Allianz Asset Management GmbH Invests $1.37 Million in Aramark (NYSE:ARMK)

Allianz Asset Management GmbH purchased a new position in Aramark (NYSE:ARMK - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 39,809 shares of the company's stock, valued at approximately $1,374,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Sumitomo Mitsui Trust Group Inc. increased its holdings in shares of Aramark by 1.7% during the first quarter. Sumitomo Mitsui Trust Group Inc. now owns 26,504 shares of the company's stock worth $915,000 after buying an additional 438 shares in the last quarter. GAMMA Investing LLC increased its holdings in shares of Aramark by 48.1% during the first quarter. GAMMA Investing LLC now owns 6,364 shares of the company's stock worth $220,000 after buying an additional 2,067 shares in the last quarter. Bessemer Group Inc. increased its holdings in shares of Aramark by 83.2% during the first quarter. Bessemer Group Inc. now owns 1,411 shares of the company's stock worth $49,000 after buying an additional 641 shares in the last quarter. State of Alaska Department of Revenue increased its holdings in shares of Aramark by 3.4% during the first quarter. State of Alaska Department of Revenue now owns 31,055 shares of the company's stock worth $1,072,000 after buying an additional 1,020 shares in the last quarter. Finally, Janney Montgomery Scott LLC increased its holdings in shares of Aramark by 553.3% during the first quarter. Janney Montgomery Scott LLC now owns 37,791 shares of the company's stock worth $1,305,000 after buying an additional 32,006 shares in the last quarter.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. Morgan Stanley raised their price objective on shares of Aramark from $42.00 to $44.00 and gave the stock an "equal weight" rating in a report on Monday, June 30th. UBS Group raised their price target on shares of Aramark from $40.00 to $44.00 and gave the company a "buy" rating in a report on Wednesday, May 7th. Wall Street Zen raised shares of Aramark from a "hold" rating to a "buy" rating in a report on Friday, July 18th. Finally, Royal Bank Of Canada reissued an "outperform" rating and issued a $47.00 price target on shares of Aramark in a report on Wednesday, May 14th. Two investment analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $43.91.

Aramark Trading Down 0.2%

ARMK stock traded down $0.10 during midday trading on Friday, reaching $42.46. The company's stock had a trading volume of 2,031,479 shares, compared to its average volume of 1,409,073. Aramark has a 52 week low of $29.92 and a 52 week high of $44.49. The stock has a market cap of $11.13 billion, a PE ratio of 32.66 and a beta of 1.33. The company has a quick ratio of 1.08, a current ratio of 1.21 and a debt-to-equity ratio of 2.02. The business's 50-day simple moving average is $41.62 and its 200-day simple moving average is $37.93.

Aramark (NYSE:ARMK - Get Free Report) last announced its quarterly earnings data on Tuesday, May 6th. The company reported $0.34 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.33 by $0.01. Aramark had a net margin of 1.97% and a return on equity of 15.07%. The firm had revenue of $4.33 billion for the quarter, compared to analysts' expectations of $4.35 billion. During the same period last year, the firm earned $0.30 earnings per share. The business's revenue for the quarter was up 1.9% on a year-over-year basis. As a group, sell-side analysts expect that Aramark will post 1.92 EPS for the current year.

Aramark Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 20th. Shareholders of record on Wednesday, August 6th will be paid a $0.105 dividend. This represents a $0.42 dividend on an annualized basis and a yield of 1.0%. Aramark's payout ratio is presently 32.31%.

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.