Retirement Systems of Alabama Buys 92,103 Shares of Aramark $ARMK

Retirement Systems of Alabama grew its stake in Aramark (NYSE:ARMK) by 33.9% in the third quarter, Holdings Channel.com reports. The firm owned 364,072 shares of the company’s stock after acquiring an additional 92,103 shares during the quarter. Retirement Systems of Alabama’s holdings in Aramark were worth $19,496,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Reyes Financial Architecture Inc. purchased a new position in Aramark during the third quarter worth approximately $29,000. Elevation Wealth Partners LLC grew its holdings in Aramark by 2,842.9% in the 2nd quarter. Elevation Wealth Partners LLC now owns 618 shares of the company’s stock valued at $35,000 after buying an additional 597 shares in the last quarter. CX Institutional grew its holdings in Aramark by 76.1% in the 3rd quarter. CX Institutional now owns 694 shares of the company’s stock valued at $37,000 after buying an additional 300 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new stake in shares of Aramark in the 2nd quarter worth $46,000. Finally, Heritage Family Offices LLP acquired a new stake in shares of Aramark in the 3rd quarter worth $74,000.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on ARMK shares. New Street Research set a $70.00 price target on Aramark in a report on Thursday, August 13th. UBS Group dropped their price objective on shares of Aramark from $71.00 to $65.00 and set a “buy” rating for the company in a report on Wednesday. Jefferies Financial Group upped their price objective on shares of Aramark from $62.00 to $70.00 and gave the company a “buy” rating in a report on Wednesday, August 12th. Robert W. Baird raised their price objective on shares of Aramark from $63.00 to $69.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 12th. Finally, Truist Financial lifted their target price on shares of Aramark from $58.00 to $70.00 and gave the stock a “buy” rating in a research note on Monday, July 27th. Thirteen analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $68.82.

Aramark Trading Down 0.5%

ARMK opened at $53.92 on Thursday. Aramark has a one year low of $35.07 and a one year high of $62.65. The stock has a market capitalization of $14.22 billion, a PE ratio of 25.10, a P/E/G ratio of 0.80 and a beta of 1.10. The business’s 50 day moving average price is $55.30 and its 200 day moving average price is $50.60. The company has a debt-to-equity ratio of 1.80, a quick ratio of 1.14 and a current ratio of 1.28.

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

Aramark Company Profile

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.