275,393 Aramark $ARMK Shares Bought by Pictet Asset Management Holding SA

Pictet Asset Management Holding SA boosted its position in Aramark (NYSE:ARMK) by 55.5% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 771,376 shares of the company’s stock after purchasing an additional 275,393 shares during the period. Pictet Asset Management Holding SA owned 0.29% of Aramark worth $41,307,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of ARMK. Reyes Financial Architecture Inc. acquired a new position in shares of Aramark in the third quarter valued at approximately $29,000. Elevation Wealth Partners LLC boosted its position in Aramark by 2,842.9% during the 2nd quarter. Elevation Wealth Partners LLC now owns 618 shares of the company’s stock worth $35,000 after buying an additional 597 shares during the period. CX Institutional boosted its position in Aramark by 76.1% during the 3rd quarter. CX Institutional now owns 694 shares of the company’s stock worth $37,000 after buying an additional 300 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. bought a new stake in Aramark during the 2nd quarter worth approximately $46,000. Finally, Parallel Advisors LLC grew its holdings in Aramark by 67.7% during the 1st quarter. Parallel Advisors LLC now owns 1,749 shares of the company’s stock worth $71,000 after acquiring an additional 706 shares during the last quarter.

Analyst Upgrades and Downgrades

ARMK has been the topic of several analyst reports. Royal Bank Of Canada boosted their price objective on shares of Aramark from $60.00 to $70.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 19th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $74.00 target price on shares of Aramark in a research report on Wednesday, August 12th. UBS Group reaffirmed a “buy” rating on shares of Aramark in a report on Tuesday, September 8th. New Street Research set a $70.00 price target on Aramark in a research report on Thursday, August 13th. Finally, Stifel Nicolaus upped their price target on Aramark from $54.00 to $70.00 and gave the company a “buy” rating in a research report on Wednesday, August 12th. Thirteen research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, Aramark has a consensus rating of “Moderate Buy” and a consensus target price of $69.25.

Aramark Price Performance

ARMK stock opened at $54.21 on Wednesday. The firm has a market cap of $14.29 billion, a price-to-earnings ratio of 37.91, a PEG ratio of 0.81 and a beta of 1.10. The company has a quick ratio of 1.14, a current ratio of 1.28 and a debt-to-equity ratio of 1.80. Aramark has a 12-month low of $35.07 and a 12-month high of $62.65. The company’s fifty day simple moving average is $55.35 and its 200 day simple moving average is $50.53.

Aramark (NYSE:ARMK) last issued its quarterly earnings results on Tuesday, August 11th. The company reported $0.52 earnings per share for the quarter, topping analysts’ consensus estimates of $0.48 by $0.04. Aramark had a return on equity of 17.68% and a net margin of 1.93%. The firm had revenue of $5.06 billion during the quarter, compared to the consensus estimate of $4.94 billion. During the same period last year, the business posted $0.40 EPS. The business’s revenue was up 9.3% compared to the same quarter last year. On average, analysts expect that Aramark will post 2.27 earnings per share for the current year.

About Aramark

Aramark provides food and facilities management services to organizations around the world. Its clients include schools and universities, hospitals and other healthcare providers, businesses, sports and entertainment venues, and correctional institutions. The company plans and operates dining programs, including meal preparation, catering, concessions, and retail food services. It also provides facilities services such as maintenance, cleaning, and related operational support tailored to client needs.