Aramark (NYSE:ARMK) PT Raised to $38.00 at Morgan Stanley

Aramark (NYSE:ARMK) had its price objective lifted by Morgan Stanley from $35.00 to $38.00 in a research report report published on Monday morning, Benzinga reports. Morgan Stanley currently has an equal weight rating on the stock.

Several other equities analysts have also issued reports on the stock. Truist Financial lowered shares of Aramark from a strong-buy rating to a hold rating in a report on Wednesday, August 7th. JPMorgan Chase & Co. upped their target price on Aramark from $35.00 to $39.00 and gave the company an overweight rating in a research report on Wednesday, August 7th. UBS Group raised their price target on Aramark from $35.00 to $40.00 and gave the stock a buy rating in a report on Friday, June 21st. Oppenheimer upped their price objective on shares of Aramark from $36.00 to $39.00 and gave the company an outperform rating in a report on Wednesday, June 12th. Finally, Robert W. Baird lifted their target price on shares of Aramark from $37.00 to $38.00 and gave the stock a neutral rating in a research note on Wednesday, August 7th. Five investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, Aramark currently has a consensus rating of Moderate Buy and a consensus price target of $36.54.

Aramark Trading Up 0.5 %

Shares of NYSE ARMK opened at $37.99 on Monday. Aramark has a 1-year low of $23.95 and a 1-year high of $38.11. The business has a fifty day moving average price of $34.58 and a 200 day moving average price of $33.03. The stock has a market capitalization of $9.99 billion, a P/E ratio of 15.96, a price-to-earnings-growth ratio of 1.96 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 EPS for the quarter, beating the consensus estimate of $0.30 by $0.01. Aramark had a net margin of 1.93% and a return on equity of 14.09%. The business had revenue of $4.38 billion during the quarter, compared to analyst estimates of $4.31 billion. During the same period in the prior year, the firm posted $0.36 earnings per share. The company’s quarterly revenue was up 8.0% on a year-over-year basis. Equities research analysts expect that Aramark will post 1.57 EPS for the current fiscal year.

Aramark Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Monday, August 19th were paid a $0.095 dividend. The ex-dividend date was Monday, August 19th. This represents a $0.38 dividend on an annualized basis and a dividend yield of 1.00%. Aramark’s payout ratio is 15.97%.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. grew its stake in shares of Aramark by 0.5% during the 4th quarter. Vanguard Group Inc. now owns 25,584,242 shares of the company’s stock worth $718,917,000 after purchasing an additional 139,693 shares during the period. Capital International Investors increased its stake in shares of Aramark by 0.4% in the 1st 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 in the last quarter. Farallon Capital Management LLC boosted 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 worth $579,602,000 after purchasing an additional 923,683 shares in the last quarter. Janus Henderson Group PLC grew its holdings in Aramark by 5.4% in 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, Massachusetts Financial Services Co. MA increased its position in shares of Aramark by 27.7% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 4,983,507 shares of the company’s stock valued at $140,037,000 after buying an additional 1,081,358 shares in the last quarter.

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.