State of Alaska Department of Revenue Buys 2,075 Shares of Aramark (NYSE:ARMK)

State of Alaska Department of Revenue increased its position in Aramark (NYSE:ARMK) by 7.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 30,550 shares of the company’s stock after buying an additional 2,075 shares during the period. State of Alaska Department of Revenue’s holdings in Aramark were worth $1,183,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. SG Americas Securities LLC grew its stake in Aramark by 131.8% in the first quarter. SG Americas Securities LLC now owns 97,167 shares of the company’s stock valued at $3,160,000 after acquiring an additional 55,249 shares during the period. Blue Trust Inc. increased its stake in Aramark by 173.9% during the 3rd quarter. Blue Trust Inc. now owns 5,697 shares of the company’s stock valued at $221,000 after purchasing an additional 3,617 shares in the last quarter. Leeward Investments LLC MA acquired a new position in Aramark during the second quarter worth $9,263,000. Public Employees Retirement Association of Colorado grew its holdings in shares of Aramark by 19.1% during the first quarter. Public Employees Retirement Association of Colorado now owns 810,174 shares of the company’s stock valued at $26,347,000 after buying an additional 129,939 shares during the last quarter. Finally, Comerica Bank increased its position in shares of Aramark by 14.9% during the first quarter. Comerica Bank now owns 126,658 shares of the company’s stock worth $4,119,000 after acquiring an additional 16,423 shares in the last quarter.

Aramark Stock Performance

Shares of ARMK stock opened at $38.14 on Tuesday. Aramark has a 52 week low of $25.92 and a 52 week high of $39.99. The firm’s 50-day simple moving average is $37.87 and its two-hundred day simple moving average is $34.87. The firm has a market cap of $10.05 billion, a price-to-earnings ratio of 29.11 and a beta of 1.62. The company has a debt-to-equity ratio of 1.71, a quick ratio of 0.86 and a current ratio of 0.96.

Aramark (NYSE:ARMK) last posted its quarterly earnings data on Tuesday, August 6th. The company reported $0.31 EPS for the quarter, beating the consensus estimate of $0.30 by $0.01. Aramark had a return on equity of 14.09% and a net margin of 1.93%. The business had revenue of $4.38 billion for the quarter, compared to the consensus estimate of $4.31 billion. During the same quarter in the prior year, the business earned $0.36 earnings per share. Aramark’s revenue for the quarter was up 8.0% on a year-over-year basis. As a group, equities analysts forecast that Aramark will post 1.55 earnings per share for the current year.

Wall Street Analysts Forecast Growth

ARMK has been the topic of several recent research reports. UBS Group raised their price target on shares of Aramark from $40.00 to $44.00 and gave the company a “buy” rating in a research report on Tuesday, October 8th. Truist Financial upped their price target on Aramark from $37.00 to $42.00 and gave the stock a “buy” rating in a report on Thursday, September 12th. Deutsche Bank Aktiengesellschaft upgraded 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. JPMorgan Chase & Co. upped their target price on shares of Aramark from $39.00 to $41.00 and gave the stock an “overweight” rating in a research note on Monday, September 9th. Finally, The Goldman Sachs Group raised their price target on shares of Aramark from $38.00 to $41.00 and gave the company a “buy” rating in a research report on Wednesday, October 16th. Three analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, Aramark has an average rating of “Moderate Buy” and a consensus target price of $39.68.

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.