Neo Ivy Capital Management Buys Shares of 50,244 Aramark (NYSE:ARMK)

Neo Ivy Capital Management purchased a new position in shares of Aramark (NYSE:ARMK - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 50,244 shares of the company's stock, valued at approximately $1,874,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Bessemer Group Inc. raised its holdings in shares of Aramark by 93.0% during the 4th quarter. Bessemer Group Inc. now owns 770 shares of the company's stock worth $29,000 after acquiring an additional 371 shares in the last quarter. Jones Financial Companies Lllp lifted 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. UMB Bank n.a. raised its position in Aramark by 75.2% during the fourth quarter. UMB Bank n.a. now owns 1,354 shares of the company's stock valued at $51,000 after acquiring an additional 581 shares in the last quarter. Global Retirement Partners LLC grew its stake in shares of Aramark by 167.2% during the 4th quarter. Global Retirement Partners LLC now owns 1,424 shares of the company's stock worth $53,000 after purchasing an additional 891 shares during the period. Finally, Lazard Asset Management LLC acquired a new stake in Aramark during the fourth quarter valued at $72,000.

Aramark Stock Performance

Shares of Aramark stock traded down $0.06 on Thursday, reaching $40.05. 431,557 shares of the company were exchanged, compared to its average volume of 2,026,634. The company's 50-day moving average is $35.08 and its two-hundred day moving average is $36.98. The firm has a market cap of $10.49 billion, a price-to-earnings ratio of 31.49 and a beta of 1.20. The company has a debt-to-equity ratio of 1.61, a quick ratio of 0.84 and a current ratio of 0.94. Aramark has a 1-year low of $29.92 and a 1-year high of $42.49.

Aramark (NYSE:ARMK - Get Free Report) last released its earnings results on Tuesday, May 6th. The company reported $0.34 earnings per share for the quarter, topping the consensus estimate of $0.33 by $0.01. Aramark had a net margin of 1.94% and a return on equity of 14.72%. The business had revenue of $4.33 billion for the quarter, compared to the consensus estimate of $4.35 billion. During the same period last year, the firm posted $0.30 earnings per share. The firm's quarterly revenue was up 1.9% compared to the same quarter last year. As a group, research analysts expect that Aramark will post 1.92 earnings per share for the current fiscal year.

Aramark Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, May 28th. Stockholders of record on Wednesday, May 14th were paid a $0.105 dividend. This represents a $0.42 annualized dividend and a dividend yield of 1.05%. Aramark's payout ratio is 32.31%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the stock. Royal Bank of Canada reissued an "outperform" rating and set a $47.00 target price on shares of Aramark in a research note on Wednesday, May 14th. Citigroup began coverage on Aramark in a report on Monday, February 24th. They issued a "buy" rating and a $48.00 price objective on the stock. Morgan Stanley increased their target price on Aramark from $40.00 to $42.00 and gave the company an "equal weight" rating in a research report on Wednesday, May 7th. Finally, UBS Group increased their price objective on shares of Aramark from $40.00 to $44.00 and gave the company a "buy" rating in a report on Wednesday, May 7th. Three research analysts have rated the stock with a hold rating and ten have given a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $43.33.

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.