Wilmington Savings Fund Society FSB Buys New Holdings in Aramark (NYSE:ARMK)

Wilmington Savings Fund Society FSB purchased a new position in shares of Aramark (NYSE:ARMK) during the third quarter, according to its most recent disclosure with the SEC. The institutional investor purchased 19,645 shares of the company’s stock, valued at approximately $761,000.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. CIBC Asset Management Inc increased its position in shares of Aramark by 3.6% during the third quarter. CIBC Asset Management Inc now owns 7,621 shares of the company’s stock worth $295,000 after acquiring an additional 265 shares in the last quarter. Bradley Foster & Sargent Inc. CT boosted its stake in 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 purchasing an additional 310 shares during the last quarter. Huntington National Bank boosted its stake in Aramark by 100.3% during the 3rd quarter. Huntington National Bank now owns 681 shares of the company’s stock valued at $26,000 after purchasing an additional 341 shares during the last quarter. Cadent Capital Advisors LLC increased its holdings in Aramark by 4.7% during the 3rd quarter. Cadent Capital Advisors LLC now owns 7,711 shares of the company’s stock worth $299,000 after purchasing an additional 349 shares in the last quarter. Finally, HighTower Advisors LLC raised its stake in shares of Aramark by 2.5% in the third quarter. HighTower Advisors LLC now owns 16,504 shares of the company’s stock worth $643,000 after purchasing an additional 395 shares during the last quarter.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on ARMK. Truist Financial lifted their target price on Aramark from $42.00 to $46.00 and gave the company a “buy” rating in a research report on Tuesday, November 12th. JPMorgan Chase & Co. upped their target price on shares of Aramark from $41.00 to $45.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 12th. UBS Group increased their target price on shares of Aramark from $40.00 to $44.00 and gave the company a “buy” rating in a report on Tuesday, October 8th. Morgan Stanley boosted their price target on shares of Aramark from $40.00 to $43.00 and gave the stock an “equal weight” rating in a report on Thursday. Finally, Robert W. Baird upped their price objective on shares of Aramark from $44.00 to $45.00 and gave the stock a “neutral” rating in a research report on Thursday. Three research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $42.59.

Aramark Stock Performance

Shares of ARMK stock opened at $40.17 on Monday. The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.72 and a current ratio of 0.81. The firm has a market cap of $10.60 billion, a price-to-earnings ratio of 40.58 and a beta of 1.63. Aramark has a 52 week low of $27.05 and a 52 week high of $42.49. The firm’s 50-day simple moving average is $39.22 and its two-hundred day simple moving average is $36.43.

Aramark (NYSE:ARMK) last posted its quarterly earnings results on Monday, November 11th. The company reported $0.54 EPS for the quarter, hitting analysts’ consensus estimates of $0.54. Aramark had a net margin of 1.51% and a return on equity of 14.06%. The company had revenue of $4.42 billion for the quarter, compared to analysts’ expectations of $4.46 billion. During the same quarter in the previous year, the firm posted $0.64 EPS. Aramark’s revenue was up 5.2% on a year-over-year basis. As a group, equities analysts forecast that Aramark will post 1.92 earnings per share for the current year.

Aramark Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, December 12th. Stockholders of record on Monday, December 2nd were paid a dividend of $0.001 per share. The ex-dividend date was Monday, December 2nd. This represents a $0.00 annualized dividend and a dividend yield of 0.01%. Aramark’s payout ratio is 42.42%.

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.