Aramark (NYSE:ARMK) Stock Price Down 2.3%

Shares of Aramark (NYSE:ARMK) dropped 2.3% on Thursday . The company traded as low as $35.13 and last traded at $35.13. Approximately 681,510 shares changed hands during trading, a decline of 71% from the average daily volume of 2,323,623 shares. The stock had previously closed at $35.97.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on ARMK shares. Royal Bank of Canada lifted their price target on Aramark from $33.00 to $36.00 and gave the company a “sector perform” rating in a report on Wednesday, August 7th. Truist Financial lowered shares of Aramark from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, August 7th. Robert W. Baird raised their price target on shares of Aramark from $37.00 to $38.00 and gave the company a “neutral” rating in a report on Wednesday, August 7th. Deutsche Bank Aktiengesellschaft raised Aramark from a “hold” rating to a “buy” rating and upped their price objective for the stock from $36.00 to $39.00 in a report on Wednesday, August 7th. Finally, UBS Group lifted their target price on Aramark from $35.00 to $40.00 and gave the company a “buy” rating in a research note on Friday, June 21st. Five analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, Aramark presently has a consensus rating of “Moderate Buy” and a consensus target price of $35.82.

Aramark Trading Down 1.1 %

The firm has a market capitalization of $9.35 billion, a P/E ratio of 14.86, a PEG ratio of 1.77 and a beta of 1.59. The company has a current ratio of 1.25, a quick ratio of 1.11 and a debt-to-equity ratio of 2.03. The business has a 50 day moving average of $33.58 and a 200-day moving average of $32.20.

Aramark (NYSE:ARMK) last announced its earnings results on Tuesday, August 6th. The company reported $0.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.30 by $0.01. Aramark had a return on equity of 13.82% and a net margin of 3.43%. The business had revenue of $4.38 billion for the quarter, compared to analyst estimates of $4.31 billion. During the same quarter last year, the firm earned $0.36 EPS. Aramark’s revenue for the quarter was up 8.0% compared to the same quarter last year. Analysts anticipate that Aramark will post 1.57 EPS for the current fiscal year.

Aramark Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 3rd. Shareholders of record on Monday, August 19th will be given a dividend of $0.095 per share. This represents a $0.38 annualized dividend and a yield of 1.07%. The ex-dividend date of this dividend is Monday, August 19th. Aramark’s dividend payout ratio (DPR) is currently 15.97%.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in ARMK. Louisiana State Employees Retirement System bought a new position in shares of Aramark during the fourth quarter worth approximately $2,060,000. Strs Ohio boosted its position in shares of Aramark by 33.4% in the fourth quarter. Strs Ohio now owns 49,718 shares of the company’s stock valued at $1,397,000 after acquiring an additional 12,462 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Aramark by 36.3% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 51,988 shares of the company’s stock valued at $1,461,000 after acquiring an additional 13,833 shares during the period. Avior Wealth Management LLC acquired a new position in shares of Aramark in the fourth quarter valued at about $225,000. Finally, Xponance Inc. increased its position in Aramark by 3.9% during the fourth quarter. Xponance Inc. now owns 32,121 shares of the company’s stock worth $903,000 after acquiring an additional 1,202 shares during the period.

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.