Envestnet Asset Management Inc. Increases Stock Position in Aramark (NYSE:ARMK)

Envestnet Asset Management Inc. boosted its stake in shares of Aramark (NYSE:ARMK) by 154.6% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 452,490 shares of the company’s stock after buying an additional 274,780 shares during the quarter. Envestnet Asset Management Inc.’s holdings in Aramark were worth $15,394,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of ARMK. Rise Advisors LLC purchased a new position in shares of Aramark in the first quarter valued at approximately $25,000. Scarborough Advisors LLC purchased a new position in shares of Aramark in the fourth quarter valued at approximately $34,000. Twin Tree Management LP boosted its stake in shares of Aramark by 32.0% in the first quarter. Twin Tree Management LP now owns 1,424 shares of the company’s stock valued at $46,000 after purchasing an additional 345 shares during the period. GAMMA Investing LLC boosted its stake in shares of Aramark by 319.3% in the second quarter. GAMMA Investing LLC now owns 1,677 shares of the company’s stock valued at $57,000 after purchasing an additional 1,277 shares during the period. Finally, Versant Capital Management Inc boosted its stake in shares of Aramark by 44,750.0% in the second quarter. Versant Capital Management Inc now owns 1,794 shares of the company’s stock valued at $61,000 after purchasing an additional 1,790 shares during the period.

Aramark Stock Up 0.8 %

ARMK stock opened at $37.26 on Wednesday. The company has a current ratio of 0.96, a quick ratio of 0.86 and a debt-to-equity ratio of 1.71. Aramark has a twelve month low of $23.95 and a twelve month high of $38.99. The company’s 50 day moving average is $35.57 and its two-hundred day moving average is $33.53. The stock has a market cap of $9.80 billion, a P/E ratio of 15.66, a PEG ratio of 2.04 and a beta of 1.62.

Aramark (NYSE:ARMK) last released its quarterly earnings data on Tuesday, August 6th. The company reported $0.31 earnings per share for the quarter, topping analysts’ consensus estimates of $0.30 by $0.01. Aramark had a net margin of 1.93% and a return on equity of 14.09%. The company had revenue of $4.38 billion for the quarter, compared to analysts’ expectations of $4.31 billion. During the same quarter last year, the company earned $0.36 earnings per share. The firm’s revenue for the quarter was up 8.0% on a year-over-year basis. Research analysts expect that Aramark will post 1.57 earnings per share for the current fiscal year.

Aramark Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Monday, August 19th were issued a dividend of $0.095 per share. The ex-dividend date was Monday, August 19th. This represents a $0.38 dividend on an annualized basis and a yield of 1.02%. Aramark’s payout ratio is currently 15.97%.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the stock. Morgan Stanley raised their price objective on shares of Aramark from $35.00 to $38.00 and gave the company an “equal weight” rating in a research note on Monday, September 9th. Deutsche Bank Aktiengesellschaft raised shares of Aramark from a “hold” rating to a “buy” rating and raised their price objective for the company from $36.00 to $39.00 in a research note on Wednesday, August 7th. Truist Financial raised their price objective on shares of Aramark from $37.00 to $42.00 and gave the company a “buy” rating in a research note on Thursday, September 12th. Oppenheimer raised their target price on shares of Aramark from $36.00 to $39.00 and gave the company an “outperform” rating in a report on Wednesday, June 12th. Finally, UBS Group raised their target price on shares of Aramark from $35.00 to $40.00 and gave the company a “buy” rating in a report on Friday, June 21st. Three research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $37.36.

Aramark 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.