Envestnet Asset Management Inc. Acquires 48,118 Shares of Aramark (NYSE:ARMK)

Envestnet Asset Management Inc. grew its position in Aramark (NYSE:ARMK) by 11.1% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 480,898 shares of the company’s stock after purchasing an additional 48,118 shares during the period. Envestnet Asset Management Inc. owned about 0.18% of Aramark worth $16,601,000 at the end of the most recent reporting period.

Other institutional investors also recently added to or reduced their stakes in the company. Proficio Capital Partners LLC purchased a new stake in shares of Aramark in the fourth quarter worth about $1,070,000. Raymond James Financial Inc. purchased a new stake in shares of Aramark in the fourth quarter worth about $3,979,000. HighTower Advisors LLC raised its stake in Aramark by 3.4% in the fourth quarter. HighTower Advisors LLC now owns 17,067 shares of the company’s stock valued at $637,000 after purchasing an additional 563 shares in the last quarter. Avantax Advisory Services Inc. purchased a new stake in Aramark in the fourth quarter valued at approximately $650,000. Finally, Natixis Advisors LLC raised its stake in Aramark by 1.8% in the fourth quarter. Natixis Advisors LLC now owns 113,139 shares of the company’s stock valued at $4,221,000 after purchasing an additional 2,003 shares in the last quarter.

Analyst Upgrades and Downgrades

Several research firms have commented on ARMK. Wall Street Zen downgraded shares of Aramark from a “buy” rating to a “hold” rating in a research note on Saturday, June 28th. Royal Bank Of Canada reissued an “outperform” rating and set a $47.00 price target on shares of Aramark in a research note on Wednesday, May 14th. Morgan Stanley raised their target price on shares of Aramark from $42.00 to $44.00 and gave the stock an “equal weight” rating in a report on Monday, June 30th. Finally, UBS Group raised their target price on shares of Aramark from $40.00 to $44.00 and gave the stock a “buy” rating in a report on Wednesday, May 7th. Three research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $43.91.

Aramark Price Performance

Shares of NYSE:ARMK opened at $43.25 on Friday. Aramark has a fifty-two week low of $29.92 and a fifty-two week high of $44.01. The business has a 50-day simple moving average of $40.75 and a two-hundred day simple moving average of $37.49. The company has a debt-to-equity ratio of 2.02, a quick ratio of 1.08 and a current ratio of 1.21. The firm has a market cap of $11.33 billion, a price-to-earnings ratio of 33.27 and a beta of 1.28.

Aramark (NYSE:ARMK) last released its quarterly earnings results on Tuesday, May 6th. The company reported $0.34 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.33 by $0.01. The business had revenue of $4.33 billion during the quarter, compared to the consensus estimate of $4.35 billion. Aramark had a return on equity of 15.07% and a net margin of 1.97%. The business’s quarterly revenue was up 1.9% compared to the same quarter last year. During the same period in the previous year, the company posted $0.30 EPS. On average, analysts expect that Aramark will post 1.92 earnings per share for the current year.

Aramark Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, May 28th. Stockholders of record on Wednesday, May 14th were issued a dividend of $0.105 per share. This represents a $0.42 annualized dividend and a dividend yield of 0.97%. Aramark’s dividend payout ratio (DPR) is 32.31%.

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.