Morgan Stanley reaffirmed their hold rating on shares of Aramark (NYSE:ARMK) in a research report sent to investors on Thursday morning. Morgan Stanley currently has a $45.00 price objective on the stock, up from their previous price objective of $44.00.
ARMK has been the topic of a number of other research reports. Robert W. Baird downgraded Aramark from an outperform rating to a neutral rating and set a $37.00 price target on the stock. in a research note on Wednesday, August 8th. Zacks Investment Research upgraded Aramark from a sell rating to a hold rating in a research note on Wednesday, August 22nd. ValuEngine downgraded Aramark from a hold rating to a sell rating in a research note on Friday, August 3rd. TheStreet upgraded Aramark from a c+ rating to a b- rating in a research note on Friday, June 15th. Finally, Credit Suisse Group assumed coverage on Aramark in a research note on Friday, August 10th. They set an outperform rating and a $52.00 price target on the stock. One analyst has rated the stock with a sell rating, four have issued a hold rating and five have given a buy rating to the stock. Aramark has an average rating of Hold and a consensus target price of $47.29.
Shares of NYSE ARMK traded up $0.17 during midday trading on Thursday, hitting $42.14. 13,407 shares of the company’s stock were exchanged, compared to its average volume of 970,830. The firm has a market capitalization of $10.29 billion, a PE ratio of 23.92 and a beta of 0.69. The company has a debt-to-equity ratio of 2.74, a quick ratio of 1.03 and a current ratio of 1.36. Aramark has a twelve month low of $36.28 and a twelve month high of $46.09.
Aramark (NYSE:ARMK) last released its quarterly earnings results on Tuesday, August 7th. The company reported $0.48 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.43 by $0.05. The firm had revenue of $3.97 billion for the quarter, compared to the consensus estimate of $3.92 billion. Aramark had a return on equity of 17.37% and a net margin of 3.26%. sell-side analysts forecast that Aramark will post 2 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Thursday, August 30th. Investors of record on Thursday, August 16th were paid a dividend of $0.105 per share. The ex-dividend date of this dividend was Wednesday, August 15th. This represents a $0.42 dividend on an annualized basis and a yield of 1.00%. Aramark’s dividend payout ratio is presently 23.73%.
In other Aramark news, EVP Stephen R. Reynolds sold 15,000 shares of Aramark stock in a transaction that occurred on Wednesday, August 29th. The stock was sold at an average price of $41.33, for a total value of $619,950.00. Following the transaction, the executive vice president now directly owns 47,058 shares in the company, valued at approximately $1,944,907.14. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 2.90% of the company’s stock.
Several hedge funds have recently made changes to their positions in ARMK. Comerica Bank grew its stake in shares of Aramark by 7.9% in the 1st quarter. Comerica Bank now owns 21,465 shares of the company’s stock valued at $805,000 after purchasing an additional 1,567 shares during the last quarter. SG Americas Securities LLC grew its stake in shares of Aramark by 271.2% in the 1st quarter. SG Americas Securities LLC now owns 14,676 shares of the company’s stock valued at $581,000 after purchasing an additional 10,722 shares during the last quarter. Mackay Shields LLC purchased a new position in shares of Aramark in the 1st quarter valued at approximately $550,000. Victory Capital Management Inc. grew its stake in shares of Aramark by 2.5% in the 1st quarter. Victory Capital Management Inc. now owns 646,975 shares of the company’s stock valued at $25,595,000 after purchasing an additional 15,894 shares during the last quarter. Finally, State Board of Administration of Florida Retirement System grew its stake in shares of Aramark by 0.7% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 218,976 shares of the company’s stock valued at $8,663,000 after purchasing an additional 1,554 shares during the last quarter. Institutional investors own 98.04% of the company’s stock.
Aramark Company Profile
Aramark provides food, facilities, and uniform services to education, healthcare, business and industry, sports, leisure, and corrections clients in North America and internationally. The company operates through three segments: Food and Support Services North America, Food and Support Services International, Uniform and Career Apparel.
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