Global Assets Advisory LLC Acquires New Position in Aramark (NYSE:ARMK)

Global Assets Advisory LLC bought a new position in shares of Aramark (NYSE:ARMK) during the first quarter, Holdings Channel reports. The fund bought 16,135 shares of the company’s stock, valued at approximately $500,000.

Several other hedge funds have also made changes to their positions in the company. Treasurer of the State of North Carolina lifted its holdings in Aramark by 0.4% in the third quarter. Treasurer of the State of North Carolina now owns 106,146 shares of the company’s stock valued at $3,683,000 after acquiring an additional 420 shares during the last quarter. M&T Bank Corp grew its holdings in shares of Aramark by 5.7% during the 4th quarter. M&T Bank Corp now owns 8,129 shares of the company’s stock worth $229,000 after purchasing an additional 442 shares during the period. New York Life Investment Management LLC increased its position in shares of Aramark by 1.7% during the 4th quarter. New York Life Investment Management LLC now owns 28,127 shares of the company’s stock worth $790,000 after purchasing an additional 462 shares during the last quarter. Rise Advisors LLC purchased a new stake in Aramark in the 1st quarter valued at about $25,000. Finally, Quadrant Capital Group LLC boosted its stake in Aramark by 44.0% during the fourth quarter. Quadrant Capital Group LLC now owns 2,716 shares of the company’s stock worth $76,000 after buying an additional 830 shares during the period.

Aramark Stock Performance

Shares of ARMK stock opened at $33.67 on Friday. Aramark has a 12 month low of $23.95 and a 12 month high of $34.25. The company has a current ratio of 1.25, a quick ratio of 1.11 and a debt-to-equity ratio of 2.03. The company has a market cap of $8.85 billion, a P/E ratio of 14.15, a PEG ratio of 1.36 and a beta of 1.56. The firm has a fifty day moving average price of $32.62 and a 200 day moving average price of $30.89.

Aramark (NYSE:ARMK) last released its quarterly earnings data on Tuesday, May 7th. The company reported $0.29 EPS for the quarter, beating analysts’ consensus estimates of $0.26 by $0.03. The business had revenue of $4.20 billion for the quarter, compared to the consensus estimate of $4.25 billion. Aramark had a return on equity of 13.82% and a net margin of 3.43%. Sell-side analysts predict that Aramark will post 1.57 earnings per share for the current fiscal year.

Aramark Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, May 28th. Stockholders of record on Monday, May 13th were given a dividend of $0.095 per share. The ex-dividend date of this dividend was Friday, May 10th. This represents a $0.38 annualized dividend and a dividend yield of 1.13%. Aramark’s dividend payout ratio is presently 15.97%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on ARMK shares. Truist Financial increased their price objective on shares of Aramark from $35.00 to $37.00 and gave the stock a “buy” rating in a research report on Wednesday, March 20th. UBS Group lifted their price objective on Aramark from $35.00 to $40.00 and gave the company a “buy” rating in a research note on Friday, June 21st. Robert W. Baird raised their target price on Aramark from $35.00 to $37.00 and gave the company a “neutral” rating in a report on Wednesday, May 8th. Finally, Oppenheimer boosted their price target on shares of Aramark from $36.00 to $39.00 and gave the stock an “outperform” rating in a research note on Wednesday, June 12th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $34.89.

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.