CIBC Asset Management Inc Has $295,000 Stake in Aramark (NYSE:ARMK)

CIBC Asset Management Inc raised its position in Aramark (NYSE:ARMK) by 3.6% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 7,621 shares of the company’s stock after acquiring an additional 265 shares during the quarter. CIBC Asset Management Inc’s holdings in Aramark were worth $295,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Huntington National Bank raised its stake in Aramark by 100.3% in the 3rd quarter. Huntington National Bank now owns 681 shares of the company’s stock valued at $26,000 after acquiring an additional 341 shares during the period. Capital Performance Advisors LLP bought a new position in shares of Aramark in the third quarter valued at about $28,000. UMB Bank n.a. lifted its stake in shares of Aramark by 360.1% during the 3rd quarter. UMB Bank n.a. now owns 773 shares of the company’s stock worth $30,000 after buying an additional 605 shares during the last quarter. Friedenthal Financial bought a new stake in shares of Aramark during the 3rd quarter worth about $52,000. Finally, GAMMA Investing LLC grew its stake in Aramark by 319.3% in the 2nd 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 last quarter.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the stock. JPMorgan Chase & Co. raised their price objective on shares of Aramark from $41.00 to $45.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 12th. Morgan Stanley lifted their price target on Aramark from $38.00 to $40.00 and gave the stock an “equal weight” rating in a report on Tuesday, November 12th. Stifel Nicolaus upped their price objective on Aramark from $43.00 to $45.00 and gave the company a “buy” rating in a report on Tuesday, November 12th. Robert W. Baird lifted their target price on Aramark from $38.00 to $44.00 and gave the stock a “neutral” rating in a report on Tuesday, November 12th. Finally, Truist Financial upped their price target on shares of Aramark from $42.00 to $46.00 and gave the company a “buy” rating in a research note on Tuesday, November 12th. Three investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat, Aramark has an average rating of “Moderate Buy” and a consensus price target of $42.23.

Aramark Price Performance

Shares of NYSE:ARMK opened at $40.41 on Friday. The company has a current ratio of 0.81, a quick ratio of 0.72 and a debt-to-equity ratio of 1.42. The stock has a market capitalization of $10.65 billion, a PE ratio of 39.35 and a beta of 1.62. The firm has a 50 day moving average of $38.29 and a 200-day moving average of $35.40. Aramark has a 12 month low of $26.58 and a 12 month high of $42.04.

Aramark (NYSE:ARMK) last issued its earnings results on Monday, November 11th. The company reported $0.54 earnings per share for the quarter, meeting analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $4.46 billion. During the same quarter last year, the business posted $0.64 EPS. The company’s revenue was up 5.2% compared to the same quarter last year. On average, equities research analysts predict that Aramark will post 1.92 EPS for the current fiscal year.

Aramark Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Monday, December 2nd will be issued a $0.001 dividend. The ex-dividend date is Monday, December 2nd. This represents a $0.00 dividend on an annualized basis and a dividend yield of 0.01%. Aramark’s dividend payout ratio (DPR) is currently 42.42%.

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.