In yesterday’s Wall Street session, Aramark (NYSE:ARMK) shares traded at $34.71, down -0.29% from the previous session.
As of this writing, 15 analysts cover Aramark (NYSE:ARMK). The consensus rating among analysts is ‘Overweight’. As we calculate the median target price by taking the range between a high of $50.00 and a low of $38.00, we find $45.00. Given the previous closing price of $34.81, this indicates a potential upside of 29.27 percent. ARMK stock price is now -9.52% away from the 50-day moving average and -10.88% away from the 200-day moving average. The market capitalization of the company currently stands at $9.06B.
There are 5 analysts who have given it a hold rating, whereas 8 have given it a buy rating. Brokers who have rated the stock have averaged $45.60 as their price target over the next twelve months.
With the price target enhanced from $45 to $47, Citigroup Upgraded its rating from Neutral to Buy for Aramark (NYSE: ARMK).
In other news, MCKEE LYNN, EVP, Human Resources sold 30,817 shares of the company’s stock on Dec 13. The stock was sold for $1,308,490 at an average price of $42.46. Upon completion of the transaction, the EVP, Human Resources now directly owns 281,714 shares in the company, valued at $9.78 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Dec 13, SVP and General Counsel Harrington Lauren A sold 9,452 shares of the business’s stock. A total of $401,521 was realized by selling the stock at an average price of $42.48. This leaves the insider owning 64,106 shares of the company worth $2.23 million. Insiders disposed of 65,490 shares of company stock worth roughly $2.27 million over the past 1 year. A total of 0.57% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in ARMK stock. A new stake in Aramark shares was purchased by CIBC WORLD MARKETS CORP during the first quarter worth $13,884,000. SQUAREPOINT OPS LLC invested $8,714,000 in shares of ARMK during the first quarter. In the first quarter, ALYESKA INVESTMENT GROUP, L.P. acquired a new stake in Aramark valued at approximately $5,520,000. POINT72 EUROPE (LONDON) LLP acquired a new stake in ARMK for approximately $5,163,000. STATE OF TENNESSEE, TREASURY DEPARTMENT purchased a new stake in ARMK valued at around $4,720,000 in the second quarter. In total, there are 523 active investors with 107.84% ownership of the company’s stock.
Wednesday morning saw Aramark (NYSE: ARMK) opened at $34.96. During the past 12 months, Aramark has had a low of $30.72 and a high of $45.72. As of last week, the company has a debt-to-equity ratio of 2.26, a current ratio of 1.30, and a quick ratio of 1.09. According to the stock market information, the enterprise value for the company is $16.71B, which is based on a 16.71 price-to-earnings ratio, a 0.51 price-to-earnings-growth ratio, and a beta of 1.62. The fifty day moving average price for ARMK is $38.20 and a two-hundred day moving average price translates $38.91 for the stock.
The latest earnings results from Aramark (NYSE: ARMK) was released for Jun, 2023. The net profit margin was 2.97% and return on equity was 16.84% for ARMK. The company reported revenue of $4.75 billion for the quarter, compared to $4.13 billion a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 15.07 percent.
Moreover, the firm recently paid out its quarterly dividend on 08/29/2023. Investors who held shares on 08/16/2023 were paid a $0.11 dividend. On an annualized basis, this represents a $0.44 dividend and a 1.26% percent yield. There was an ex-dividend date of 08/15/2023 for this dividend. In terms of dividend payout ratio, ARMK is presently at 58.61%.
