Assetmark Inc. Buys 830 Shares of Aramark (NYSE:ARMK)

Assetmark Inc. increased its stake in shares of Aramark (NYSE:ARMK) by 62.7% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 2,154 shares of the company’s stock after acquiring an additional 830 shares during the period. Assetmark Inc.’s holdings in Aramark were worth $83,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also bought and sold shares of ARMK. Janney Montgomery Scott LLC raised its holdings in Aramark by 36.3% during the first quarter. Janney Montgomery Scott LLC now owns 16,020 shares of the company’s stock worth $521,000 after acquiring an additional 4,265 shares in the last quarter. Sei Investments Co. raised its holdings in Aramark by 15.2% during the first quarter. Sei Investments Co. now owns 93,574 shares of the company’s stock worth $3,043,000 after acquiring an additional 12,342 shares in the last quarter. State Board of Administration of Florida Retirement System increased its position in Aramark by 6.5% during the first quarter. State Board of Administration of Florida Retirement System now owns 245,766 shares of the company’s stock worth $8,798,000 after buying an additional 15,080 shares during the last quarter. Covestor Ltd increased its position in Aramark by 179.3% during the first quarter. Covestor Ltd now owns 2,888 shares of the company’s stock worth $94,000 after buying an additional 1,854 shares during the last quarter. Finally, O Shaughnessy Asset Management LLC acquired a new position in Aramark during the first quarter worth approximately $249,000.

Analyst Ratings Changes

ARMK has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. boosted their price target on Aramark from $41.00 to $45.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 12th. StockNews.com raised Aramark from a “sell” rating to a “hold” rating in a research report on Tuesday, October 29th. Truist Financial boosted their price target on Aramark from $42.00 to $46.00 and gave the stock a “buy” rating in a research report on Tuesday, November 12th. UBS Group boosted their price target on Aramark from $40.00 to $44.00 and gave the stock a “buy” rating in a research report on Tuesday, October 8th. Finally, Royal Bank of Canada raised Aramark from a “sector perform” rating to an “outperform” rating and boosted their price target for the stock from $36.00 to $42.50 in a research report on Tuesday, September 17th. Three research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $42.23.

Aramark Stock Down 3.4 %

NYSE ARMK opened at $37.36 on Monday. The business has a fifty day moving average price of $38.28 and a two-hundred day moving average price of $35.26. The company has a debt-to-equity ratio of 1.42, a current ratio of 0.81 and a quick ratio of 0.86. Aramark has a fifty-two week low of $26.58 and a fifty-two week high of $42.04. The stock has a market capitalization of $9.84 billion, a PE ratio of 37.74 and a beta of 1.62.

Aramark (NYSE:ARMK) last released its earnings results on Monday, November 11th. The company reported $0.54 earnings per share for the quarter, hitting the consensus estimate of $0.54. Aramark had a return on equity of 14.06% and a net margin of 1.51%. The firm had revenue of $4.42 billion during the quarter, compared to analysts’ expectations of $4.46 billion. During the same period in the prior year, the company earned $0.64 earnings per share. The company’s quarterly revenue was up 5.2% on a year-over-year basis. Equities analysts expect that Aramark will post 1.92 earnings per share for the current fiscal year.

Aramark Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Monday, December 2nd will be paid a $0.001 dividend. This represents a $0.00 dividend on an annualized basis and a dividend yield of 0.01%. The ex-dividend date of this dividend is Monday, December 2nd. Aramark’s payout ratio is 38.38%.

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.