Neo Ivy Capital Management Purchases New Stake in Aramark (NYSE:ARMK)

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

Several other hedge funds and other institutional investors have also 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 valued at $29,000 after buying an additional 371 shares during the period. Jones Financial Companies Lllp increased its holdings in Aramark by 45.7% during the 4th quarter. Jones Financial Companies Lllp now owns 988 shares of the company's stock worth $37,000 after purchasing an additional 310 shares during the last quarter. UMB Bank n.a. increased its holdings in Aramark by 75.2% during the 4th quarter. UMB Bank n.a. now owns 1,354 shares of the company's stock worth $51,000 after purchasing an additional 581 shares during the last quarter. Global Retirement Partners LLC increased its holdings in 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 last quarter. Finally, Lazard Asset Management LLC purchased a new stake in Aramark during the 4th quarter worth approximately $72,000.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. Morgan Stanley boosted their price target on Aramark from $40.00 to $42.00 and gave the company an "equal weight" rating in a report on Wednesday, May 7th. Citigroup assumed coverage on Aramark in a report on Monday, February 24th. They issued a "buy" rating and a $48.00 price target for the company. Royal Bank of Canada reiterated an "outperform" rating and issued a $47.00 price target on shares of Aramark in a report on Wednesday, May 14th. Finally, UBS Group boosted their price target on Aramark from $40.00 to $44.00 and gave the company a "buy" rating in a report on Wednesday, May 7th. Three investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $43.33.

Aramark Price Performance

Shares of Aramark stock traded up $0.51 during trading on Tuesday, hitting $39.63. The stock had a trading volume of 1,879,370 shares, compared to its average volume of 2,033,027. The company has a debt-to-equity ratio of 1.61, a current ratio of 0.94 and a quick ratio of 0.84. The firm has a market cap of $10.39 billion, a P/E ratio of 31.20 and a beta of 1.20. The business has a fifty day moving average of $34.96 and a two-hundred day moving average of $36.96. Aramark has a fifty-two week low of $29.92 and a fifty-two week high of $42.49.

Aramark (NYSE:ARMK - Get Free Report) last announced 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 14.72% and a net margin of 1.94%. The business had revenue of $4.33 billion during the quarter, compared to analyst estimates of $4.35 billion. During the same quarter in the prior year, the firm posted $0.30 earnings per share. The company's revenue was up 1.9% on a year-over-year basis. On average, sell-side analysts expect that Aramark will post 1.92 earnings per share for the current fiscal year.

Aramark Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 28th. Stockholders of record on Wednesday, May 14th will be issued a dividend of $0.105 per share. This represents a $0.42 annualized dividend and a dividend yield of 1.06%. Aramark's dividend payout ratio is 32.31%.

Aramark 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.