Morgan Stanley Boosts Aramark (NYSE:ARMK) Price Target to $30.00

Aramark (NYSE:ARMKFree Report) had its price objective hoisted by Morgan Stanley from $28.00 to $30.00 in a research report released on Wednesday, Benzinga reports. Morgan Stanley currently has an equal weight rating on the stock.

Other analysts have also issued reports about the company. The Goldman Sachs Group started coverage on Aramark in a research note on Wednesday, January 17th. They issued a buy rating and a $33.00 target price on the stock. JPMorgan Chase & Co. lowered their target price on Aramark from $47.00 to $35.00 and set an overweight rating on the stock in a research note on Monday, October 16th. Stifel Nicolaus lowered their target price on Aramark from $45.00 to $33.00 and set a buy rating on the stock in a research note on Tuesday, November 7th. Truist Financial boosted their price objective on Aramark from $33.00 to $35.00 and gave the company a buy rating in a research note on Wednesday. Finally, StockNews.com started coverage on Aramark in a research note on Thursday, December 7th. They set a hold rating on the stock. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and ten have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of Moderate Buy and an average price target of $33.32.

Check Out Our Latest Stock Report on Aramark

Aramark Stock Up 3.7 %

Aramark stock opened at $30.50 on Wednesday. The firm has a 50 day moving average price of $28.32 and a 200-day moving average price of $31.07. The company has a quick ratio of 0.92, a current ratio of 1.27 and a debt-to-equity ratio of 2.08. Aramark has a twelve month low of $23.55 and a twelve month high of $31.94. The company has a market capitalization of $8.00 billion, a P/E ratio of 12.76, a P/E/G ratio of 1.18 and a beta of 1.47.

Aramark (NYSE:ARMKGet Free Report) last announced its quarterly earnings data on Tuesday, February 6th. The company reported $0.41 earnings per share for the quarter, beating the consensus estimate of $0.36 by $0.05. The business had revenue of $4.41 billion during the quarter, compared to analyst estimates of $4.29 billion. Aramark had a return on equity of 13.45% and a net margin of 3.37%. Aramark’s revenue was up 12.6% compared to the same quarter last year. During the same period in the prior year, the company earned $0.41 earnings per share. As a group, equities analysts predict that Aramark will post 1.54 EPS for the current year.

Aramark Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, February 28th. Shareholders of record on Wednesday, February 14th will be paid a $0.095 dividend. The ex-dividend date of this dividend is Tuesday, February 13th. This represents a $0.38 dividend on an annualized basis and a yield of 1.25%. Aramark’s dividend payout ratio is currently 15.90%.

Insiders Place Their Bets

In other news, COO Marc A. Bruno sold 27,884 shares of the company’s stock in a transaction dated Wednesday, December 13th. The stock was sold at an average price of $26.67, for a total value of $743,666.28. Following the completion of the transaction, the chief operating officer now directly owns 225,653 shares in the company, valued at approximately $6,018,165.51. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 1.92% of the company’s stock.

Hedge Funds Weigh In On Aramark

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Vanguard Group Inc. boosted its holdings in shares of Aramark by 0.6% in the 3rd quarter. Vanguard Group Inc. now owns 25,444,549 shares of the company’s stock worth $882,926,000 after purchasing an additional 152,572 shares in the last quarter. BlackRock Inc. boosted its holdings in Aramark by 102.9% during the 1st quarter. BlackRock Inc. now owns 24,774,397 shares of the company’s stock valued at $886,923,000 after acquiring an additional 12,562,434 shares during the period. Morgan Stanley boosted its holdings in Aramark by 1,042.8% during the 4th quarter. Morgan Stanley now owns 12,850,218 shares of the company’s stock valued at $531,228,000 after acquiring an additional 11,725,727 shares during the period. State Street Corp boosted its holdings in Aramark by 63.3% during the 1st quarter. State Street Corp now owns 7,929,211 shares of the company’s stock valued at $283,866,000 after acquiring an additional 3,074,389 shares during the period. Finally, Hsbc Holdings PLC boosted its holdings in Aramark by 6.7% during the 2nd quarter. Hsbc Holdings PLC now owns 6,541,308 shares of the company’s stock valued at $281,234,000 after acquiring an additional 410,204 shares during the period.

About Aramark

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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.

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