Aramark (NYSE:ARMK) Shares Purchased by Riverwater Partners LLC

Riverwater Partners LLC boosted its stake in shares of Aramark (NYSE:ARMK) by 65.2% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 24,856 shares of the company’s stock after acquiring an additional 9,813 shares during the quarter. Riverwater Partners LLC’s holdings in Aramark were worth $950,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also modified their holdings of the stock. Bradley Foster & Sargent Inc. CT grew its position in Aramark by 0.4% in the 2nd quarter. Bradley Foster & Sargent Inc. CT now owns 69,987 shares of the company’s stock valued at $2,381,000 after buying an additional 310 shares during the last quarter. Industrial Alliance Investment Management Inc. increased its stake in shares of Aramark by 3.3% during the first quarter. Industrial Alliance Investment Management Inc. now owns 10,660 shares of the company’s stock worth $347,000 after acquiring an additional 340 shares during the period. Twin Tree Management LP raised its holdings in Aramark by 32.0% during the first quarter. Twin Tree Management LP now owns 1,424 shares of the company’s stock worth $46,000 after purchasing an additional 345 shares in the last quarter. Cadent Capital Advisors LLC lifted its position in Aramark by 4.7% in the third quarter. Cadent Capital Advisors LLC now owns 7,711 shares of the company’s stock valued at $299,000 after purchasing an additional 349 shares during the period. Finally, Daiwa Securities Group Inc. boosted its holdings in Aramark by 2.3% in the 1st quarter. Daiwa Securities Group Inc. now owns 19,540 shares of the company’s stock valued at $635,000 after purchasing an additional 432 shares in the last quarter.

Aramark Stock Down 3.0 %

ARMK opened at $38.20 on Thursday. The firm has a market cap of $10.05 billion, a P/E ratio of 16.05 and a beta of 1.62. The business’s fifty day simple moving average is $37.49 and its 200 day simple moving average is $34.49. Aramark has a 52 week low of $25.92 and a 52 week high of $39.99. The company has a quick ratio of 0.86, a current ratio of 0.96 and a debt-to-equity ratio of 1.71.

Aramark (NYSE:ARMK) last released its quarterly earnings results on Tuesday, August 6th. The company reported $0.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.30 by $0.01. The company had revenue of $4.38 billion for the quarter, compared to analysts’ expectations of $4.31 billion. Aramark had a net margin of 1.93% and a return on equity of 14.09%. The firm’s revenue for the quarter was up 8.0% compared to the same quarter last year. During the same period last year, the company earned $0.36 EPS. As a group, equities research analysts anticipate that Aramark will post 1.55 EPS for the current fiscal year.

Aramark Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Monday, August 19th were issued a $0.095 dividend. The ex-dividend date of this dividend was Monday, August 19th. This represents a $0.38 annualized dividend and a yield of 0.99%. Aramark’s dividend payout ratio (DPR) is presently 15.97%.

Analyst Upgrades and Downgrades

Several research firms have recently commented on ARMK. The Goldman Sachs Group raised their price target on Aramark from $38.00 to $41.00 and gave the company a “buy” rating in a report on Wednesday, October 16th. Bank of America boosted their target price on shares of Aramark from $36.00 to $39.00 and gave the stock a “buy” rating in a research report on Wednesday, August 7th. Morgan Stanley raised their price objective on shares of Aramark from $35.00 to $38.00 and gave the company an “equal weight” rating in a research note on Monday, September 9th. JPMorgan Chase & Co. upped their target price on shares of Aramark from $39.00 to $41.00 and gave the stock an “overweight” rating in a research report on Monday, September 9th. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of Aramark from a “hold” rating to a “buy” rating and lifted their price target for the company from $36.00 to $39.00 in a research report on Wednesday, August 7th. One analyst has rated the stock with a sell rating, two have given a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat, Aramark currently has an average rating of “Moderate Buy” and a consensus price target of $39.68.

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.