Summit Trail Advisors LLC Makes New Investment in Aramark (NYSE:ARMK)

Summit Trail Advisors LLC bought a new position in Aramark (NYSE:ARMK) during the 2nd quarter, HoldingsChannel.com reports. The fund bought 6,452 shares of the company’s stock, valued at approximately $219,000.

Several other hedge funds also recently bought and sold shares of the company. Bradley Foster & Sargent Inc. CT increased its holdings in shares of Aramark by 0.4% during the 2nd quarter. Bradley Foster & Sargent Inc. CT now owns 69,987 shares of the company’s stock valued at $2,381,000 after acquiring an additional 310 shares during the last quarter. Industrial Alliance Investment Management Inc. boosted its stake in Aramark by 3.3% during the 1st quarter. Industrial Alliance Investment Management Inc. now owns 10,660 shares of the company’s stock valued at $347,000 after purchasing an additional 340 shares during the period. Twin Tree Management LP boosted its stake in Aramark by 32.0% during the 1st 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. Daiwa Securities Group Inc. boosted its stake in Aramark by 2.3% during the 1st quarter. Daiwa Securities Group Inc. now owns 19,540 shares of the company’s stock valued at $635,000 after purchasing an additional 432 shares during the period. Finally, CIBC Asset Management Inc boosted its stake in Aramark by 7.7% during the 2nd quarter. CIBC Asset Management Inc now owns 7,356 shares of the company’s stock valued at $250,000 after purchasing an additional 523 shares during the period.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on ARMK. Deutsche Bank Aktiengesellschaft upgraded Aramark from a “hold” rating to a “buy” rating and increased their target price for the company from $36.00 to $39.00 in a research note on Wednesday, August 7th. Royal Bank of Canada upgraded Aramark from a “sector perform” rating to an “outperform” rating and increased their target price for the company from $36.00 to $42.50 in a research note on Tuesday, September 17th. Oppenheimer raised their price objective on Aramark from $36.00 to $39.00 and gave the stock an “outperform” rating in a research report on Wednesday, June 12th. Morgan Stanley raised their price objective on Aramark from $35.00 to $38.00 and gave the stock an “equal weight” rating in a research report on Monday, September 9th. Finally, JPMorgan Chase & Co. raised their price objective on Aramark from $39.00 to $41.00 and gave the stock an “overweight” rating in a research report on Monday, September 9th. Three research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $37.36.

Aramark Trading Up 0.8 %

ARMK stock opened at $37.26 on Wednesday. The business has a fifty day moving average price of $35.57 and a 200 day moving average price of $33.53. Aramark has a fifty-two week low of $23.95 and a fifty-two week high of $38.99. The stock has a market capitalization of $9.80 billion, a price-to-earnings ratio of 15.66, a P/E/G ratio of 2.04 and a beta of 1.62. The company has a debt-to-equity ratio of 1.71, a current ratio of 0.96 and a quick ratio of 0.86.

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

Aramark Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Investors 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 dividend payout ratio is 15.97%.

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.