Palisade Capital Management LLC NJ Acquires New Stake in Aramark (NYSE:ARMK)

Palisade Capital Management LLC NJ acquired a new stake in shares of Aramark (NYSE:ARMKGet Rating) during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 7,447 shares of the company’s stock, valued at approximately $280,000.

A number of other hedge funds have also made changes to their positions in ARMK. Column Capital Advisors LLC grew its position in Aramark by 6.2% in the fourth quarter. Column Capital Advisors LLC now owns 4,807 shares of the company’s stock worth $177,000 after buying an additional 282 shares during the last quarter. DekaBank Deutsche Girozentrale grew its position in Aramark by 1.5% in the first quarter. DekaBank Deutsche Girozentrale now owns 21,262 shares of the company’s stock worth $820,000 after buying an additional 312 shares during the last quarter. Deseret Mutual Benefit Administrators grew its position in Aramark by 15.2% in the fourth quarter. Deseret Mutual Benefit Administrators now owns 2,569 shares of the company’s stock worth $95,000 after buying an additional 339 shares during the last quarter. CWM LLC grew its position in Aramark by 108.4% in the first quarter. CWM LLC now owns 667 shares of the company’s stock worth $25,000 after buying an additional 347 shares during the last quarter. Finally, Daiwa Securities Group Inc. grew its position in Aramark by 1.2% in the first quarter. Daiwa Securities Group Inc. now owns 30,777 shares of the company’s stock worth $1,158,000 after buying an additional 350 shares during the last quarter.

Wall Street Analyst Weigh In

Separately, Morgan Stanley decreased their price objective on shares of Aramark from $37.00 to $35.00 and set an “equal weight” rating for the company in a research note on Wednesday, July 20th. One analyst has rated the stock with a sell rating, five have given a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, Aramark has an average rating of “Hold” and an average price target of $38.71.

Aramark Stock Up 0.3 %

ARMK stock opened at $35.17 on Friday. The company has a current ratio of 1.14, a quick ratio of 0.98 and a debt-to-equity ratio of 2.66. Aramark has a 1 year low of $28.74 and a 1 year high of $39.95. The company has a fifty day simple moving average of $31.99 and a 200 day simple moving average of $34.48. The firm has a market cap of $9.03 billion, a PE ratio of 60.64, a PEG ratio of 0.88 and a beta of 1.72.

Aramark (NYSE:ARMKGet Rating) last released its quarterly earnings data on Tuesday, May 10th. The company reported $0.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.21 by $0.01. Aramark had a net margin of 1.02% and a return on equity of 6.43%. The business had revenue of $3.86 billion during the quarter, compared to analyst estimates of $3.78 billion. During the same quarter in the previous year, the business earned ($0.24) EPS. Aramark’s quarterly revenue was up 36.9% compared to the same quarter last year. Sell-side analysts anticipate that Aramark will post 1.15 EPS for the current fiscal year.

Aramark Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, August 30th. Investors of record on Wednesday, August 17th will be issued a $0.11 dividend. The ex-dividend date of this dividend is Tuesday, August 16th. This represents a $0.44 annualized dividend and a yield of 1.25%. Aramark’s dividend payout ratio (DPR) is presently 75.86%.

Aramark Profile

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Aramark provides food, facilities, and uniform services to education, healthcare, business and industry, sports, leisure, and corrections clients in the United States and internationally. It operates through three segments: Food and Support Services United States, Food and Support Services International, and Uniform and Career Apparel.

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Institutional Ownership by Quarter for Aramark (NYSE:ARMK)

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