PNC Financial Services Group Inc. Acquires 790 Shares of Aramark (NYSE:ARMK)

PNC Financial Services Group Inc. boosted its position in Aramark (NYSE:ARMK) by 6.7% in the first quarter, Holdings Channel.com reports. The firm owned 12,662 shares of the company’s stock after buying an additional 790 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Aramark were worth $437,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Invesco Ltd. grew its stake in shares of Aramark by 24.6% in the fourth quarter. Invesco Ltd. now owns 1,163,577 shares of the company’s stock worth $43,413,000 after acquiring an additional 229,926 shares during the last quarter. Renaissance Technologies LLC bought a new position in shares of Aramark in the fourth quarter worth about $10,324,000. Raymond James Financial Inc. bought a new stake in Aramark during the 4th quarter valued at approximately $3,979,000. Bessemer Group Inc. raised its stake in Aramark by 93.0% during the 4th quarter. Bessemer Group Inc. now owns 770 shares of the company’s stock valued at $29,000 after purchasing an additional 371 shares during the period. Finally, Sterling Capital Management LLC grew its holdings in Aramark by 51.7% during the 4th quarter. Sterling Capital Management LLC now owns 16,369 shares of the company’s stock valued at $611,000 after buying an additional 5,576 shares in the last quarter.

Aramark Price Performance

ARMK opened at $39.65 on Friday. The business has a fifty day moving average of $41.67 and a 200 day moving average of $38.02. Aramark has a 52-week low of $29.92 and a 52-week high of $44.49. The company has a quick ratio of 1.14, a current ratio of 1.29 and a debt-to-equity ratio of 2.03. The stock has a market cap of $10.42 billion, a P/E ratio of 29.37 and a beta of 1.33.

Aramark (NYSE:ARMK) last posted its quarterly earnings data on Tuesday, August 5th. The company reported $0.40 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.40. Aramark had a return on equity of 15.67% and a net margin of 2.02%. The company had revenue of $4.63 billion during the quarter, compared to analysts’ expectations of $4.66 billion. During the same quarter in the previous year, the business earned $0.31 EPS. Aramark’s revenue was up 5.7% compared to the same quarter last year. As a group, sell-side analysts anticipate that Aramark will post 1.92 EPS for the current year.

Aramark Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, August 20th. Shareholders of record on Wednesday, August 6th will be given a dividend of $0.105 per share. This represents a $0.42 dividend on an annualized basis and a yield of 1.1%. Aramark’s dividend payout ratio (DPR) is presently 31.11%.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on ARMK shares. Morgan Stanley raised their price target on Aramark from $42.00 to $44.00 and gave the company an “equal weight” rating in a report on Monday, June 30th. Royal Bank Of Canada reiterated an “outperform” rating and issued a $47.00 target price on shares of Aramark in a report on Wednesday, May 14th. Robert W. Baird upgraded Aramark from a “neutral” rating to an “outperform” rating and lifted their target price for the stock from $43.00 to $47.00 in a report on Wednesday, August 6th. UBS Group set a $46.00 target price on Aramark and gave the stock a “buy” rating in a report on Wednesday, August 6th. Finally, Wall Street Zen cut Aramark from a “buy” rating to a “hold” rating in a report on Saturday, August 9th. Two analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $45.44.

Aramark 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.