Palisade Capital Management LP increased its position in Aramark (NYSE:ARMK - Free Report) by 15.5% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 92,211 shares of the company's stock after buying an additional 12,348 shares during the quarter. Palisade Capital Management LP's holdings in Aramark were worth $3,183,000 at the end of the most recent reporting period.
Several other large investors have also bought and sold shares of ARMK. Proficio Capital Partners LLC acquired a new stake in shares of Aramark during the 4th quarter valued at $1,070,000. Jones Financial Companies Lllp lifted its holdings in shares of Aramark by 45.7% during the fourth quarter. Jones Financial Companies Lllp now owns 988 shares of the company's stock valued at $37,000 after purchasing an additional 310 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of Aramark by 0.8% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,746,871 shares of the company's stock valued at $65,176,000 after purchasing an additional 14,210 shares during the period. Arizona State Retirement System lifted its stake in Aramark by 1.0% during the fourth quarter. Arizona State Retirement System now owns 72,635 shares of the company's stock valued at $2,710,000 after buying an additional 694 shares in the last quarter. Finally, Raymond James Financial Inc. purchased a new stake in Aramark during the fourth quarter valued at about $3,979,000.
Analyst Ratings Changes
Several equities research analysts recently commented on ARMK shares. Wall Street Zen downgraded shares of Aramark from a "buy" rating to a "hold" rating in a research report on Saturday, June 28th. UBS Group increased their target price on Aramark from $40.00 to $44.00 and gave the company a "buy" rating in a report on Wednesday, May 7th. Royal Bank Of Canada reiterated an "outperform" rating and set a $47.00 price target on shares of Aramark in a report on Wednesday, May 14th. Finally, Morgan Stanley upped their price target on Aramark from $42.00 to $44.00 and gave the company an "equal weight" rating in a research report on Monday. Three equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, Aramark currently has a consensus rating of "Moderate Buy" and a consensus target price of $43.91.
View Our Latest Stock Report on ARMK
Aramark Stock Down 0.4%
Shares of Aramark stock traded down $0.19 during trading on Friday, hitting $42.79. 1,392,020 shares of the stock traded hands, compared to its average volume of 2,000,808. The stock has a market cap of $11.21 billion, a P/E ratio of 32.92 and a beta of 1.28. The company has a fifty day moving average price of $39.28 and a two-hundred day moving average price of $37.14. Aramark has a twelve month low of $29.92 and a twelve month high of $43.20. The company has a debt-to-equity ratio of 2.02, a quick ratio of 1.08 and a current ratio of 1.21.
Aramark (NYSE:ARMK - Get Free Report) last posted its earnings results 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 during the quarter, compared to analysts' expectations of $4.35 billion. During the same period in the previous year, the company earned $0.30 earnings per share. The company's revenue was up 1.9% compared to the same quarter last year. Equities research analysts predict that Aramark will post 1.92 EPS for the current fiscal year.
Aramark Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Wednesday, May 28th. Shareholders of record on Wednesday, May 14th were issued a dividend of $0.105 per share. This represents a $0.42 annualized dividend and a yield of 0.98%. Aramark's dividend payout ratio (DPR) is currently 32.31%.
About Aramark
(
Free Report)
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.
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