Zurcher Kantonalbank Zurich Cantonalbank Purchases 13,833 Shares of Aramark (NYSE:ARMK)

Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Aramark (NYSE:ARMK) by 36.3% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 51,988 shares of the company’s stock after purchasing an additional 13,833 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Aramark were worth $1,461,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in ARMK. EverSource Wealth Advisors LLC increased its position in Aramark by 2,269.4% in the 3rd quarter. EverSource Wealth Advisors LLC now owns 1,161 shares of the company’s stock valued at $40,000 after acquiring an additional 1,112 shares in the last quarter. CWM LLC increased its stake in Aramark by 67.0% in the third quarter. CWM LLC now owns 1,196 shares of the company’s stock valued at $42,000 after purchasing an additional 480 shares in the last quarter. Solstein Capital LLC bought a new stake in Aramark in the fourth quarter valued at approximately $47,000. Fifth Third Bancorp increased its stake in Aramark by 82.7% in the fourth quarter. Fifth Third Bancorp now owns 1,873 shares of the company’s stock valued at $53,000 after purchasing an additional 848 shares in the last quarter. Finally, Oppenheimer Asset Management Inc. bought a new stake in Aramark in the third quarter valued at approximately $213,000.

Wall Street Analyst Weigh In

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

Aramark Stock Performance

Shares of ARMK opened at $32.34 on Friday. The stock has a market capitalization of $8.49 billion, a price-to-earnings ratio of 13.53, a PEG ratio of 1.29 and a beta of 1.48. The company has a current ratio of 1.27, a quick ratio of 1.12 and a debt-to-equity ratio of 2.08. The firm has a fifty day simple moving average of $31.53 and a 200 day simple moving average of $29.19. Aramark has a 12 month low of $23.95 and a 12 month high of $33.04.

Aramark (NYSE:ARMK) last announced its quarterly earnings results on Tuesday, February 6th. The company reported $0.41 EPS for the quarter, beating analysts’ consensus estimates of $0.36 by $0.05. The firm had revenue of $4.41 billion during the quarter, compared to analysts’ expectations of $4.29 billion. Aramark had a net margin of 3.37% and a return on equity of 13.45%. The company’s revenue for the quarter was up 12.6% compared to the same quarter last year. During the same quarter last year, the company posted $0.41 earnings per share. Research analysts forecast that Aramark will post 1.56 EPS for the current fiscal year.

Aramark Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, February 28th. Shareholders of record on Wednesday, February 14th were paid a $0.095 dividend. This represents a $0.38 dividend on an annualized basis and a yield of 1.18%. The ex-dividend date of this dividend was Tuesday, February 13th. Aramark’s dividend payout ratio is currently 15.90%.

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.