8,016 Shares in Aramark (NYSE:ARMK) Purchased by Avior Wealth Management LLC

Avior Wealth Management LLC purchased a new position in shares of Aramark (NYSE:ARMK) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 8,016 shares of the company’s stock, valued at approximately $225,000.

Several other hedge funds have also recently modified their holdings of ARMK. Raymond James Financial Services Advisors Inc. raised its position in shares of Aramark by 31.9% during the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 8,279 shares of the company’s stock worth $311,000 after purchasing an additional 2,002 shares during the last quarter. American Century Companies Inc. grew its stake in Aramark by 17.0% during the 1st quarter. American Century Companies Inc. now owns 9,139 shares of the company’s stock valued at $344,000 after acquiring an additional 1,325 shares in the last quarter. PNC Financial Services Group Inc. grew its stake in Aramark by 35.9% during the 1st quarter. PNC Financial Services Group Inc. now owns 1,693 shares of the company’s stock valued at $64,000 after acquiring an additional 447 shares in the last quarter. MetLife Investment Management LLC purchased a new stake in Aramark during the 1st quarter valued at about $174,000. Finally, BlackRock Inc. grew its stake in Aramark by 1.7% during the 1st quarter. BlackRock Inc. now owns 11,897,847 shares of the company’s stock valued at $447,358,000 after acquiring an additional 198,530 shares in the last quarter.

Aramark Stock Performance

Shares of ARMK stock opened at $31.86 on Friday. The firm’s 50 day moving average price is $31.38 and its 200-day moving average price is $28.93. The company has a debt-to-equity ratio of 2.08, a quick ratio of 1.12 and a current ratio of 1.27. Aramark has a one year low of $23.95 and a one year high of $33.04. The firm has a market cap of $8.36 billion, a P/E ratio of 13.33, a P/E/G ratio of 1.25 and a beta of 1.48.

Aramark (NYSE:ARMK) last issued its quarterly earnings data on Tuesday, February 6th. The company reported $0.41 EPS for the quarter, topping the consensus estimate of $0.36 by $0.05. Aramark had a net margin of 3.37% and a return on equity of 13.45%. The firm had revenue of $4.41 billion for the quarter, compared to analyst estimates of $4.29 billion. During the same period in the prior year, the business posted $0.41 EPS. The business’s revenue for the quarter was up 12.6% compared to the same quarter last year. As a group, equities research analysts predict that Aramark will post 1.56 EPS for the current year.

Aramark Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, February 28th. Stockholders of record on Wednesday, February 14th were issued a $0.095 dividend. The ex-dividend date was Tuesday, February 13th. This represents a $0.38 annualized dividend and a dividend yield of 1.19%. Aramark’s dividend payout ratio is currently 15.90%.

Analysts Set New Price Targets

ARMK has been the subject of several research reports. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $33.00 price objective on shares of Aramark in a research note on Wednesday, February 7th. Morgan Stanley upped their price objective on shares of Aramark from $28.00 to $30.00 and gave the company an “equal weight” rating in a research note on Wednesday, February 7th. The Goldman Sachs Group initiated coverage on shares of Aramark in a research note on Wednesday, January 17th. They set a “buy” rating and a $33.00 price objective for the company. Finally, Truist Financial increased their price target on shares of Aramark from $35.00 to $37.00 and gave the company a “buy” rating in a research note on Wednesday, March 20th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and ten have given a buy rating to the company. According to MarketBeat.com, Aramark has a consensus rating of “Moderate Buy” and an average price target of $33.04.

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.