Aramark (NYSE:ARMK) Given New $41.00 Price Target at JPMorgan Chase & Co.

Aramark (NYSE:ARMK) had its price objective raised by JPMorgan Chase & Co. from $39.00 to $41.00 in a report published on Monday morning, Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the stock.

ARMK has been the subject of several other reports. UBS Group raised their price objective on Aramark from $35.00 to $40.00 and gave the stock a buy rating in a research note on Friday, June 21st. Robert W. Baird raised their price objective on Aramark from $37.00 to $38.00 and gave the stock a neutral rating in a research note on Wednesday, August 7th. Deutsche Bank Aktiengesellschaft upgraded Aramark from a hold rating to a buy rating and raised their price objective for the stock from $36.00 to $39.00 in a research note on Wednesday, August 7th. Truist Financial cut Aramark from a strong-buy rating to a hold rating in a research note on Wednesday, August 7th. Finally, Oppenheimer raised their price objective on Aramark from $36.00 to $39.00 and gave the stock an outperform rating in a research note on Wednesday, June 12th. Five research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Aramark presently has a consensus rating of Moderate Buy and a consensus target price of $36.54.

Aramark Price Performance

Shares of NYSE ARMK opened at $37.70 on Monday. The company has a debt-to-equity ratio of 1.71, a quick ratio of 0.86 and a current ratio of 0.96. The company has a market cap of $9.93 billion, a PE ratio of 15.83, a P/E/G ratio of 1.96 and a beta of 1.62. The business has a 50-day simple moving average of $34.40 and a two-hundred day simple moving average of $32.94. Aramark has a fifty-two week low of $23.95 and a fifty-two week high of $37.87.

Aramark (NYSE:ARMK) last issued its quarterly earnings results on Tuesday, August 6th. The company reported $0.31 earnings per share for the quarter, topping the consensus estimate of $0.30 by $0.01. The business had revenue of $4.38 billion during 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 company’s quarterly revenue was up 8.0% on a year-over-year basis. During the same quarter last year, the company earned $0.36 earnings per share. As a group, equities analysts expect that Aramark will post 1.57 EPS for the current fiscal year.

Aramark Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Monday, August 19th were given a dividend of $0.095 per share. This represents a $0.38 annualized dividend and a yield of 1.01%. The ex-dividend date was Monday, August 19th. Aramark’s dividend payout ratio is currently 15.97%.

Institutional Trading of Aramark

Several institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. grew its holdings in Aramark by 0.5% in the fourth quarter. Vanguard Group Inc. now owns 25,584,242 shares of the company’s stock valued at $718,917,000 after purchasing an additional 139,693 shares during the period. Capital International Investors boosted its stake in shares of Aramark by 0.4% in the first quarter. Capital International Investors now owns 23,712,814 shares of the company’s stock worth $771,141,000 after acquiring an additional 98,506 shares during the last quarter. Farallon Capital Management LLC boosted its stake in shares of Aramark by 5.5% in the first quarter. Farallon Capital Management LLC now owns 17,822,937 shares of the company’s stock worth $579,602,000 after acquiring an additional 923,683 shares during the last quarter. Janus Henderson Group PLC boosted its stake in shares of Aramark by 5.4% in the first quarter. Janus Henderson Group PLC now owns 13,391,832 shares of the company’s stock worth $435,501,000 after acquiring an additional 681,735 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA boosted its stake in shares of Aramark by 27.7% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 4,983,507 shares of the company’s stock worth $140,037,000 after acquiring an additional 1,081,358 shares during the last quarter.

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.