Maverick Capital Ltd. Takes Position in Aramark (NYSE:ARMK)

Maverick Capital Ltd. bought a new stake in Aramark (NYSE:ARMK) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 38,626 shares of the company’s stock, valued at approximately $1,314,000.

Other institutional investors have also added to or reduced their stakes in the company. Rise Advisors LLC bought a new position in shares of Aramark in the 1st quarter valued at about $25,000. Scarborough Advisors LLC bought a new position in Aramark during the fourth quarter worth about $34,000. Twin Tree Management LP increased its position in Aramark by 32.0% during the first quarter. Twin Tree Management LP now owns 1,424 shares of the company’s stock worth $46,000 after buying an additional 345 shares during the last quarter. GAMMA Investing LLC raised its stake in Aramark by 319.3% in the second quarter. GAMMA Investing LLC now owns 1,677 shares of the company’s stock valued at $57,000 after buying an additional 1,277 shares during the period. Finally, Versant Capital Management Inc raised its stake in Aramark by 44,750.0% in the second quarter. Versant Capital Management Inc now owns 1,794 shares of the company’s stock valued at $61,000 after buying an additional 1,790 shares during the period.

Analysts Set New Price Targets

Several brokerages have recently commented on ARMK. Bank of America lifted their target price on Aramark from $36.00 to $39.00 and gave the stock a “buy” rating in a research note on Wednesday, August 7th. UBS Group lifted their price objective on shares of Aramark from $35.00 to $40.00 and gave the stock a “buy” rating in a research report on Friday, June 21st. JPMorgan Chase & Co. increased their price objective on shares of Aramark from $39.00 to $41.00 and gave the company an “overweight” rating in a research report on Monday, September 9th. Truist Financial lifted their target price on shares of Aramark from $37.00 to $42.00 and gave the stock a “buy” rating in a report on Thursday, September 12th. Finally, Oppenheimer upped their price target on shares of Aramark from $36.00 to $39.00 and gave the company an “outperform” rating in a research note on Wednesday, June 12th. Three equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $37.36.

Aramark Stock Performance

Shares of NYSE:ARMK opened at $38.45 on Friday. Aramark has a 12-month low of $23.95 and a 12-month high of $38.99. The company’s 50 day moving average price is $35.76 and its two-hundred day moving average price is $33.59. The firm has a market cap of $10.11 billion, a PE ratio of 16.15 and a beta of 1.62. The company has a quick ratio of 0.86, a current ratio of 0.96 and a debt-to-equity ratio of 1.71.

Aramark (NYSE:ARMK) last issued its quarterly earnings results on Tuesday, August 6th. The company reported $0.31 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.30 by $0.01. The business had revenue of $4.38 billion for the quarter, compared to the consensus estimate of $4.31 billion. Aramark had a return on equity of 14.09% and a net margin of 1.93%. The firm’s quarterly revenue was up 8.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.36 earnings per share. Equities research analysts predict that Aramark will post 1.56 earnings per share for the current year.

Aramark Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Monday, August 19th were paid a $0.095 dividend. This represents a $0.38 dividend on an annualized basis and a yield of 0.99%. The ex-dividend date was Monday, August 19th. Aramark’s dividend payout ratio (DPR) is presently 15.97%.

Aramark Company Profile

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.