State of Michigan Retirement System Boosts Stake in Aramark (NYSE:ARMK)

State of Michigan Retirement System increased its position in shares of Aramark (NYSE:ARMK) by 3.0% during the first quarter, HoldingsChannel reports. The institutional investor owned 64,500 shares of the company’s stock after buying an additional 1,900 shares during the quarter. State of Michigan Retirement System’s holdings in Aramark were worth $2,098,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its position in Aramark by 0.5% in the 4th quarter. Vanguard Group Inc. now owns 25,584,242 shares of the company’s stock valued at $718,917,000 after acquiring an additional 139,693 shares during the period. Capital International Investors raised its stake in Aramark by 0.4% in the 4th quarter. Capital International Investors now owns 23,614,308 shares of the company’s stock valued at $663,545,000 after purchasing an additional 91,866 shares during the last quarter. Morgan Stanley lifted its stake in shares of Aramark by 1.5% during the third quarter. Morgan Stanley now owns 12,758,467 shares of the company’s stock valued at $442,719,000 after buying an additional 186,969 shares during the period. Massachusetts Financial Services Co. MA lifted its stake in shares of Aramark by 27.7% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 4,983,507 shares of the company’s stock worth $140,037,000 after purchasing an additional 1,081,358 shares during the period. Finally, Sarasin & Partners LLP lifted its position in Aramark by 7.0% during the fourth quarter. Sarasin & Partners LLP now owns 3,982,858 shares of the company’s stock worth $111,918,000 after buying an additional 259,026 shares during the period.

Aramark Stock Up 0.1 %

Shares of Aramark stock opened at $33.25 on Friday. Aramark has a twelve month low of $23.95 and a twelve month high of $34.37. The stock has a market capitalization of $8.74 billion, a price-to-earnings ratio of 13.97, a PEG ratio of 1.33 and a beta of 1.59. The company has a current ratio of 1.25, a quick ratio of 1.11 and a debt-to-equity ratio of 2.03. The business’s 50 day simple moving average is $32.73 and its 200-day simple moving average is $31.11.

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

Aramark Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, May 28th. Investors of record on Monday, May 13th were issued a $0.095 dividend. This represents a $0.38 annualized dividend and a yield of 1.14%. The ex-dividend date of this dividend was Friday, May 10th. Aramark’s payout ratio is currently 15.97%.

Wall Street Analysts Forecast Growth

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

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.