PNC Financial Services Group Inc. Acquires 790 Shares of Aramark (NYSE:ARMK)

PNC Financial Services Group Inc. lifted its holdings in shares of Aramark (NYSE:ARMK) by 6.7% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 12,662 shares of the company’s stock after purchasing an additional 790 shares during the period. PNC Financial Services Group Inc.’s holdings in Aramark were worth $437,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Massachusetts Financial Services Co. MA raised its stake in Aramark by 29.5% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 17,605,896 shares of the company’s stock valued at $607,756,000 after acquiring an additional 4,012,162 shares during the period. PointState Capital LP raised its stake in Aramark by 135.4% in the 4th quarter. PointState Capital LP now owns 2,690,617 shares of the company’s stock valued at $100,387,000 after acquiring an additional 1,547,792 shares during the period. Egerton Capital UK LLP raised its stake in Aramark by 79.0% in the 1st quarter. Egerton Capital UK LLP now owns 2,075,126 shares of the company’s stock valued at $71,633,000 after acquiring an additional 916,054 shares during the period. Fiduciary Management Inc. WI raised its stake in Aramark by 8.1% in the 4th quarter. Fiduciary Management Inc. WI now owns 11,454,740 shares of the company’s stock valued at $427,376,000 after acquiring an additional 860,179 shares during the period. Finally, Janus Henderson Group PLC raised its stake in Aramark by 3.5% in the 4th quarter. Janus Henderson Group PLC now owns 16,268,682 shares of the company’s stock valued at $606,986,000 after acquiring an additional 554,239 shares during the period.

Aramark Stock Down 2.7%

Shares of NYSE ARMK opened at $39.65 on Friday. Aramark has a 12 month low of $29.92 and a 12 month high of $44.49. The company has a current ratio of 1.29, a quick ratio of 1.14 and a debt-to-equity ratio of 2.03. The firm has a market capitalization of $10.42 billion, a price-to-earnings ratio of 29.37 and a beta of 1.33. The business has a 50-day moving average of $41.67 and a 200-day moving average of $38.02.

Aramark (NYSE:ARMK) last issued its earnings results on Tuesday, August 5th. The company reported $0.40 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.40. The business had revenue of $4.63 billion during the quarter, compared to analyst estimates of $4.66 billion. Aramark had a return on equity of 15.67% and a net margin of 2.02%. Aramark’s revenue for the quarter was up 5.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.31 earnings per share. Sell-side analysts expect that Aramark will post 1.92 earnings per share for the current fiscal year.

Aramark Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 20th. Shareholders of record on Wednesday, August 6th will be given a $0.105 dividend. This represents a $0.42 annualized dividend and a yield of 1.1%. Aramark’s payout ratio is currently 31.11%.

Analyst Upgrades and Downgrades

ARMK has been the topic of a number of research reports. Robert W. Baird upgraded Aramark from a “neutral” rating to an “outperform” rating and boosted their price objective for the company from $43.00 to $47.00 in a research note on Wednesday, August 6th. Morgan Stanley upped their price target on Aramark from $42.00 to $44.00 and gave the company an “equal weight” rating in a research report on Monday, June 30th. Royal Bank Of Canada reiterated an “outperform” rating and set a $47.00 price target on shares of Aramark in a research report on Wednesday, May 14th. UBS Group set a $46.00 price target on Aramark and gave the company a “buy” rating in a research report on Wednesday, August 6th. Finally, Wall Street Zen cut Aramark from a “buy” rating to a “hold” rating in a research report on Saturday, August 9th. Two research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $45.44.

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.