Perpetual Ltd Boosts Position in Aramark (NYSE:ARMK)

Perpetual Ltd increased its holdings in shares of Aramark (NYSE:ARMK) by 3.0% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,404,905 shares of the company’s stock after purchasing an additional 40,520 shares during the quarter. Perpetual Ltd owned approximately 0.54% of Aramark worth $45,041,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Rise Advisors LLC purchased a new stake in Aramark in the first quarter valued at approximately $25,000. Benjamin F. Edwards & Company Inc. purchased a new stake in Aramark in the fourth quarter valued at approximately $28,000. Scarborough Advisors LLC purchased a new stake in Aramark in the fourth quarter valued at approximately $34,000. Solstein Capital LLC acquired a new position in shares of Aramark in the fourth quarter valued at approximately $47,000. Finally, Fifth Third Bancorp increased its holdings in shares of Aramark by 82.7% in the fourth quarter. Fifth Third Bancorp now owns 1,873 shares of the company’s stock valued at $53,000 after purchasing an additional 848 shares during the period.

Aramark Stock Down 0.4 %

Shares of ARMK stock traded down $0.12 during mid-day trading on Thursday, reaching $33.68. 1,357,583 shares of the company were exchanged, compared to its average volume of 2,467,588. Aramark has a fifty-two week low of $23.95 and a fifty-two week high of $34.23. The company has a debt-to-equity ratio of 2.03, a quick ratio of 1.11 and a current ratio of 1.25. The company has a market capitalization of $8.86 billion, a P/E ratio of 14.20, a P/E/G ratio of 1.35 and a beta of 1.56. The business’s 50 day simple moving average is $32.33 and its 200 day simple moving average is $30.65.

Aramark (NYSE:ARMK) last released its quarterly earnings data on Tuesday, May 7th. The company reported $0.29 EPS for the quarter, topping analysts’ consensus estimates of $0.26 by $0.03. The firm had revenue of $4.20 billion during the quarter, compared to the consensus estimate of $4.25 billion. Aramark had a net margin of 3.43% and a return on equity of 13.82%. Research analysts predict that Aramark will post 1.57 earnings per share for the current year.

Aramark Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, May 28th. Shareholders of record on Monday, May 13th were issued a $0.095 dividend. This represents a $0.38 dividend on an annualized basis and a yield of 1.13%. The ex-dividend date of this dividend was Friday, May 10th. Aramark’s dividend payout ratio is presently 15.97%.

Analyst Ratings Changes

Several analysts have recently issued reports on ARMK shares. Truist Financial upped their price objective on Aramark from $35.00 to $37.00 and gave the company a “buy” rating in a research report on Wednesday, March 20th. Oppenheimer increased their price objective on shares of Aramark from $36.00 to $39.00 and gave the stock an “outperform” rating in a report on Wednesday, June 12th. Finally, Robert W. Baird increased their price objective on shares of Aramark from $35.00 to $37.00 and gave the stock a “neutral” rating in a report on Wednesday, May 8th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $34.11.

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.