Forum Financial Management LP Takes Position in Aramark (NYSE:ARMK)

Forum Financial Management LP acquired a new position in Aramark (NYSE:ARMK) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 5,310 shares of the company’s stock, valued at approximately $206,000.

Other institutional investors also recently bought and sold shares of the company. Capital International Investors grew its position in shares of Aramark by 0.4% during the 1st quarter. Capital International Investors now owns 23,712,814 shares of the company’s stock worth $771,141,000 after buying an additional 98,506 shares in the last quarter. Farallon Capital Management LLC grew its holdings in Aramark by 5.5% during the 1st quarter. Farallon Capital Management LLC now owns 17,822,937 shares of the company’s stock worth $579,602,000 after acquiring an additional 923,683 shares in the last quarter. Janus Henderson Group PLC increased its position in Aramark by 5.4% during the 1st quarter. Janus Henderson Group PLC now owns 13,391,832 shares of the company’s stock valued at $435,501,000 after purchasing an additional 681,735 shares during the period. Dimensional Fund Advisors LP raised its holdings in shares of Aramark by 18.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 4,731,963 shares of the company’s stock valued at $160,977,000 after purchasing an additional 720,738 shares in the last quarter. Finally, Millennium Management LLC lifted its position in shares of Aramark by 822.3% in the 2nd quarter. Millennium Management LLC now owns 1,677,629 shares of the company’s stock worth $57,073,000 after purchasing an additional 1,495,737 shares during the period.

Aramark Stock Performance

Shares of Aramark stock opened at $38.34 on Wednesday. The firm has a market capitalization of $10.10 billion, a P/E ratio of 29.26 and a beta of 1.62. Aramark has a 52 week low of $25.92 and a 52 week high of $39.99. The company has a quick ratio of 0.86, a current ratio of 0.96 and a debt-to-equity ratio of 1.71. The company has a 50 day moving average price of $37.93 and a 200 day moving average price of $34.92.

Aramark (NYSE:ARMK) last posted its quarterly earnings data on Tuesday, August 6th. The company reported $0.31 EPS for the quarter, topping the consensus estimate of $0.30 by $0.01. Aramark had a net margin of 1.93% and a return on equity of 14.09%. The business had revenue of $4.38 billion during the quarter, compared to the consensus estimate of $4.31 billion. During the same period in the previous year, the firm posted $0.36 earnings per share. The business’s revenue for the quarter was up 8.0% compared to the same quarter last year. Sell-side analysts expect that Aramark will post 1.55 EPS for the current year.

Analyst Upgrades and Downgrades

ARMK has been the subject of a number of recent research reports. Truist Financial boosted their price objective on shares of Aramark from $37.00 to $42.00 and gave the stock a “buy” rating in a research note on Thursday, September 12th. JPMorgan Chase & Co. upped their price objective on Aramark from $39.00 to $41.00 and gave the stock an “overweight” rating in a research note on Monday, September 9th. The Goldman Sachs Group lifted their target price on Aramark from $38.00 to $41.00 and gave the company a “buy” rating in a research note on Wednesday, October 16th. Royal Bank of Canada raised shares of Aramark from a “sector perform” rating to an “outperform” rating and increased their price target for the company from $36.00 to $42.50 in a research report on Tuesday, September 17th. Finally, Deutsche Bank Aktiengesellschaft raised shares of Aramark from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $36.00 to $39.00 in a research report on Wednesday, August 7th. Three equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat, Aramark currently has a consensus rating of “Moderate Buy” and an average target price of $39.68.

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.