Forum Financial Management LP Invests $206,000 in Aramark (NYSE:ARMK)

Forum Financial Management LP bought a new stake in shares of Aramark (NYSE:ARMK) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 5,310 shares of the company’s stock, valued at approximately $206,000.

Several other hedge funds also recently bought and sold shares of ARMK. UMB Bank n.a. grew its holdings in Aramark by 360.1% during the 3rd quarter. UMB Bank n.a. now owns 773 shares of the company’s stock valued at $30,000 after buying an additional 605 shares in the last quarter. Twin Tree Management LP grew its stake in Aramark by 32.0% during the first quarter. Twin Tree Management LP now owns 1,424 shares of the company’s stock valued at $46,000 after acquiring an additional 345 shares in the last quarter. Friedenthal Financial bought a new stake in Aramark in the 3rd quarter valued at $52,000. GAMMA Investing LLC increased its holdings in Aramark by 319.3% in the 2nd quarter. GAMMA Investing LLC now owns 1,677 shares of the company’s stock valued at $57,000 after acquiring an additional 1,277 shares during the last quarter. Finally, Versant Capital Management Inc lifted its stake in Aramark by 44,750.0% in the 2nd quarter. Versant Capital Management Inc now owns 1,794 shares of the company’s stock worth $61,000 after purchasing an additional 1,790 shares in the last quarter.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on ARMK shares. Deutsche Bank Aktiengesellschaft upgraded Aramark from a “hold” rating to a “buy” rating and boosted their target price for the stock from $36.00 to $39.00 in a research report on Wednesday, August 7th. Bank of America raised their target price on shares of Aramark from $36.00 to $39.00 and gave the company a “buy” rating in a report on Wednesday, August 7th. The Goldman Sachs Group upped their price target on shares of Aramark from $38.00 to $41.00 and gave the company a “buy” rating in a research note on Wednesday, October 16th. Truist Financial lifted their price objective on shares of Aramark from $37.00 to $42.00 and gave the stock a “buy” rating in a research note on Thursday, September 12th. Finally, UBS Group upped their target price on shares of Aramark from $40.00 to $44.00 and gave the company a “buy” rating in a research report on Tuesday, October 8th. Three investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, Aramark presently has an average rating of “Moderate Buy” and an average target price of $39.68.

Aramark Trading Up 0.5 %

ARMK opened at $38.34 on Wednesday. The company has a debt-to-equity ratio of 1.71, a quick ratio of 0.86 and a current ratio of 0.96. The stock’s 50 day moving average price is $37.93 and its 200-day moving average price is $34.92. Aramark has a one year low of $25.92 and a one year high of $39.99. The stock has a market cap of $10.10 billion, a price-to-earnings ratio of 29.26 and a beta of 1.62.

Aramark (NYSE:ARMK) last announced its quarterly earnings data on Tuesday, August 6th. The company reported $0.31 EPS for the quarter, beating the consensus estimate of $0.30 by $0.01. The company had revenue of $4.38 billion for the quarter, compared to the consensus estimate of $4.31 billion. Aramark had a return on equity of 14.09% and a net margin of 1.93%. Aramark’s quarterly revenue was up 8.0% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.36 EPS. On average, equities analysts forecast that Aramark will post 1.55 EPS for the current year.

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.