Zurcher Kantonalbank Zurich Cantonalbank Grows Position in Aramark (NYSE:ARMK)

Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Aramark (NYSE:ARMK) by 36.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 51,988 shares of the company’s stock after purchasing an additional 13,833 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Aramark were worth $1,461,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in ARMK. EverSource Wealth Advisors LLC lifted its holdings in Aramark by 2,269.4% during the third quarter. EverSource Wealth Advisors LLC now owns 1,161 shares of the company’s stock valued at $40,000 after purchasing an additional 1,112 shares during the last quarter. CWM LLC lifted its holdings in Aramark by 67.0% during the third quarter. CWM LLC now owns 1,196 shares of the company’s stock valued at $42,000 after purchasing an additional 480 shares during the last quarter. Solstein Capital LLC purchased a new stake in Aramark during the fourth quarter valued at about $47,000. Fifth Third Bancorp lifted its holdings in Aramark by 82.7% during the fourth quarter. Fifth Third Bancorp now owns 1,873 shares of the company’s stock valued at $53,000 after purchasing an additional 848 shares during the last quarter. Finally, Oppenheimer Asset Management Inc. purchased a new stake in Aramark during the third quarter valued at about $213,000.

Aramark Stock Down 0.7 %

ARMK stock opened at $32.34 on Friday. The company has a current ratio of 1.27, a quick ratio of 1.12 and a debt-to-equity ratio of 2.08. The company’s 50 day moving average is $31.53 and its 200 day moving average is $29.19. The stock has a market cap of $8.49 billion, a price-to-earnings ratio of 13.53, a price-to-earnings-growth ratio of 1.29 and a beta of 1.48. Aramark has a 1-year low of $23.95 and a 1-year high of $33.04.

Aramark (NYSE:ARMK) last posted its quarterly earnings data on Tuesday, February 6th. The company reported $0.41 earnings per share for the quarter, topping the consensus estimate of $0.36 by $0.05. Aramark had a net margin of 3.37% and a return on equity of 13.45%. The company had revenue of $4.41 billion for the quarter, compared to analysts’ expectations of $4.29 billion. During the same period in the prior year, the business earned $0.41 earnings per share. Aramark’s revenue for the quarter was up 12.6% compared to the same quarter last year. Sell-side analysts predict that Aramark will post 1.56 EPS for the current fiscal year.

Aramark Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, February 28th. Shareholders of record on Wednesday, February 14th were given a dividend of $0.095 per share. This represents a $0.38 dividend on an annualized basis and a yield of 1.18%. The ex-dividend date was Tuesday, February 13th. Aramark’s payout ratio is currently 15.90%.

Analyst Upgrades and Downgrades

ARMK has been the topic of several analyst reports. The Goldman Sachs Group initiated coverage on Aramark in a research report on Wednesday, January 17th. They set a “buy” rating and a $33.00 price target on the stock. Truist Financial upped their price target on Aramark from $35.00 to $37.00 and gave the company a “buy” rating in a research report on Wednesday, March 20th. Morgan Stanley upped their price target on Aramark from $28.00 to $30.00 and gave the company an “equal weight” rating in a research report on Wednesday, February 7th. Finally, Royal Bank of Canada reiterated a “sector perform” rating and set a $33.00 price target on shares of Aramark in a research report on Wednesday, February 7th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $33.04.

Aramark Company 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.