State of New Jersey Common Pension Fund D Has $3.13 Million Position in Aramark (NYSE:ARMK)

State of New Jersey Common Pension Fund D lowered its position in Aramark (NYSE:ARMK) by 32.4% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 92,072 shares of the company’s stock after selling 44,080 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Aramark were worth $3,132,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Rise Advisors LLC bought a new stake in Aramark during the first quarter worth approximately $25,000. Scarborough Advisors LLC bought a new stake in Aramark during the fourth quarter worth approximately $34,000. Twin Tree Management LP boosted 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 purchasing an additional 345 shares during the period. GAMMA Investing LLC boosted its position in Aramark by 319.3% during the second quarter. GAMMA Investing LLC now owns 1,677 shares of the company’s stock worth $57,000 after purchasing an additional 1,277 shares during the period. Finally, Versant Capital Management Inc boosted its position in Aramark by 44,750.0% during the second quarter. Versant Capital Management Inc now owns 1,794 shares of the company’s stock worth $61,000 after purchasing an additional 1,790 shares during the period.

Aramark Stock Up 0.8 %

Shares of NYSE:ARMK opened at $38.60 on Wednesday. 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 $35.12 and its two-hundred day moving average price is $33.30. The company has a quick ratio of 0.86, a current ratio of 0.96 and a debt-to-equity ratio of 1.71. The firm has a market cap of $10.15 billion, a P/E ratio of 16.22, a P/E/G ratio of 2.04 and a beta of 1.62.

Aramark (NYSE:ARMK) last issued its quarterly earnings data on Tuesday, August 6th. The company reported $0.31 EPS for the quarter, topping analysts’ consensus estimates of $0.30 by $0.01. Aramark had a net margin of 1.93% and a return on equity of 14.09%. The firm had revenue of $4.38 billion for the quarter, compared to analyst estimates of $4.31 billion. During the same quarter in the prior year, the firm earned $0.36 EPS. The company’s revenue was up 8.0% on a year-over-year basis. As a group, research analysts forecast that Aramark will post 1.57 EPS for the current fiscal year.

Aramark Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Monday, August 19th were given a dividend of $0.095 per share. The ex-dividend date of this dividend was Monday, August 19th. This represents a $0.38 dividend on an annualized basis and a yield of 0.98%. Aramark’s payout ratio is presently 15.97%.

Analysts Set New Price Targets

ARMK has been the topic of several analyst reports. Bank of America boosted their price target on shares of Aramark from $36.00 to $39.00 and gave the company a “buy” rating in a report on Wednesday, August 7th. JPMorgan Chase & Co. boosted their price target on shares of Aramark from $39.00 to $41.00 and gave the company an “overweight” rating in a report on Monday, September 9th. Deutsche Bank Aktiengesellschaft raised shares of Aramark from a “hold” rating to a “buy” rating and boosted their price target for the company from $36.00 to $39.00 in a report on Wednesday, August 7th. Truist Financial boosted their price target on shares of Aramark from $37.00 to $42.00 and gave the company a “buy” rating in a report on Thursday, September 12th. Finally, UBS Group boosted their price target on shares of Aramark from $35.00 to $40.00 and gave the company a “buy” rating in a report on Friday, June 21st. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $37.36.

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.