State of New Jersey Common Pension Fund D Raises Stock Position in Aramark (NYSE:ARMK)

State of New Jersey Common Pension Fund D boosted its holdings in Aramark (NYSE:ARMK) by 4.3% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 136,152 shares of the company’s stock after purchasing an additional 5,630 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Aramark were worth $3,826,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. New York Life Investment Management LLC grew its position in shares of Aramark by 112.2% during the third quarter. New York Life Investment Management LLC now owns 27,665 shares of the company’s stock valued at $960,000 after purchasing an additional 14,628 shares in the last quarter. New York State Teachers Retirement System grew its position in shares of Aramark by 24.1% during the fourth quarter. New York State Teachers Retirement System now owns 141,849 shares of the company’s stock valued at $3,986,000 after purchasing an additional 27,522 shares in the last quarter. Nordea Investment Management AB grew its position in shares of Aramark by 121.0% during the fourth quarter. Nordea Investment Management AB now owns 368,303 shares of the company’s stock valued at $10,268,000 after purchasing an additional 201,623 shares in the last quarter. Envestnet Asset Management Inc. grew its position in shares of Aramark by 451.3% during the third quarter. Envestnet Asset Management Inc. now owns 107,062 shares of the company’s stock valued at $3,715,000 after purchasing an additional 87,641 shares in the last quarter. Finally, CenterBook Partners LP grew its position in shares of Aramark by 143.8% during the third quarter. CenterBook Partners LP now owns 90,635 shares of the company’s stock valued at $3,145,000 after purchasing an additional 53,463 shares in the last quarter.

Aramark Stock Up 0.1 %

Shares of NYSE ARMK opened at $32.35 on Friday. The company has a debt-to-equity ratio of 2.08, a current ratio of 1.27 and a quick ratio of 1.12. The company has a market cap of $8.49 billion, a P/E ratio of 13.54, a PEG ratio of 1.30 and a beta of 1.48. Aramark has a 1 year low of $23.95 and a 1 year high of $33.04. The firm has a 50-day simple moving average of $31.56 and a two-hundred day simple moving average of $29.24.

Aramark (NYSE:ARMK) last posted its quarterly earnings results on Tuesday, February 6th. The company reported $0.41 earnings per share for the quarter, beating 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 firm had revenue of $4.41 billion during the quarter, compared to the consensus estimate of $4.29 billion. During the same quarter in the previous year, the firm posted $0.41 earnings per share. The company’s revenue was up 12.6% on a year-over-year basis. Research analysts anticipate that Aramark will post 1.56 earnings per share for the current year.

Aramark Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, February 28th. Stockholders of record on Wednesday, February 14th were paid a dividend of $0.095 per share. This represents a $0.38 annualized dividend and a dividend yield of 1.17%. The ex-dividend date was Tuesday, February 13th. Aramark’s dividend payout ratio is presently 15.90%.

Wall Street Analysts Forecast Growth

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

About Aramark

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.