2,420,768 Shares in Aramark $ARMK Acquired by Bank of America Corp DE

Bank of America Corp DE acquired a new stake in shares of Aramark (NYSE:ARMK - Free Report) during the second quarter, according to its most recent filing with the SEC. The fund acquired 2,420,768 shares of the company's stock, valued at approximately $137,742,000. Bank of America Corp DE owned 0.92% of Aramark as of its most recent filing with the SEC.

A number of other hedge funds have also recently made changes to their positions in the company. BlackRock Inc. purchased a new position in shares of Aramark in the second quarter worth about $1,411,586,000. Entropy Technologies LP purchased a new stake in Aramark during the 1st quarter valued at about $2,552,000. Callan Family Office LLC purchased a new stake in Aramark during the 2nd quarter valued at about $2,065,000. Bank of New York Mellon Corp grew its position in Aramark by 4.7% during the 1st quarter. Bank of New York Mellon Corp now owns 2,558,199 shares of the company's stock worth $103,709,000 after acquiring an additional 114,662 shares during the last quarter. Finally, The Manufacturers Life Insurance Company purchased a new position in Aramark in the 2nd quarter worth approximately $10,835,000.

Analyst Ratings Changes

Several equities analysts have recently commented on ARMK shares. Weiss Ratings raised shares of Aramark from a "hold (c)" rating to a "hold (c+)" rating in a research note on Thursday, September 10th. JPMorgan Chase & Co. raised their price objective on Aramark from $55.00 to $70.00 and gave the company an "overweight" rating in a research report on Thursday, August 13th. Deutsche Bank Aktiengesellschaft reiterated a "buy" rating and issued a $74.00 price target on shares of Aramark in a research note on Wednesday, August 12th. Royal Bank Of Canada upped their price objective on shares of Aramark from $60.00 to $70.00 and gave the stock an "outperform" rating in a report on Wednesday, August 19th. Finally, Oppenheimer lifted their target price on shares of Aramark from $60.00 to $65.00 and gave the company an "outperform" rating in a report on Monday, June 29th. Twelve equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, Aramark presently has a consensus rating of "Moderate Buy" and an average price target of $69.14.

Aramark Stock Down 1.4%

Shares of Aramark stock opened at $56.83 on Friday. The company has a market cap of $14.98 billion, a price-to-earnings ratio of 39.74, a price-to-earnings-growth ratio of 1.01 and a beta of 1.12. Aramark has a twelve month low of $35.07 and a twelve month high of $62.65. The company has a quick ratio of 1.14, a current ratio of 1.28 and a debt-to-equity ratio of 1.80. The company's 50 day moving average is $57.90 and its 200 day moving average is $51.37.

Aramark (NYSE:ARMK - Get Free Report) last released its earnings results on Tuesday, August 11th. The company reported $0.52 earnings per share for the quarter, beating the consensus estimate of $0.48 by $0.04. The company had revenue of $5.06 billion for the quarter, compared to the consensus estimate of $4.94 billion. Aramark had a return on equity of 17.68% and a net margin of 1.93%.Aramark's quarterly revenue was up 9.3% compared to the same quarter last year. During the same period in the previous year, the business earned $0.40 earnings per share. Aramark has set its FY 2026 guidance at 2.180-2.280 EPS. Research analysts anticipate that Aramark will post 2.27 EPS for the current year.

Aramark Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 9th. Shareholders of record on Wednesday, August 19th were issued a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date of this dividend was Wednesday, August 19th. Aramark's dividend payout ratio (DPR) is 33.57%.

Aramark Company Profile

Aramark NYSE: ARMK is a global provider of food services and facilities management solutions. The company serves organizations across education, healthcare, business and industry, sports and leisure, corrections, and other institutional markets.

Its food services include dining operations, catering, concessions, hospitality, and culinary programs. Aramark also provides facilities services such as housekeeping, plant operations, maintenance, workplace services, and related support programs designed to help clients manage their physical environments.

Headquartered in Philadelphia, Aramark serves customers in the United States and internationally.

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