Aramark (NYSE:ARMK) Shares Acquired by Wealth Enhancement Advisory Services LLC

Wealth Enhancement Advisory Services LLC lifted its holdings in shares of Aramark (NYSE:ARMK) by 25.6% during the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 9,239 shares of the company’s stock after acquiring an additional 1,883 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in Aramark were worth $314,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the business. abrdn plc lifted its position in shares of Aramark by 95.1% during the 4th quarter. abrdn plc now owns 77,724 shares of the company’s stock worth $2,184,000 after buying an additional 37,896 shares during the last quarter. Russell Investments Group Ltd. lifted its position in Aramark by 182.0% in the fourth quarter. Russell Investments Group Ltd. now owns 1,443,849 shares of the company’s stock valued at $40,435,000 after acquiring an additional 931,904 shares during the last quarter. New York Life Investment Management LLC boosted its stake in Aramark by 1.7% in the fourth quarter. New York Life Investment Management LLC now owns 28,127 shares of the company’s stock valued at $790,000 after acquiring an additional 462 shares in the last quarter. Benjamin F. Edwards & Company Inc. purchased a new position in shares of Aramark during the fourth quarter worth about $28,000. Finally, M&T Bank Corp increased its position in shares of Aramark by 5.7% during the fourth quarter. M&T Bank Corp now owns 8,129 shares of the company’s stock worth $229,000 after purchasing an additional 442 shares in the last quarter.

Wall Street Analysts Forecast Growth

Several analysts recently commented on ARMK shares. Truist Financial downgraded shares of Aramark from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, August 7th. UBS Group boosted their price target on Aramark from $35.00 to $40.00 and gave the company a “buy” rating in a research report on Friday, June 21st. Deutsche Bank Aktiengesellschaft raised Aramark from a “hold” rating to a “buy” rating and increased their price objective for the stock from $36.00 to $39.00 in a research report on Wednesday, August 7th. Robert W. Baird upped their price target on Aramark from $37.00 to $38.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 7th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Aramark from $35.00 to $39.00 and gave the company an “overweight” rating in a research report on Wednesday, August 7th. Five analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, Aramark currently has an average rating of “Moderate Buy” and an average price target of $35.82.

Aramark Stock Up 0.1 %

ARMK opened at $35.56 on Monday. The company has a market cap of $9.35 billion, a price-to-earnings ratio of 14.94, a PEG ratio of 1.77 and a beta of 1.59. The company has a debt-to-equity ratio of 2.03, a quick ratio of 1.11 and a current ratio of 1.25. Aramark has a one year low of $23.95 and a one year high of $36.55. The business’s fifty day moving average is $33.91 and its two-hundred day moving average is $32.54.

Aramark (NYSE:ARMK) last released its quarterly earnings results on Tuesday, August 6th. The company reported $0.31 EPS for the quarter, beating the consensus estimate of $0.30 by $0.01. Aramark had a net margin of 3.43% and a return on equity of 13.82%. The business had revenue of $4.38 billion for the quarter, compared to analyst estimates of $4.31 billion. During the same period in the prior year, the business earned $0.36 earnings per share. The company’s quarterly revenue was up 8.0% on a year-over-year basis. Analysts anticipate that Aramark will post 1.57 EPS for the current fiscal year.

Aramark Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 3rd. Investors of record on Monday, August 19th will be given a dividend of $0.095 per share. This represents a $0.38 dividend on an annualized basis and a yield of 1.07%. The ex-dividend date is Monday, August 19th. Aramark’s dividend payout ratio is presently 15.97%.

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.