Aramark (NYSE:ARMK) Trading Down 2.3%

Aramark (NYSE:ARMK) shares dropped 2.3% on Thursday . The company traded as low as $35.13 and last traded at $35.13. Approximately 681,510 shares were traded during mid-day trading, a decline of 71% from the average daily volume of 2,323,623 shares. The stock had previously closed at $35.97.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on ARMK. JPMorgan Chase & Co. lifted their target price on shares of Aramark from $35.00 to $39.00 and gave the company an “overweight” rating in a report on Wednesday, August 7th. Deutsche Bank Aktiengesellschaft raised Aramark from a “hold” rating to a “buy” rating and increased their target price for the stock from $36.00 to $39.00 in a research note on Wednesday, August 7th. Royal Bank of Canada upped their price target on shares of Aramark from $33.00 to $36.00 and gave the stock a “sector perform” rating in a research note on Wednesday, August 7th. Truist Financial lowered shares of Aramark from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, August 7th. Finally, Robert W. Baird upped their target price on shares of Aramark from $37.00 to $38.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 7th. Five investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $35.82.

Aramark Stock Up 0.8 %

The company has a market cap of $9.42 billion, a P/E ratio of 15.05, a price-to-earnings-growth ratio of 1.77 and a beta of 1.59. The company has a quick ratio of 1.11, a current ratio of 1.25 and a debt-to-equity ratio of 2.03. The company has a fifty day moving average of $33.69 and a 200 day moving average of $32.28.

Aramark (NYSE:ARMK) last announced its earnings results on Tuesday, August 6th. The company reported $0.31 EPS for the quarter, beating analysts’ consensus estimates of $0.30 by $0.01. Aramark had a net margin of 3.43% and a return on equity of 13.82%. The business had revenue of $4.38 billion during the quarter, compared to analysts’ expectations of $4.31 billion. During the same period in the prior year, the company earned $0.36 earnings per share. The firm’s revenue was up 8.0% on a year-over-year basis. On average, research analysts anticipate that Aramark will post 1.57 earnings per share for the current fiscal year.

Aramark Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 3rd. Shareholders of record on Monday, August 19th will be given a $0.095 dividend. This represents a $0.38 dividend on an annualized basis and a yield of 1.06%. The ex-dividend date is Monday, August 19th. Aramark’s payout ratio is 15.97%.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Strs Ohio lifted its holdings in Aramark by 33.4% during the fourth quarter. Strs Ohio now owns 49,718 shares of the company’s stock valued at $1,397,000 after purchasing an additional 12,462 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Aramark by 36.3% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 51,988 shares of the company’s stock worth $1,461,000 after buying an additional 13,833 shares during the period. Avior Wealth Management LLC purchased a new stake in Aramark in the 4th quarter worth $225,000. Xponance Inc. raised its holdings in Aramark by 3.9% during the fourth quarter. Xponance Inc. now owns 32,121 shares of the company’s stock valued at $903,000 after acquiring an additional 1,202 shares during the period. Finally, abrdn plc lifted its position in shares of Aramark by 95.1% in the fourth quarter. abrdn plc now owns 77,724 shares of the company’s stock valued at $2,184,000 after acquiring an additional 37,896 shares in the last quarter.

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.