iA Global Asset Management Inc. Reduces Holdings in Aramark $ARMK

iA Global Asset Management Inc. cut its stake in shares of Aramark (NYSE:ARMK) by 31.6% in the 2nd quarter, HoldingsChannel reports. The fund owned 686,279 shares of the company’s stock after selling 317,302 shares during the quarter. iA Global Asset Management Inc.’s holdings in Aramark were worth $28,735,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the stock. Strs Ohio boosted its holdings in Aramark by 2.9% during the 2nd quarter. Strs Ohio now owns 43,860 shares of the company’s stock valued at $1,836,000 after acquiring an additional 1,229 shares during the period. Hantz Financial Services Inc. lifted its holdings in Aramark by 1,323.1% in the 2nd quarter. Hantz Financial Services Inc. now owns 1,295 shares of the company’s stock worth $54,000 after buying an additional 1,204 shares during the period. Bessemer Group Inc. lifted its holdings in Aramark by 56.6% in the 2nd quarter. Bessemer Group Inc. now owns 2,209 shares of the company’s stock worth $92,000 after buying an additional 798 shares during the period. Envestnet Asset Management Inc. lifted its holdings in Aramark by 3.4% in the 2nd quarter. Envestnet Asset Management Inc. now owns 497,078 shares of the company’s stock worth $20,813,000 after buying an additional 16,180 shares during the period. Finally, Leeward Investments LLC MA lifted its holdings in Aramark by 19.8% in the 2nd quarter. Leeward Investments LLC MA now owns 242,407 shares of the company’s stock worth $10,150,000 after buying an additional 40,148 shares during the period.

Aramark Stock Down 2.3%

Shares of NYSE:ARMK opened at $37.88 on Friday. Aramark has a 52-week low of $29.92 and a 52-week high of $44.49. The firm has a market capitalization of $9.96 billion, a P/E ratio of 28.06 and a beta of 1.21. The stock has a 50 day moving average price of $38.78 and a 200-day moving average price of $39.33. The company has a debt-to-equity ratio of 2.03, a quick ratio of 1.14 and a current ratio of 1.29.

Aramark (NYSE:ARMK) last announced its earnings results on Tuesday, August 5th. The company reported $0.40 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.40. Aramark had a return on equity of 15.67% and a net margin of 2.02%.The firm had revenue of $4.63 billion during the quarter, compared to analyst estimates of $4.66 billion. During the same quarter in the prior year, the company earned $0.31 EPS. The business’s revenue was up 5.7% compared to the same quarter last year. Aramark has set its FY 2025 guidance at 1.910-1.980 EPS. As a group, equities research analysts anticipate that Aramark will post 1.92 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the company. Baird R W upgraded Aramark from a “hold” rating to a “strong-buy” rating in a report on Wednesday, August 6th. Robert W. Baird upgraded Aramark from a “neutral” rating to an “outperform” rating and increased their price objective for the stock from $43.00 to $47.00 in a report on Wednesday, August 6th. UBS Group dropped their price objective on Aramark from $46.00 to $45.00 and set a “buy” rating for the company in a report on Wednesday, October 1st. Weiss Ratings reiterated a “hold (c+)” rating on shares of Aramark in a report on Tuesday, October 14th. Finally, Wall Street Zen lowered Aramark from a “buy” rating to a “hold” rating in a research report on Saturday, August 9th. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $45.88.

About Aramark

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.