State of Alaska Department of Revenue Lowers Stake in Aramark $ARMK

State of Alaska Department of Revenue cut its stake in Aramark (NYSE:ARMK) by 5.3% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 29,405 shares of the company’s stock after selling 1,650 shares during the period. State of Alaska Department of Revenue’s holdings in Aramark were worth $1,231,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the stock. Cadent Capital Advisors LLC increased its holdings in Aramark by 16.7% during the 2nd quarter. Cadent Capital Advisors LLC now owns 9,000 shares of the company’s stock worth $377,000 after purchasing an additional 1,289 shares during the period. Steph & Co. bought a new stake in shares of Aramark in the second quarter valued at about $128,000. Public Employees Retirement System of Ohio lifted its stake in Aramark by 1.6% in the second quarter. Public Employees Retirement System of Ohio now owns 81,941 shares of the company’s stock worth $3,431,000 after acquiring an additional 1,314 shares during the period. GAMMA Investing LLC grew its holdings in Aramark by 4.0% during the 2nd quarter. GAMMA Investing LLC now owns 6,619 shares of the company’s stock worth $277,000 after acquiring an additional 255 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC purchased a new position in Aramark during the 2nd quarter valued at about $273,000.

Analyst Ratings Changes

A number of equities analysts recently commented on ARMK shares. Baird R W raised shares of Aramark from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, August 6th. UBS Group cut their price target on Aramark from $46.00 to $45.00 and set a “buy” rating on the stock in a report on Wednesday. Morgan Stanley raised their price objective on Aramark from $42.00 to $44.00 and gave the company an “equal weight” rating in a research report on Monday, June 30th. Weiss Ratings reiterated a “hold (c)” rating on shares of Aramark in a research note on Saturday, September 27th. Finally, Wall Street Zen lowered shares of Aramark from a “buy” rating to a “hold” rating in a research report on Saturday, August 9th. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $45.33.

Aramark Trading Up 1.3%

Shares of Aramark stock opened at $39.00 on Friday. The stock has a market cap of $10.25 billion, a PE ratio of 28.89 and a beta of 1.21. The firm has a fifty day moving average price of $39.33 and a 200 day moving average price of $38.47. Aramark has a 1 year low of $29.92 and a 1 year high of $44.49. The company has a debt-to-equity ratio of 2.03, a current ratio of 1.29 and a quick ratio of 1.14.

Aramark (NYSE:ARMK) last posted its quarterly earnings results on Tuesday, August 5th. The company reported $0.40 EPS for the quarter, meeting the consensus estimate of $0.40. The company had revenue of $4.63 billion for the quarter, compared to analyst estimates of $4.66 billion. Aramark had a net margin of 2.02% and a return on equity of 15.67%. The firm’s revenue was up 5.7% on a year-over-year basis. During the same period in the prior year, the company earned $0.31 earnings per share. Aramark has set its FY 2025 guidance at 1.910-1.980 EPS. Equities research analysts predict that Aramark will post 1.92 earnings per share for the current year.

Aramark Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, August 20th. Shareholders of record on Wednesday, August 6th were issued a $0.105 dividend. The ex-dividend date of this dividend was Wednesday, August 6th. This represents a $0.42 dividend on an annualized basis and a yield of 1.1%. Aramark’s payout ratio is presently 31.11%.

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.