UBS Group Increases Aramark (NYSE:ARMK) Price Target to $40.00

Aramark (NYSE:ARMKFree Report) had its price target upped by UBS Group from $35.00 to $40.00 in a research note issued to investors on Friday morning, Benzinga reports. UBS Group currently has a buy rating on the stock.

A number of other analysts have also commented on ARMK. Truist Financial lifted their target price on shares of Aramark from $35.00 to $37.00 and gave the stock a buy rating in a report on Wednesday, March 20th. Oppenheimer upped their price objective on 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 raised their target price on Aramark from $35.00 to $37.00 and gave the stock a neutral rating in a report on Wednesday, May 8th. One analyst has rated the stock with a sell rating, four have issued a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat, Aramark currently has an average rating of Moderate Buy and a consensus price target of $34.89.

Get Our Latest Report on ARMK

Aramark Price Performance

Aramark stock opened at $33.91 on Friday. The business’s 50-day simple moving average is $32.41 and its 200 day simple moving average is $30.76. The company has a quick ratio of 1.11, a current ratio of 1.25 and a debt-to-equity ratio of 2.03. The stock has a market cap of $8.92 billion, a price-to-earnings ratio of 14.25, a P/E/G ratio of 1.35 and a beta of 1.56. Aramark has a 12-month low of $23.95 and a 12-month high of $34.23.

Aramark (NYSE:ARMKGet Free Report) last issued its earnings results on Tuesday, May 7th. The company reported $0.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.26 by $0.03. Aramark had a net margin of 3.43% and a return on equity of 13.82%. The company had revenue of $4.20 billion for the quarter, compared to analyst estimates of $4.25 billion. As a group, research analysts anticipate that Aramark will post 1.57 earnings per share for the current year.

Aramark Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, May 28th. Investors of record on Monday, May 13th were issued a dividend of $0.095 per share. The ex-dividend date of this dividend was Friday, May 10th. This represents a $0.38 dividend on an annualized basis and a dividend yield of 1.12%. Aramark’s payout ratio is 15.97%.

Hedge Funds Weigh In On Aramark

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Farallon Capital Management LLC lifted its holdings in shares of Aramark by 5.5% in the first quarter. Farallon Capital Management LLC now owns 17,822,937 shares of the company’s stock valued at $579,602,000 after purchasing an additional 923,683 shares in the last quarter. Strategic Wealth Partners Ltd. lifted its stake in Aramark by 10.4% in the 1st quarter. Strategic Wealth Partners Ltd. now owns 191,966 shares of the company’s stock valued at $6,243,000 after acquiring an additional 18,154 shares in the last quarter. iA Global Asset Management Inc. boosted its position in Aramark by 12.9% during the 1st quarter. iA Global Asset Management Inc. now owns 995,279 shares of the company’s stock worth $32,366,000 after acquiring an additional 113,354 shares during the last quarter. Comerica Bank boosted its position in Aramark by 14.9% during the 1st quarter. Comerica Bank now owns 126,658 shares of the company’s stock worth $4,119,000 after acquiring an additional 16,423 shares during the last quarter. Finally, Tidal Investments LLC grew its stake in shares of Aramark by 21.5% during the 1st quarter. Tidal Investments LLC now owns 42,585 shares of the company’s stock worth $1,385,000 after acquiring an additional 7,549 shares in the last quarter.

About Aramark

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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.

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