Neo Ivy Capital Management Buys 26,854 Shares of Aramark (NYSE:ARMK)

Key Points

• Neo Ivy Capital Management increased its stake in Aramark (NYSE:ARMK) by 53.4%, purchasing an additional 26,854 shares, raising its total holdings to 77,098 shares valued at approximately $2.66 million.
• Analysts have a consensus rating of “Moderate Buy” for Aramark shares, with a target price averaging around $43.91, following upgrades from several investment firms.
• Aramark announced a quarterly dividend of $0.105 per share, with a yield of 0.96%, set to be paid on August 20th to shareholders of record as of August 6th.

Neo Ivy Capital Management increased its holdings in shares of Aramark (NYSE:ARMK - Free Report) by 53.4% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 77,098 shares of the company's stock after purchasing an additional 26,854 shares during the period. Aramark accounts for 0.8% of Neo Ivy Capital Management's investment portfolio, making the stock its 20th largest holding. Neo Ivy Capital Management's holdings in Aramark were worth $2,661,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Bessemer Group Inc. raised its stake 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 buying an additional 371 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. increased its holdings in Aramark by 1.7% during the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 26,504 shares of the company's stock valued at $915,000 after acquiring an additional 438 shares in the last quarter. Mariner LLC lifted its holdings in shares of Aramark by 3.0% in the fourth quarter. Mariner LLC now owns 15,029 shares of the company's stock valued at $561,000 after purchasing an additional 444 shares in the last quarter. Xponance Inc. grew its position in shares of Aramark by 1.5% in the first quarter. Xponance Inc. now owns 31,209 shares of the company's stock valued at $1,077,000 after purchasing an additional 451 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC raised its position in shares of Aramark by 7.4% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 6,788 shares of the company's stock worth $253,000 after purchasing an additional 465 shares during the last quarter.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on ARMK shares. Wall Street Zen upgraded shares of Aramark from a "hold" rating to a "buy" rating in a report on Friday, July 18th. Morgan Stanley increased 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. Royal Bank Of Canada restated an "outperform" rating and set a $47.00 price target on shares of Aramark in a research report on Wednesday, May 14th. Finally, UBS Group upped their price target on shares of Aramark from $40.00 to $44.00 and gave the company a "buy" rating in a report on Wednesday, May 7th. Two investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $43.91.

Aramark Stock Performance

Shares of NYSE:ARMK traded up $0.44 on Friday, hitting $43.83. The company had a trading volume of 1,146,205 shares, compared to its average volume of 1,582,628. The company has a current ratio of 1.21, a quick ratio of 1.08 and a debt-to-equity ratio of 2.02. The stock has a 50 day moving average price of $41.23 and a 200 day moving average price of $37.71. Aramark has a 1-year low of $29.92 and a 1-year high of $44.49. The stock has a market cap of $11.49 billion, a price-to-earnings ratio of 33.72 and a beta of 1.28.

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

Aramark Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 20th. Shareholders of record on Wednesday, August 6th will be paid a dividend of $0.105 per share. This represents a $0.42 dividend on an annualized basis and a yield of 0.96%. Aramark's payout ratio is 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.