92,103 Aramark $ARMK Shares Acquired by Retirement Systems of Alabama

Retirement Systems of Alabama increased its holdings in shares of Aramark (NYSE:ARMK) by 33.9% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 364,072 shares of the company’s stock after buying an additional 92,103 shares during the period. Retirement Systems of Alabama owned about 0.14% of Aramark worth $19,496,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Brighton Jones LLC increased its holdings in Aramark by 4.9% in the 3rd quarter. Brighton Jones LLC now owns 34,649 shares of the company’s stock worth $1,855,000 after acquiring an additional 1,630 shares in the last quarter. Pictet Asset Management Holding SA lifted its holdings in Aramark by 55.5% during the third quarter. Pictet Asset Management Holding SA now owns 771,376 shares of the company’s stock valued at $41,307,000 after purchasing an additional 275,393 shares in the last quarter. Heritage Family Offices LLP purchased a new position in Aramark during the third quarter valued at $74,000. Kestra Advisory Services LLC grew its position in shares of Aramark by 19.8% in the third quarter. Kestra Advisory Services LLC now owns 5,765 shares of the company’s stock valued at $309,000 after purchasing an additional 954 shares during the period. Finally, Collaborative Fund Advisors LLC grew its position in shares of Aramark by 68.8% in the third quarter. Collaborative Fund Advisors LLC now owns 7,545 shares of the company’s stock valued at $404,000 after purchasing an additional 3,074 shares during the period.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on ARMK. New Street Research set a $70.00 price target on shares of Aramark in a research report on Thursday, August 13th. Royal Bank Of Canada lifted their price objective on Aramark from $60.00 to $70.00 and gave the stock an “outperform” rating in a report on Wednesday, August 19th. Jefferies Financial Group lifted their price objective on Aramark from $62.00 to $70.00 and gave the stock a “buy” rating in a report on Wednesday, August 12th. Morgan Stanley set a $63.00 price objective on Aramark in a research note on Tuesday, August 11th. Finally, The Goldman Sachs Group reissued a “buy” rating and set a $70.00 target price on shares of Aramark in a report on Wednesday, August 12th. Thirteen research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $68.82.

Aramark Trading Down 0.5%

Shares of ARMK stock opened at $53.92 on Thursday. Aramark has a fifty-two week low of $35.07 and a fifty-two week high of $62.65. The company has a debt-to-equity ratio of 1.80, a quick ratio of 1.14 and a current ratio of 1.28. The stock’s fifty day moving average is $55.30 and its two-hundred day moving average is $50.60. The firm has a market capitalization of $14.22 billion, a P/E ratio of 25.10, a PEG ratio of 0.80 and a beta of 1.10.

Aramark (NYSE:ARMK) last released its earnings results on Tuesday, August 11th. The company reported $0.52 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.48 by $0.04. The business had revenue of $5.06 billion during the quarter, compared to analyst estimates of $4.94 billion. Aramark had a net margin of 1.93% and a return on equity of 17.68%. The company’s revenue for the quarter was up 9.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.40 earnings per share. Research analysts expect that Aramark will post 2.27 earnings per share for the current fiscal year.

About Aramark

Aramark provides food and facilities management services to organizations around the world. Its clients include schools and universities, hospitals and other healthcare providers, businesses, sports and entertainment venues, and correctional institutions. The company plans and operates dining programs, including meal preparation, catering, concessions, and retail food services. It also provides facilities services such as maintenance, cleaning, and related operational support tailored to client needs.