GAMMA Investing LLC Acquires 1,630 Shares of Aramark (NYSE:ARMK)

GAMMA Investing LLC lifted its holdings in shares of Aramark (NYSE:ARMK) by 97.2% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 3,307 shares of the company’s stock after acquiring an additional 1,630 shares during the quarter. GAMMA Investing LLC’s holdings in Aramark were worth $128,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in ARMK. Scarborough Advisors LLC acquired a new stake in Aramark during the 4th quarter valued at $34,000. Royal London Asset Management Ltd. lifted its stake in shares of Aramark by 2.1% during the 4th quarter. Royal London Asset Management Ltd. now owns 120,520 shares of the company’s stock worth $3,387,000 after buying an additional 2,472 shares during the last quarter. Vanguard Group Inc. boosted its holdings in shares of Aramark by 0.5% during the 4th quarter. Vanguard Group Inc. now owns 25,584,242 shares of the company’s stock worth $718,917,000 after buying an additional 139,693 shares during the period. Rise Advisors LLC acquired a new position in Aramark in the 1st quarter valued at about $25,000. Finally, Perpetual Ltd raised its holdings in Aramark by 3.0% in the 1st quarter. Perpetual Ltd now owns 1,404,905 shares of the company’s stock valued at $45,041,000 after acquiring an additional 40,520 shares during the period.

Analysts Set New Price Targets

ARMK has been the topic of a number of recent research reports. Bank of America increased 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. StockNews.com cut Aramark from a “hold” rating to a “sell” rating in a research report on Tuesday, October 8th. Truist Financial boosted their target price on shares of Aramark from $37.00 to $42.00 and gave the company a “buy” rating in a research report on Thursday, September 12th. Morgan Stanley lifted their price objective on shares of Aramark from $35.00 to $38.00 and gave the stock an “equal weight” rating in a research note on Monday, September 9th. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of Aramark from a “hold” rating to a “buy” rating and increased their target price for the stock from $36.00 to $39.00 in a research report on Wednesday, August 7th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $38.95.

Aramark Stock Performance

NYSE ARMK opened at $38.11 on Monday. The firm’s 50 day simple moving average is $36.74 and its 200 day simple moving average is $34.10. The firm has a market capitalization of $10.02 billion, a price-to-earnings ratio of 16.01 and a beta of 1.62. The company has a current ratio of 0.96, a quick ratio of 0.86 and a debt-to-equity ratio of 1.71. Aramark has a 1 year low of $25.28 and a 1 year high of $38.99.

Aramark (NYSE:ARMK) last issued its earnings results on Tuesday, August 6th. The company reported $0.31 earnings per share for the quarter, beating analysts’ consensus estimates of $0.30 by $0.01. Aramark had a return on equity of 14.09% and a net margin of 1.93%. The firm had revenue of $4.38 billion for the quarter, compared to the consensus estimate of $4.31 billion. During the same quarter last year, the business posted $0.36 EPS. The company’s revenue was up 8.0% compared to the same quarter last year. As a group, research analysts expect that Aramark will post 1.55 earnings per share for the current fiscal year.

Aramark Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Monday, August 19th were issued a $0.095 dividend. The ex-dividend date of this dividend was Monday, August 19th. This represents a $0.38 dividend on an annualized basis and a dividend yield of 1.00%. Aramark’s dividend payout ratio (DPR) is currently 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.