Aramark (NYSE:ARMK) Shares Acquired by Palisade Capital Management LP

Palisade Capital Management LP raised its holdings in Aramark (NYSE:ARMK - Free Report) by 15.5% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 92,211 shares of the company's stock after purchasing an additional 12,348 shares during the quarter. Palisade Capital Management LP's holdings in Aramark were worth $3,183,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Bessemer Group Inc. raised its position in Aramark by 93.0% in the fourth quarter. Bessemer Group Inc. now owns 770 shares of the company's stock valued at $29,000 after purchasing an additional 371 shares during the period. Jones Financial Companies Lllp raised its holdings in shares of Aramark by 45.7% in the 4th quarter. Jones Financial Companies Lllp now owns 988 shares of the company's stock valued at $37,000 after buying an additional 310 shares during the period. Lazard Asset Management LLC purchased a new stake in shares of Aramark in the 4th quarter valued at $72,000. Wealthfront Advisers LLC purchased a new stake in shares of Aramark in the 4th quarter valued at $83,000. Finally, UMB Bank n.a. raised its holdings in shares of Aramark by 82.6% in the 1st quarter. UMB Bank n.a. now owns 2,472 shares of the company's stock valued at $85,000 after buying an additional 1,118 shares during the period.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the company. Royal Bank Of Canada reiterated an "outperform" rating and issued a $47.00 price objective on shares of Aramark in a report on Wednesday, May 14th. Wall Street Zen downgraded Aramark from a "buy" rating to a "hold" rating in a report on Saturday, June 28th. Morgan Stanley increased their price objective on Aramark from $42.00 to $44.00 and gave the company an "equal weight" rating in a report on Monday, June 30th. Finally, UBS Group lifted their price target on shares of Aramark from $40.00 to $44.00 and gave the stock a "buy" rating in a research note on Wednesday, May 7th. Three research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $43.91.

Aramark Stock Performance

Shares of ARMK stock traded down $0.39 during trading hours on Monday, reaching $42.40. 2,032,458 shares of the company's stock were exchanged, compared to its average volume of 1,997,092. Aramark has a 1 year low of $29.92 and a 1 year high of $43.20. The company has a market cap of $11.11 billion, a P/E ratio of 32.62 and a beta of 1.28. The company's 50 day moving average is $39.47 and its two-hundred day moving average is $37.17. The company has a debt-to-equity ratio of 2.02, a current ratio of 1.21 and a quick ratio of 1.08.

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

Aramark Dividend Announcement

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 dividend on an annualized basis and a yield of 0.99%. Aramark's dividend payout ratio (DPR) 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.