shares during the period. BlackRock Inc. owned about 0.06% of Aramark worth $597,916,000 at the end of the most recent quarter.
Several other hedge funds have also modified their holdings of the stock. IFP Advisors Inc raised its position in Aramark by 985.5% during the 3rd quarter. IFP Advisors Inc now owns 2,399 shares of the company’s stock valued at $103,000 after purchasing an additional 2,178 shares in the last quarter. Point72 Hong Kong Ltd bought a new stake in Aramark during the 2nd quarter valued at $161,000. Fuller & Thaler Asset Management Inc. raised its position in Aramark by 49.0% during the 2nd quarter. Fuller & Thaler Asset Management Inc. now owns 5,140 shares of the company’s stock valued at $191,000 after purchasing an additional 1,690 shares in the last quarter. D.A. Davidson & CO. bought a new stake in Aramark during the 2nd quarter valued at $241,000. Finally, Aristotle Atlantic Partners LLC raised its position in Aramark by 26.7% during the 2nd quarter. Aristotle Atlantic Partners LLC now owns 6,660 shares of the company’s stock valued at $247,000 after purchasing an additional 1,404 shares in the last quarter. 99.63% of the stock is owned by hedge funds and other institutional investors.
ARMK has been the subject of a number of research analyst reports. ValuEngine lowered Aramark from a “hold” rating to a “sell” rating in a research report on Friday, October 26th. Nomura lifted their target price on Aramark from $48.00 to $50.00 and gave the company a “buy” rating in a research report on Friday, September 7th. Stifel Nicolaus reaffirmed a “buy” rating and set a $47.00 target price on shares of Aramark in a research report on Sunday, November 18th. Bank of America initiated coverage on Aramark in a research report on Tuesday, October 23rd. They set a “buy” rating and a $49.00 target price for the company. Finally, Royal Bank of Canada started coverage on Aramark in a research report on Monday, November 19th. They set an “outperform” rating and a $47.00 target price for the company. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have given a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $47.30.
ARMK opened at $37.50 on Thursday. The firm has a market capitalization of $9.39 billion, a PE ratio of 18.84, a P/E/G ratio of 1.38 and a beta of 0.89. The company has a debt-to-equity ratio of 2.38, a current ratio of 1.17 and a quick ratio of 0.87. Aramark has a 12 month low of $33.98 and a 12 month high of $46.09.
Aramark (NYSE:ARMK) last released its quarterly earnings results on Tuesday, November 13th. The company reported $0.70 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.67 by $0.03. The firm had revenue of $3.91 billion during the quarter, compared to analyst estimates of $3.96 billion. Aramark had a return on equity of 17.76% and a net margin of 3.60%. The business’s revenue for the quarter was up 7.1% compared to the same quarter last year. During the same period in the previous year, the company posted $0.54 EPS. Research analysts expect that Aramark will post 2.26 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, December 6th. Stockholders of record on Monday, November 26th will be given a $0.11 dividend. This represents a $0.44 annualized dividend and a dividend yield of 1.17%. This is a positive change from Aramark’s previous quarterly dividend of $0.11. The ex-dividend date is Friday, November 23rd. Aramark’s payout ratio is presently 22.11%.
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Aramark provides food, facilities, and uniform services to education, healthcare, business and industry, sports, leisure, and corrections clients in North America and internationally. The company operates through three segments: Food and Support Services North America, Food and Support Services International, Uniform and Career Apparel.
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