Aramark $ARMK Stock Purchased by Pictet Asset Management Holding SA

Pictet Asset Management Holding SA increased its position in Aramark (NYSE:ARMK) by 55.5% during the third quarter, Holdings Channel.com reports. The firm owned 771,376 shares of the company’s stock after buying an additional 275,393 shares during the quarter. Pictet Asset Management Holding SA’s holdings in Aramark were worth $41,307,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. BlackRock Inc. bought a new stake in shares of Aramark in the 2nd quarter worth $1,411,586,000. Jupiter Topco LLC bought a new position in shares of Aramark during the second quarter valued at about $1,041,407,000. Bank of New York Mellon Corp purchased a new position in Aramark during the second quarter worth about $140,853,000. Bank of America Corp DE purchased a new position in Aramark during the second quarter worth about $137,742,000. Finally, PointState Capital LP bought a new stake in Aramark in the 2nd quarter worth about $135,077,000.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on ARMK shares. Zacks Research lowered shares of Aramark from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, November 3rd. Citigroup increased their price target on Aramark from $74.00 to $75.50 and gave the company a “buy” rating in a research report on Monday, October 12th. JPMorgan Chase & Co. boosted their price objective on Aramark from $55.00 to $70.00 and gave the stock an “overweight” rating in a research report on Thursday, August 13th. Jefferies Financial Group upped their price objective on Aramark from $62.00 to $70.00 and gave the company a “buy” rating in a research note on Wednesday, August 12th. Finally, Stifel Nicolaus raised their target price on Aramark from $54.00 to $70.00 and gave the company a “buy” rating in a research report on Wednesday, August 12th. Thirteen research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, Aramark has a consensus rating of “Moderate Buy” and a consensus target price of $69.25.

Aramark Price Performance

ARMK stock opened at $54.21 on Wednesday. The company has a current ratio of 1.28, a quick ratio of 1.14 and a debt-to-equity ratio of 1.80. Aramark has a 12 month low of $35.07 and a 12 month high of $62.65. The firm has a market capitalization of $14.29 billion, a P/E ratio of 37.91, a price-to-earnings-growth ratio of 0.81 and a beta of 1.10. The firm has a 50 day moving average of $55.35 and a 200-day moving average of $50.53.

Aramark (NYSE:ARMK) last posted its quarterly earnings data on Tuesday, August 11th. The company reported $0.52 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.48 by $0.04. The company had revenue of $5.06 billion during the quarter, compared to the consensus estimate of $4.94 billion. Aramark had a net margin of 1.93% and a return on equity of 17.68%. The firm’s revenue was up 9.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.40 EPS. As a group, sell-side analysts predict that Aramark will post 2.27 earnings per share for the current fiscal year.

About Aramark

Aramark provides food and facilities management services to organizations around the world. Its clients include schools and universities, hospitals and other healthcare providers, businesses, sports and entertainment venues, and correctional institutions. The company plans and operates dining programs, including meal preparation, catering, concessions, and retail food services. It also provides facilities services such as maintenance, cleaning, and related operational support tailored to client needs.