Reliant Investment Management LLC Purchases New Holdings in Aramark $ARMK

Key Points

• Reliant Investment Management purchased 122,615 Aramark shares worth approximately $6.6 million, making the stock its 18th-largest holding and representing about 2.2% of its portfolio.
• Institutional interest increased, with BlackRock, Jupiter Topco, Bank of New York Mellon, Bank of America, and PointState Capital also establishing sizable Aramark positions.
• Analysts maintain a generally positive outlook, with a consensus rating of “Moderate Buy” and an average price target of $69.25; Aramark also exceeded quarterly earnings and revenue expectations.

Reliant Investment Management LLC purchased a new stake in Aramark (NYSE:ARMK - Free Report) during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 122,615 shares of the company's stock, valued at approximately $6,566,000. Aramark accounts for about 2.2% of Reliant Investment Management LLC's holdings, making the stock its 18th biggest holding.

Other institutional investors and hedge funds have also recently modified their holdings of the company. BlackRock Inc. acquired a new stake in shares of Aramark during the 2nd quarter worth approximately $1,411,586,000. Jupiter Topco LLC acquired a new position in shares of Aramark during the 2nd quarter valued at $1,041,407,000. Bank of New York Mellon Corp acquired a new position in shares of Aramark during the 2nd quarter valued at $140,853,000. Bank of America Corp DE bought a new position in Aramark during the second quarter worth $137,742,000. Finally, PointState Capital LP bought a new position in Aramark during the second quarter worth $135,077,000.

Analysts Set New Price Targets

ARMK has been the subject of a number of research reports. Weiss Ratings upgraded shares of Aramark from a "hold (c)" rating to a "hold (c+)" rating in a report on Thursday, September 10th. JPMorgan Chase & Co. upped their price objective on shares of Aramark from $55.00 to $70.00 and gave the company an "overweight" rating in a report on Thursday, August 13th. Morgan Stanley set a $63.00 price objective on shares of Aramark in a report on Tuesday, August 11th. New Street Research set a $70.00 price objective on shares of Aramark in a research report on Thursday, August 13th. Finally, Deutsche Bank Aktiengesellschaft reissued a "buy" rating and set a $74.00 price objective on shares of Aramark in a research report on Wednesday, August 12th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $69.25.

Aramark Trading Down 0.2%

NYSE ARMK opened at $54.68 on Thursday. The company has a market cap of $14.42 billion, a price-to-earnings ratio of 25.36, a P/E/G ratio of 0.79 and a beta of 1.12. Aramark has a 52 week low of $35.07 and a 52 week high of $62.65. The business has a 50 day moving average price of $57.17 and a 200-day moving average price of $53.36. The company has a quick ratio of 1.14, a current ratio of 1.28 and a debt-to-equity ratio of 1.80.

Aramark (NYSE:ARMK - Get Free Report) last issued its earnings results on Tuesday, August 11th. The company reported $0.52 earnings per share for the quarter, topping analysts' consensus estimates of $0.48 by $0.04. Aramark had a return on equity of 17.68% and a net margin of 1.93%. The company had revenue of $5.06 billion for the quarter, compared to analyst estimates of $4.94 billion. During the same period in the prior year, the firm earned $0.40 earnings per share. Aramark's revenue for the quarter was up 9.3% on a year-over-year basis. Aramark has set its FY 2026 guidance at 2.180-2.280 EPS. As a group, equities analysts expect that Aramark will post 2.27 earnings per share for the current fiscal year.

Aramark Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 9th. Shareholders of record on Wednesday, August 19th were issued a dividend of $0.12 per share. The ex-dividend date was Wednesday, August 19th. This represents a $0.48 annualized dividend and a yield of 0.9%. Aramark's dividend payout ratio is presently 33.57%.

Aramark Profile

Aramark NYSE: ARMK is a provider of food services and facilities management. The company serves businesses, universities, schools, hospitals, sports and entertainment venues, correctional facilities, and other organizations through on-site dining, catering, concessions, refreshment services, and related hospitality offerings.

Its facilities services include custodial services, building operations and maintenance, workplace support, and other services designed to help clients manage their physical environments.

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