Exencial Wealth Advisors LLC Makes New $411,000 Investment in Aramark (NYSE:ARMK)

Key Points

• Exencial Wealth Advisors LLC has invested approximately $411,000 in Aramark, acquiring 11,918 shares during the first quarter.
• Analysts have recently upgraded Aramark's rating, with new price targets set by firms such as Baird R W and UBS Group, indicating a positive outlook for the stock.
• Aramark announced a quarterly dividend of $0.105 per share for investors of record on August 6, 2023, reflecting a 1.1% yield.

Exencial Wealth Advisors LLC bought a new position in shares of Aramark (NYSE:ARMK - Free Report) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 11,918 shares of the company's stock, valued at approximately $411,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. Harbour Investments Inc. increased its holdings in shares of Aramark by 40,750.0% in the 1st quarter. Harbour Investments Inc. now owns 817 shares of the company's stock worth $28,000 after acquiring an additional 815 shares during the period. Bessemer Group Inc. increased its holdings in shares of Aramark by 93.0% in the 4th quarter. Bessemer Group Inc. now owns 770 shares of the company's stock worth $29,000 after acquiring an additional 371 shares during the period. Lazard Asset Management LLC bought a new position in Aramark in the 4th quarter valued at about $72,000. UMB Bank n.a. grew its position in 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 in the last quarter. Finally, Fifth Third Bancorp grew its position in Aramark by 21.1% in the 1st quarter. Fifth Third Bancorp now owns 2,859 shares of the company's stock valued at $99,000 after buying an additional 499 shares in the last quarter.

Analysts Set New Price Targets

ARMK has been the subject of a number of recent analyst reports. Baird R W upgraded shares of Aramark from a "hold" rating to a "strong-buy" rating in a research report on Wednesday. Royal Bank Of Canada restated an "outperform" rating and set a $47.00 price objective on shares of Aramark in a research report on Wednesday, May 14th. Wall Street Zen lowered shares of Aramark from a "buy" rating to a "hold" rating in a research report on Saturday. UBS Group raised their price objective on shares of Aramark from $44.00 to $46.00 and gave the company a "buy" rating in a research report on Wednesday. Finally, Morgan Stanley raised their target price 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. Two research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $45.44.

Aramark Price Performance

NYSE ARMK opened at $39.62 on Friday. The company has a 50 day simple moving average of $41.71 and a 200-day simple moving average of $38.00. The company has a debt-to-equity ratio of 2.03, a current ratio of 1.29 and a quick ratio of 1.08. The firm has a market capitalization of $10.41 billion, a price-to-earnings ratio of 29.35 and a beta of 1.33. Aramark has a 52-week low of $29.92 and a 52-week high of $44.49.

Aramark (NYSE:ARMK - Get Free Report) last issued its quarterly earnings data on Tuesday, August 5th. The company reported $0.40 earnings per share for the quarter, meeting the consensus estimate of $0.40. The firm had revenue of $4.63 billion for the quarter, compared to analyst estimates of $4.66 billion. Aramark had a net margin of 2.02% and a return on equity of 15.67%. The company's revenue for the quarter was up 5.7% on a year-over-year basis. During the same quarter last year, the firm earned $0.31 earnings per share. Equities research analysts predict that Aramark will post 1.92 earnings per share for the current fiscal year.

Aramark Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 20th. Investors of record on Wednesday, August 6th will be given a dividend of $0.105 per share. This represents a $0.42 annualized dividend and a yield of 1.1%. Aramark's payout ratio is presently 31.11%.

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.

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