Aramark (NYSE:ARMK) Shares Up 0.6% – What’s Next?

Aramark (NYSE:ARMK) shares rose 0.6% during trading on Thursday . The stock traded as high as $38.28 and last traded at $38.11. Approximately 331,738 shares traded hands during trading, a decline of 83% from the average daily volume of 1,932,905 shares. The stock had previously closed at $37.87.

Analyst Ratings Changes

Several research firms recently issued reports on ARMK. Royal Bank of Canada reiterated an “outperform” rating and issued a $47.00 price objective on shares of Aramark in a report on Thursday. The Goldman Sachs Group increased their price target on shares of Aramark from $38.00 to $41.00 and gave the stock a “buy” rating in a research report on Wednesday, October 16th. Morgan Stanley upped their target price on shares of Aramark from $40.00 to $43.00 and gave the stock an “equal weight” rating in a research note on Thursday, December 12th. JPMorgan Chase & Co. raised their price target on shares of Aramark from $41.00 to $45.00 and gave the company an “overweight” rating in a research report on Tuesday, November 12th. Finally, Truist Financial upped their price objective on Aramark from $42.00 to $46.00 and gave the stock a “buy” rating in a research report on Tuesday, November 12th. Three research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat, Aramark has an average rating of “Moderate Buy” and a consensus price target of $43.00.

Aramark Trading Up 0.0 %

The business has a fifty day moving average of $38.67 and a two-hundred day moving average of $37.70. The firm has a market cap of $10.03 billion, a price-to-earnings ratio of 38.33 and a beta of 1.64. The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.72 and a current ratio of 0.81.

Aramark (NYSE:ARMK) last announced its quarterly earnings results on Tuesday, February 4th. The company reported $0.51 earnings per share for the quarter, beating analysts’ consensus estimates of $0.48 by $0.03. The business had revenue of $4.55 billion during the quarter, compared to analysts’ expectations of $4.61 billion. Aramark had a return on equity of 14.06% and a net margin of 1.51%. The business’s revenue for the quarter was up 3.3% on a year-over-year basis. During the same quarter last year, the business posted $0.41 earnings per share. As a group, equities analysts expect that Aramark will post 1.93 earnings per share for the current fiscal year.

Aramark Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, February 24th. Stockholders of record on Monday, February 10th will be paid a dividend of $0.105 per share. This represents a $0.42 dividend on an annualized basis and a dividend yield of 1.11%. This is a boost from Aramark’s previous quarterly dividend of $0.00. The ex-dividend date is Monday, February 10th. Aramark’s dividend payout ratio (DPR) is 42.42%.

Institutional Trading of Aramark

A number of large investors have recently made changes to their positions in the stock. CIBC Asset Management Inc lifted its stake in shares of Aramark by 3.6% during the 3rd quarter. CIBC Asset Management Inc now owns 7,621 shares of the company’s stock worth $295,000 after purchasing an additional 265 shares during the period. Oregon Public Employees Retirement Fund grew its stake in shares of Aramark by 0.5% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 53,654 shares of the company’s stock valued at $2,002,000 after acquiring an additional 276 shares in the last quarter. Jones Financial Companies Lllp increased its position in shares of Aramark by 45.7% during the fourth quarter. Jones Financial Companies Lllp now owns 988 shares of the company’s stock worth $37,000 after acquiring an additional 310 shares during the last quarter. Huntington National Bank lifted its stake in shares of Aramark by 100.3% in the third quarter. Huntington National Bank now owns 681 shares of the company’s stock worth $26,000 after acquiring an additional 341 shares in the last quarter. Finally, Cadent Capital Advisors LLC grew its stake in Aramark by 4.7% during the 3rd quarter. Cadent Capital Advisors LLC now owns 7,711 shares of the company’s stock valued at $299,000 after purchasing an additional 349 shares in the last quarter.

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.