Aramark (NYSE:ARMK) Price Target Raised to $39.00

Aramark (NYSE:ARMK) had its target price boosted by Oppenheimer from $36.00 to $39.00 in a research note published on Wednesday morning, Benzinga reports. They currently have an outperform rating on the stock.

Several other brokerages have also recently issued reports on ARMK. Truist Financial boosted their price target on shares of Aramark from $35.00 to $37.00 and gave the company a buy rating in a research report on Wednesday, March 20th. Robert W. Baird boosted their price target on shares of Aramark from $35.00 to $37.00 and gave the company a neutral rating in a research report on Wednesday, May 8th. One 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. According to data from MarketBeat, the stock presently has an average rating of Moderate Buy and an average price target of $34.11.

Aramark Price Performance

ARMK stock opened at $33.01 on Wednesday. The firm’s 50-day moving average price is $32.24 and its two-hundred day moving average price is $30.53. Aramark has a 12-month low of $23.95 and a 12-month high of $34.23. The stock has a market capitalization of $8.68 billion, a price-to-earnings ratio of 13.87, a PEG ratio of 1.35 and a beta of 1.56. The company has a current ratio of 1.25, a quick ratio of 1.11 and a debt-to-equity ratio of 2.03.

Aramark (NYSE:ARMK) last released its quarterly earnings data 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 for the quarter, compared to analysts’ expectations of $4.25 billion. As a group, equities analysts predict that Aramark will post 1.57 earnings per share for the current year.

Aramark Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, May 28th. Stockholders of record on Monday, May 13th were paid a $0.095 dividend. The ex-dividend date was Friday, May 10th. This represents a $0.38 annualized dividend and a dividend yield of 1.15%. Aramark’s dividend payout ratio is presently 15.97%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. lifted its stake in shares of Aramark by 0.5% in the fourth quarter. Vanguard Group Inc. now owns 25,584,242 shares of the company’s stock worth $718,917,000 after buying an additional 139,693 shares in the last quarter. Capital International Investors lifted its position in Aramark by 0.4% during the first quarter. Capital International Investors now owns 23,712,814 shares of the company’s stock valued at $771,141,000 after purchasing an additional 98,506 shares during the period. Farallon Capital Management LLC lifted its position in Aramark by 5.5% during the first quarter. Farallon Capital Management LLC now owns 17,822,937 shares of the company’s stock valued at $579,602,000 after purchasing an additional 923,683 shares during the period. Janus Henderson Group PLC lifted its position in Aramark by 5.4% during the first quarter. Janus Henderson Group PLC now owns 13,391,832 shares of the company’s stock valued at $435,501,000 after purchasing an additional 681,735 shares during the period. Finally, Morgan Stanley lifted its position in 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 purchasing an additional 186,969 shares during the period.

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.