Aramark (NYSE:ARMK) Shares Purchased by BNP Paribas Financial Markets

BNP Paribas Financial Markets raised its holdings in Aramark (NYSE:ARMK) by 26.8% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 366,615 shares of the company’s stock after purchasing an additional 77,567 shares during the quarter. BNP Paribas Financial Markets owned about 0.14% of Aramark worth $14,199,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in ARMK. Huntington National Bank increased its stake in Aramark by 100.3% in the 3rd quarter. Huntington National Bank now owns 681 shares of the company’s stock valued at $26,000 after buying an additional 341 shares during the period. Capital Performance Advisors LLP purchased a new stake in shares of Aramark in the third quarter valued at about $28,000. UMB Bank n.a. boosted its holdings in shares of Aramark by 360.1% in the third quarter. UMB Bank n.a. now owns 773 shares of the company’s stock valued at $30,000 after acquiring an additional 605 shares in the last quarter. Friedenthal Financial purchased a new position in Aramark during the third quarter worth about $52,000. Finally, GAMMA Investing LLC lifted its position in 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.

Aramark Trading Down 0.2 %

Shares of Aramark stock opened at $40.69 on Monday. Aramark has a 1 year low of $26.58 and a 1 year high of $42.49. The company has a debt-to-equity ratio of 1.42, a current ratio of 0.81 and a quick ratio of 0.72. The business has a 50 day moving average price of $38.68 and a 200 day moving average price of $35.84. The company has a market capitalization of $10.74 billion, a P/E ratio of 41.10 and a beta of 1.62.

Aramark (NYSE:ARMK) last released its quarterly earnings results on Monday, November 11th. The company reported $0.54 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.54. The company had revenue of $4.42 billion during the quarter, compared to analysts’ expectations of $4.46 billion. Aramark had a return on equity of 14.06% and a net margin of 1.51%. The business’s revenue for the quarter was up 5.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.64 earnings per share. Sell-side analysts anticipate that Aramark will post 1.92 EPS for the current fiscal year.

Aramark Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Monday, December 2nd will be paid a dividend of $0.001 per share. The ex-dividend date is Monday, December 2nd. This represents a $0.00 annualized dividend and a dividend yield of 0.01%. Aramark’s dividend payout ratio is currently 38.38%.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on ARMK shares. Truist Financial boosted their target price on Aramark from $42.00 to $46.00 and gave the stock a “buy” rating in a research report on Tuesday, November 12th. Robert W. Baird increased their price objective on Aramark from $38.00 to $44.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 12th. Deutsche Bank Aktiengesellschaft upgraded shares of Aramark from a “hold” rating to a “buy” rating and boosted their target price for the stock from $36.00 to $39.00 in a research report on Wednesday, August 7th. JPMorgan Chase & Co. raised their price objective on shares of Aramark from $41.00 to $45.00 and gave the company an “overweight” rating in a research note on Tuesday, November 12th. Finally, UBS Group upped their target price on shares of Aramark from $40.00 to $44.00 and gave the stock a “buy” rating in a research report on Tuesday, October 8th. Three investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $42.23.

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.