Aramark (NYSE:ARMK) Stake Increased by Bank of America Corp DE

Bank of America Corp DE raised its position in shares of Aramark (NYSE:ARMK - Free Report) by 4.5% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,457,094 shares of the company's stock after buying an additional 105,219 shares during the quarter. Bank of America Corp DE owned about 0.93% of Aramark worth $91,674,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Bessemer Group Inc. raised its stake in Aramark by 93.0% during the fourth quarter. Bessemer Group Inc. now owns 770 shares of the company's stock valued at $29,000 after buying an additional 371 shares in the last quarter. Jones Financial Companies Lllp raised its position in shares of Aramark by 45.7% during the 4th quarter. Jones Financial Companies Lllp now owns 988 shares of the company's stock worth $37,000 after purchasing an additional 310 shares during the period. UMB Bank n.a. raised its position in shares of Aramark by 75.2% during the 4th quarter. UMB Bank n.a. now owns 1,354 shares of the company's stock worth $51,000 after purchasing an additional 581 shares during the period. Global Retirement Partners LLC raised its position in shares of Aramark by 167.2% during the 4th quarter. Global Retirement Partners LLC now owns 1,424 shares of the company's stock worth $53,000 after purchasing an additional 891 shares during the period. Finally, Wealthfront Advisers LLC acquired a new stake in shares of Aramark during the 4th quarter worth approximately $83,000.

Analyst Ratings Changes

A number of analysts have recently weighed in on ARMK shares. Citigroup started coverage on Aramark in a research report on Monday, February 24th. They set a "buy" rating and a $48.00 price target on the stock. Royal Bank of Canada reissued an "outperform" rating and issued a $47.00 price objective on shares of Aramark in a report on Wednesday. UBS Group increased their price objective on Aramark from $40.00 to $44.00 and gave the stock a "buy" rating in a report on Wednesday, May 7th. Finally, Morgan Stanley increased their price objective on Aramark from $40.00 to $42.00 and gave the stock an "equal weight" rating in a report on Wednesday, May 7th. Three research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat, Aramark presently has a consensus rating of "Moderate Buy" and an average price target of $43.33.

Aramark Price Performance

Shares of NYSE:ARMK traded down $0.67 on Thursday, reaching $38.32. 1,460,376 shares of the company traded hands, compared to its average volume of 2,054,923. Aramark has a fifty-two week low of $29.92 and a fifty-two week high of $42.49. The company's 50 day moving average is $34.15 and its 200-day moving average is $36.91. The stock has a market capitalization of $10.04 billion, a PE ratio of 30.17 and a beta of 1.20. The company has a debt-to-equity ratio of 1.61, a current ratio of 0.94 and a quick ratio of 0.84.

Aramark (NYSE:ARMK - Get Free Report) last announced its quarterly earnings data on Tuesday, May 6th. The company reported $0.34 EPS for the quarter, beating analysts' consensus estimates of $0.33 by $0.01. Aramark had a return on equity of 14.72% and a net margin of 1.94%. The company had revenue of $4.33 billion during the quarter, compared to the consensus estimate of $4.35 billion. During the same quarter in the prior year, the firm earned $0.30 EPS. The company's quarterly revenue was up 1.9% compared to the same quarter last year. As a group, analysts anticipate that Aramark will post 1.92 earnings per share for the current fiscal year.

Aramark Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 28th. Stockholders of record on Wednesday, May 14th will be issued a $0.105 dividend. This represents a $0.42 dividend on an annualized basis and a dividend yield of 1.10%. Aramark's payout ratio is currently 32.31%.

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.