Avior Wealth Management LLC Takes Position in Aramark (NYSE:ARMK)

Avior Wealth Management LLC purchased a new stake in shares of Aramark (NYSE:ARMK) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 8,016 shares of the company’s stock, valued at approximately $225,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. New York Life Investment Management LLC raised its holdings in Aramark by 112.2% in the 3rd quarter. New York Life Investment Management LLC now owns 27,665 shares of the company’s stock worth $960,000 after purchasing an additional 14,628 shares during the period. New York State Teachers Retirement System raised its holdings in Aramark by 24.1% in the 4th quarter. New York State Teachers Retirement System now owns 141,849 shares of the company’s stock worth $3,986,000 after purchasing an additional 27,522 shares during the period. Nordea Investment Management AB raised its holdings in Aramark by 121.0% in the 4th quarter. Nordea Investment Management AB now owns 368,303 shares of the company’s stock worth $10,268,000 after purchasing an additional 201,623 shares during the period. Envestnet Asset Management Inc. raised its holdings in Aramark by 451.3% in the 3rd quarter. Envestnet Asset Management Inc. now owns 107,062 shares of the company’s stock worth $3,715,000 after purchasing an additional 87,641 shares during the period. Finally, CenterBook Partners LP raised its holdings in Aramark by 143.8% in the 3rd quarter. CenterBook Partners LP now owns 90,635 shares of the company’s stock worth $3,145,000 after purchasing an additional 53,463 shares during the period.

Aramark Trading Up 2.1 %

Shares of Aramark stock opened at $31.86 on Friday. The firm has a market cap of $8.36 billion, a price-to-earnings ratio of 13.33, a PEG ratio of 1.25 and a beta of 1.48. The business has a 50-day moving average price of $31.38 and a 200-day moving average price of $28.93. The company has a quick ratio of 1.12, a current ratio of 1.27 and a debt-to-equity ratio of 2.08. Aramark has a twelve month low of $23.95 and a twelve month high of $33.04.

Aramark (NYSE:ARMK) last issued its quarterly earnings data on Tuesday, February 6th. The company reported $0.41 earnings per share for the quarter, beating analysts’ consensus estimates of $0.36 by $0.05. Aramark had a return on equity of 13.45% and a net margin of 3.37%. The firm had revenue of $4.41 billion during the quarter, compared to analyst estimates of $4.29 billion. During the same quarter last year, the business posted $0.41 earnings per share. The business’s quarterly revenue was up 12.6% compared to the same quarter last year. Equities research analysts anticipate that Aramark will post 1.56 EPS for the current fiscal year.

Aramark Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, February 28th. Investors of record on Wednesday, February 14th were issued a $0.095 dividend. This represents a $0.38 dividend on an annualized basis and a dividend yield of 1.19%. The ex-dividend date was Tuesday, February 13th. Aramark’s payout ratio is 15.90%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on ARMK shares. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $33.00 target price on shares of Aramark in a report on Wednesday, February 7th. Truist Financial increased their price target on Aramark from $35.00 to $37.00 and gave the stock a “buy” rating in a research note on Wednesday, March 20th. The Goldman Sachs Group assumed coverage on Aramark in a research note on Wednesday, January 17th. They issued a “buy” rating and a $33.00 price target for the company. Finally, Morgan Stanley increased their price target on Aramark from $28.00 to $30.00 and gave the stock an “equal weight” rating in a research note on Wednesday, February 7th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and ten have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $33.04.

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.