Aramark (NYSE:ARMK) Hits New 52-Week High at $34.25

Aramark (NYSE:ARMK)’s stock price hit a new 52-week high on Monday . The company traded as high as $34.25 and last traded at $33.90, with a volume of 72562 shares trading hands. The stock had previously closed at $34.02.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the company. Robert W. Baird upped their price target on Aramark from $35.00 to $37.00 and gave the company a “neutral” rating in a research report on Wednesday, May 8th. UBS Group increased their target price on Aramark from $35.00 to $40.00 and gave the stock a “buy” rating in a report on Friday, June 21st. Oppenheimer increased their target price on Aramark from $36.00 to $39.00 and gave the stock an “outperform” rating in a report on Wednesday, June 12th. Finally, Truist Financial increased their target price on Aramark from $35.00 to $37.00 and gave the stock a “buy” rating in a report on Wednesday, March 20th. One analyst has rated the stock with a sell rating, four have issued a hold rating and ten have issued a buy rating to the stock. According to MarketBeat, Aramark currently has an average rating of “Moderate Buy” and a consensus target price of $34.89.

Aramark Stock Down 0.2 %

The firm has a 50 day simple moving average of $32.70 and a two-hundred day simple moving average of $31.08. The company has a debt-to-equity ratio of 2.03, a current ratio of 1.25 and a quick ratio of 1.11. The stock has a market cap of $8.74 billion, a price-to-earnings ratio of 13.96, a price-to-earnings-growth ratio of 1.36 and a beta of 1.59.

Aramark (NYSE:ARMK) last released its earnings results on Tuesday, May 7th. The company reported $0.29 earnings per share for the quarter, beating the consensus estimate of $0.26 by $0.03. Aramark had a return on equity of 13.82% and a net margin of 3.43%. The firm had revenue of $4.20 billion for the quarter, compared to analyst estimates of $4.25 billion. As a group, sell-side analysts expect that Aramark will post 1.57 EPS for the current year.

Aramark Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, May 28th. Stockholders of record on Monday, May 13th were given a dividend of $0.095 per share. This represents a $0.38 dividend on an annualized basis and a dividend yield of 1.14%. The ex-dividend date was Friday, May 10th. Aramark’s dividend payout ratio is currently 15.97%.

Institutional Investors Weigh In On Aramark

Hedge funds have recently modified their holdings of the business. Envestnet Asset Management Inc. grew its holdings in shares of Aramark by 451.3% during the third quarter. Envestnet Asset Management Inc. now owns 107,062 shares of the company’s stock worth $3,715,000 after buying an additional 87,641 shares in the last quarter. Stifel Financial Corp grew its holdings in shares of Aramark by 41.3% during the third quarter. Stifel Financial Corp now owns 52,384 shares of the company’s stock worth $1,818,000 after buying an additional 15,301 shares in the last quarter. Natixis Advisors L.P. grew its holdings in shares of Aramark by 44.0% during the third quarter. Natixis Advisors L.P. now owns 75,089 shares of the company’s stock worth $2,606,000 after buying an additional 22,956 shares in the last quarter. Gotham Asset Management LLC bought a new position in shares of Aramark during the third quarter worth about $1,488,000. Finally, AQR Capital Management LLC grew its holdings in shares of Aramark by 153.3% during the third quarter. AQR Capital Management LLC now owns 342,211 shares of the company’s stock worth $11,875,000 after buying an additional 207,115 shares in 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.