New York State Common Retirement Fund Grows Position in Aramark (NYSE:ARMK)

New York State Common Retirement Fund boosted its stake in Aramark (NYSE:ARMK - Free Report) by 11.2% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 161,305 shares of the company's stock after purchasing an additional 16,200 shares during the period. New York State Common Retirement Fund owned about 0.06% of Aramark worth $5,568,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in ARMK. Sumitomo Mitsui Trust Group Inc. boosted its holdings in shares of Aramark by 1.7% in the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 26,504 shares of the company's stock valued at $915,000 after buying an additional 438 shares in the last quarter. GAMMA Investing LLC boosted its stake in Aramark by 48.1% during the 1st quarter. GAMMA Investing LLC now owns 6,364 shares of the company's stock worth $220,000 after purchasing an additional 2,067 shares during the period. Bessemer Group Inc. lifted its stake in shares of Aramark by 83.2% in the 1st quarter. Bessemer Group Inc. now owns 1,411 shares of the company's stock worth $49,000 after acquiring an additional 641 shares during the period. HighTower Advisors LLC lifted its stake in shares of Aramark by 3.4% in the 4th quarter. HighTower Advisors LLC now owns 17,067 shares of the company's stock worth $637,000 after acquiring an additional 563 shares during the period. Finally, State of Alaska Department of Revenue lifted its stake in shares of Aramark by 3.4% in the 1st quarter. State of Alaska Department of Revenue now owns 31,055 shares of the company's stock worth $1,072,000 after acquiring an additional 1,020 shares during the period.

Wall Street Analyst Weigh In

Several analysts recently commented on ARMK shares. Morgan Stanley raised their price objective on shares of Aramark from $42.00 to $44.00 and gave the company an "equal weight" rating in a research note on Monday, June 30th. Royal Bank Of Canada restated an "outperform" rating and set a $47.00 target price on shares of Aramark in a report on Wednesday, May 14th. UBS Group raised their target price on shares of Aramark from $40.00 to $44.00 and gave the company a "buy" rating in a report on Wednesday, May 7th. Finally, Wall Street Zen upgraded shares of Aramark from a "hold" rating to a "buy" rating in a report on Friday. Two equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company's stock. According to MarketBeat, Aramark currently has an average rating of "Moderate Buy" and an average target price of $43.91.

Aramark Stock Up 1.7%

Shares of Aramark stock traded up $0.72 on Tuesday, reaching $43.87. 1,518,877 shares of the company were exchanged, compared to its average volume of 1,985,673. 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 company has a market capitalization of $11.50 billion, a price-to-earnings ratio of 33.75 and a beta of 1.28. Aramark has a one year low of $29.92 and a one year high of $44.80. The company has a 50-day moving average of $40.93 and a 200 day moving average of $37.58.

Aramark (NYSE:ARMK - Get Free Report) last posted its 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 return on equity of 15.07% and a net margin of 1.97%. The firm had revenue of $4.33 billion during the quarter, compared to the consensus estimate of $4.35 billion. During the same period last year, the company earned $0.30 earnings per share. The business's quarterly revenue was up 1.9% on a year-over-year basis. On average, equities research analysts forecast that Aramark will post 1.92 earnings per share for the current year.

Aramark Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, May 28th. Investors of record on Wednesday, May 14th were given a dividend of $0.105 per share. This represents a $0.42 annualized dividend and a dividend yield of 0.96%. Aramark's payout ratio is 32.31%.

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.