Charles Schwab Investment Management Inc. Raises Stake in Aramark (NYSE:ARMK)

Charles Schwab Investment Management Inc. boosted its holdings in shares of Aramark (NYSE:ARMK) by 0.9% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 1,732,661 shares of the company’s stock after buying an additional 14,839 shares during the quarter. Charles Schwab Investment Management Inc. owned 0.66% of Aramark worth $67,106,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. O Shaughnessy Asset Management LLC purchased a new position in shares of Aramark during the first quarter worth $249,000. Price T Rowe Associates Inc. MD lifted its holdings in shares of Aramark by 7.1% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 166,589 shares of the company’s stock valued at $5,418,000 after buying an additional 11,062 shares during the period. Public Employees Retirement System of Ohio boosted its stake in shares of Aramark by 1.5% in the first quarter. Public Employees Retirement System of Ohio now owns 99,563 shares of the company’s stock worth $3,238,000 after buying an additional 1,487 shares during the last quarter. Tidal Investments LLC grew its holdings in Aramark by 21.5% during the first quarter. Tidal Investments LLC now owns 42,585 shares of the company’s stock worth $1,385,000 after acquiring an additional 7,549 shares during the period. Finally, Comerica Bank grew its holdings in Aramark by 14.9% during the first quarter. Comerica Bank now owns 126,658 shares of the company’s stock worth $4,119,000 after acquiring an additional 16,423 shares during the period.

Aramark Price Performance

Shares of Aramark stock opened at $40.77 on Friday. The stock has a market capitalization of $10.76 billion, a P/E ratio of 41.18 and a beta of 1.62. The business has a 50 day simple moving average of $38.62 and a two-hundred day simple moving average of $35.76. Aramark has a 12 month low of $26.58 and a 12 month high of $42.49. The company has a debt-to-equity ratio of 1.42, a current ratio of 0.81 and a quick ratio of 0.72.

Aramark (NYSE:ARMK) last posted its quarterly earnings data on Monday, November 11th. The company reported $0.54 EPS for the quarter, meeting 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 the consensus estimate of $4.46 billion. During the same period in the prior year, the company earned $0.64 EPS. The firm’s revenue was up 5.2% compared to the same quarter last year. As a group, analysts predict that Aramark will post 1.92 EPS for the current fiscal year.

Aramark Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Monday, December 2nd will be paid a dividend of $0.001 per share. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $0.00 annualized dividend and a yield of 0.01%. Aramark’s dividend payout ratio is presently 38.38%.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on ARMK shares. Stifel Nicolaus upped their price objective on Aramark from $43.00 to $45.00 and gave the stock a “buy” rating in a research report on Tuesday, November 12th. Royal Bank of Canada raised shares of Aramark from a “sector perform” rating to an “outperform” rating and increased their price target for the stock from $36.00 to $42.50 in a report on Tuesday, September 17th. JPMorgan Chase & Co. lifted their price objective on shares of Aramark from $41.00 to $45.00 and gave the company an “overweight” rating in a report on Tuesday, November 12th. Truist Financial increased their target price on shares of Aramark from $42.00 to $46.00 and gave the stock a “buy” rating in a research note on Tuesday, November 12th. Finally, The Goldman Sachs Group raised their target price on Aramark from $38.00 to $41.00 and gave the company a “buy” rating in a research report on Wednesday, October 16th. Three equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, Aramark currently has an average rating of “Moderate Buy” and an average target price of $42.23.

Aramark 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.