Strs Ohio Invests $1.47 Million in Aramark $ARMK

Key Points

• Strs Ohio has acquired 42,631 shares of Aramark (ARMK), valued at approximately $1.47 million, marking the company’s new investment in the first quarter.
• Aramark's stock has received multiple analyst upgrades, including a price target increase to $47.00 from Robert W. Baird, with a consensus rating of “Buy”.
• The company recently reported quarterly earnings of $0.40 per share, meeting analysts' expectations, with revenues totaling $4.63 billion for the quarter.

Strs Ohio bought a new position in Aramark (NYSE:ARMK - Free Report) during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 42,631 shares of the company's stock, valued at approximately $1,472,000.

Several other institutional investors have also added to or reduced their stakes in ARMK. Harbour Investments Inc. boosted its holdings in Aramark by 40,750.0% during the first quarter. Harbour Investments Inc. now owns 817 shares of the company's stock worth $28,000 after purchasing an additional 815 shares during the last quarter. Bessemer Group Inc. boosted its holdings in shares of Aramark by 83.2% during the 1st quarter. Bessemer Group Inc. now owns 1,411 shares of the company's stock worth $49,000 after buying an additional 641 shares during the period. Lazard Asset Management LLC bought a new position in shares of Aramark during the fourth quarter worth approximately $72,000. UMB Bank n.a. grew its stake in shares of Aramark by 82.6% in the first quarter. UMB Bank n.a. now owns 2,472 shares of the company's stock valued at $85,000 after acquiring an additional 1,118 shares in the last quarter. Finally, Caitong International Asset Management Co. Ltd raised its position in shares of Aramark by 71.0% in the first quarter. Caitong International Asset Management Co. Ltd now owns 2,534 shares of the company's stock valued at $87,000 after buying an additional 1,052 shares in the last quarter.

Aramark Price Performance

ARMK stock traded down $0.11 during mid-day trading on Friday, reaching $37.63. 4,363,567 shares of the company's stock were exchanged, compared to its average volume of 1,704,306. Aramark has a 12-month low of $29.92 and a 12-month high of $44.49. The company has a market cap of $9.89 billion, a price-to-earnings ratio of 27.87 and a beta of 1.22. The company has a debt-to-equity ratio of 2.03, a current ratio of 1.29 and a quick ratio of 1.14. The stock's 50 day moving average is $40.38 and its 200 day moving average is $38.25.

Aramark (NYSE:ARMK - Get Free Report) last posted its quarterly earnings results on Tuesday, August 5th. The company reported $0.40 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.40. The business had revenue of $4.63 billion during the quarter, compared to analyst estimates of $4.66 billion. Aramark had a return on equity of 15.67% and a net margin of 2.02%.The business's revenue was up 5.7% compared to the same quarter last year. During the same period in the prior year, the business earned $0.31 earnings per share. Aramark has set its FY 2025 guidance at 1.910-1.980 EPS. On average, research analysts expect that Aramark will post 1.92 EPS for the current year.

Aramark Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, August 20th. Investors of record on Wednesday, August 6th were paid a dividend of $0.105 per share. The ex-dividend date was Wednesday, August 6th. This represents a $0.42 dividend on an annualized basis and a dividend yield of 1.1%. Aramark's payout ratio is presently 31.11%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on ARMK shares. Morgan Stanley lifted their price target on shares of Aramark from $42.00 to $44.00 and gave the company an "equal weight" rating in a report on Monday, June 30th. Wall Street Zen lowered shares of Aramark from a "buy" rating to a "hold" rating in a research note on Saturday, August 9th. UBS Group set a $46.00 target price on shares of Aramark and gave the stock a "buy" rating in a research note on Wednesday, August 6th. Robert W. Baird raised Aramark from a "neutral" rating to an "outperform" rating and boosted their price objective for the stock from $43.00 to $47.00 in a research report on Wednesday, August 6th. Finally, Baird R W raised shares of Aramark from a "hold" rating to a "strong-buy" rating in a report on Wednesday, August 6th. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and one has given a Hold rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Buy" and a consensus target price of $45.44.

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.