Morgan Stanley Raises Aramark (NYSE:ARMK) Price Target to $38.00

Aramark (NYSE:ARMK) had its price objective increased by Morgan Stanley from $35.00 to $38.00 in a research note released on Monday morning, Benzinga reports. They currently have an equal weight rating on the stock.

Other equities research analysts have also issued research reports about the company. Bank of America upped their target price on Aramark from $36.00 to $39.00 and gave the company a buy rating in a research note on Wednesday, August 7th. UBS Group increased their price objective on Aramark from $35.00 to $40.00 and gave the company a buy rating in a research note on Friday, June 21st. Oppenheimer upped their target price on shares of Aramark from $36.00 to $39.00 and gave the company an outperform rating in a report on Wednesday, June 12th. JPMorgan Chase & Co. boosted their price objective on shares of Aramark from $35.00 to $39.00 and gave the company an overweight rating in a research report on Wednesday, August 7th. Finally, Truist Financial lowered shares of Aramark from a strong-buy rating to a hold rating in a research report on Wednesday, August 7th. Four analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of Moderate Buy and an average price target of $36.89.

Aramark Stock Performance

Shares of ARMK stock opened at $38.09 on Monday. The stock has a fifty day moving average price of $34.68 and a 200 day moving average price of $33.07. The company has a debt-to-equity ratio of 1.71, a quick ratio of 0.86 and a current ratio of 0.96. The stock has a market cap of $10.02 billion, a PE ratio of 16.01, a P/E/G ratio of 1.96 and a beta of 1.62. Aramark has a 1 year low of $23.95 and a 1 year high of $38.43.

Aramark (NYSE:ARMK) last released its quarterly earnings data on Tuesday, August 6th. The company reported $0.31 EPS for the quarter, topping the consensus estimate of $0.30 by $0.01. Aramark had a net margin of 1.93% and a return on equity of 14.09%. The business had revenue of $4.38 billion for the quarter, compared to analyst estimates of $4.31 billion. During the same period in the previous year, the firm earned $0.36 EPS. The business’s revenue for the quarter was up 8.0% compared to the same quarter last year. Sell-side analysts forecast that Aramark will post 1.57 earnings per share 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 given a dividend of $0.095 per share. The ex-dividend date of this dividend was Monday, August 19th. This represents a $0.38 dividend on an annualized basis and a yield of 1.00%. Aramark’s dividend payout ratio (DPR) is 15.97%.

Institutional Investors Weigh In On Aramark

Several institutional investors and hedge funds have recently modified their holdings of the stock. Bradley Foster & Sargent Inc. CT boosted 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 holdings in Aramark by 3.3% during the 1st quarter. Industrial Alliance Investment Management Inc. now owns 10,660 shares of the company’s stock worth $347,000 after purchasing an additional 340 shares during the last quarter. Twin Tree Management LP raised its position in shares of Aramark by 32.0% in the 1st quarter. Twin Tree Management LP now owns 1,424 shares of the company’s stock valued at $46,000 after purchasing an additional 345 shares in the last quarter. Daiwa Securities Group Inc. grew its position in shares of Aramark by 2.3% during the first quarter. Daiwa Securities Group Inc. now owns 19,540 shares of the company’s stock worth $635,000 after buying an additional 432 shares in the last quarter. Finally, M&T Bank Corp increased its stake in shares of Aramark by 5.7% in the fourth quarter. M&T Bank Corp now owns 8,129 shares of the company’s stock worth $229,000 after buying an additional 442 shares during the last quarter.

About Aramark

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.