Fifth Third Bancorp Buys 61,950 Shares of Aramark $ARMK

Fifth Third Bancorp increased its stake in Aramark (NYSE:ARMK - Free Report) by 2,157.8% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 64,821 shares of the company's stock after purchasing an additional 61,950 shares during the period. Fifth Third Bancorp's holdings in Aramark were worth $2,628,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Goldman Sachs Group Inc. increased its stake in shares of Aramark by 38.2% in the 1st quarter. Goldman Sachs Group Inc. now owns 489,646 shares of the company's stock valued at $16,903,000 after purchasing an additional 135,224 shares during the last quarter. Creative Planning grew its position in Aramark by 36.0% in the second quarter. Creative Planning now owns 9,918 shares of the company's stock valued at $415,000 after acquiring an additional 2,625 shares during the last quarter. Cetera Investment Advisers raised its stake in Aramark by 7.4% during the second quarter. Cetera Investment Advisers now owns 8,294 shares of the company's stock worth $347,000 after acquiring an additional 573 shares in the last quarter. Arrowstreet Capital Limited Partnership bought a new position in shares of Aramark in the second quarter worth about $640,000. Finally, Cerity Partners LLC boosted its stake in shares of Aramark by 61.5% in the 2nd quarter. Cerity Partners LLC now owns 16,097 shares of the company's stock valued at $674,000 after purchasing an additional 6,127 shares in the last quarter.

Aramark Price Performance

ARMK opened at $56.52 on Tuesday. Aramark has a 1 year low of $35.07 and a 1 year high of $58.68. The company has a debt-to-equity ratio of 1.85, a current ratio of 1.21 and a quick ratio of 1.07. The company has a market capitalization of $14.86 billion, a price-to-earnings ratio of 42.18, a P/E/G ratio of 1.08 and a beta of 1.11. The firm's fifty day moving average price is $54.31 and its two-hundred day moving average price is $45.67.

Aramark (NYSE:ARMK - Get Free Report) last announced its quarterly earnings data on Tuesday, May 12th. The company reported $0.49 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.47 by $0.02. The business had revenue of $4.91 billion for the quarter, compared to analysts' expectations of $4.75 billion. Aramark had a return on equity of 17.05% and a net margin of 1.84%.The firm's quarterly revenue was up 14.7% compared to the same quarter last year. During the same period in the previous year, the business posted $0.35 EPS. Aramark has set its FY 2026 guidance at 2.180-2.280 EPS. As a group, analysts anticipate that Aramark will post 2.24 earnings per share for the current fiscal year.

Aramark Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 3rd. Investors of record on Wednesday, May 20th were issued a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date of this dividend was Wednesday, May 20th. Aramark's dividend payout ratio (DPR) is currently 35.82%.

Analysts Set New Price Targets

A number of analysts have weighed in on ARMK shares. Morgan Stanley boosted their target price on shares of Aramark from $45.00 to $50.00 and gave the stock an "equal weight" rating in a research note on Wednesday, May 13th. The Goldman Sachs Group restated a "buy" rating and issued a $51.00 price target on shares of Aramark in a research report on Wednesday, May 13th. Royal Bank Of Canada lifted their target price on Aramark from $47.00 to $55.00 and gave the stock an "outperform" rating in a report on Thursday, May 14th. Bank of America upped their price target on Aramark from $59.00 to $62.00 and gave the company a "buy" rating in a research report on Tuesday, June 2nd. Finally, Truist Financial increased their price target on Aramark from $50.00 to $58.00 and gave the company a "buy" rating in a research note on Wednesday, May 13th. Eleven equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $59.21.

Aramark Profile

Aramark NYSE: ARMK is a global provider of food services, facilities management and uniform solutions, serving clients across a wide array of industries including education, healthcare, business and government. The company operates through three primary segments: Food and Support Services, Uniform and Career Apparel, and Facility Services, delivering integrated solutions designed to enhance guest experiences, improve operational efficiencies and maintain safe, clean environments. Aramark's offerings include corporate dining, patient and senior nutrition, campus dining, sports and entertainment concessions, custodial services, technical maintenance and industrial laundry.

Founded in 1959 and headquartered in Philadelphia, Pennsylvania, Aramark has expanded its footprint to more than 20 countries, with a strong presence in North America, Latin America, Europe and Asia.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.