Nicolet Advisory Services LLC Buys New Shares in Aramark (NYSE:ARMK)

Nicolet Advisory Services LLC acquired a new position in Aramark (NYSE:ARMK) in the third quarter, Holdings Channel.com reports. The firm acquired 7,487 shares of the company’s stock, valued at approximately $284,000.

Several other institutional investors have also recently modified their holdings of the company. CIBC Asset Management Inc raised its position in Aramark by 3.6% in the 3rd quarter. CIBC Asset Management Inc now owns 7,621 shares of the company’s stock worth $295,000 after purchasing an additional 265 shares during the period. Bradley Foster & Sargent Inc. CT increased its holdings in shares of Aramark by 0.4% in the second quarter. Bradley Foster & Sargent Inc. CT now owns 69,987 shares of the company’s stock worth $2,381,000 after buying an additional 310 shares during the period. Industrial Alliance Investment Management Inc. lifted its stake in shares of Aramark by 3.3% in the 1st quarter. Industrial Alliance Investment Management Inc. now owns 10,660 shares of the company’s stock valued at $347,000 after acquiring an additional 340 shares during the last quarter. Huntington National Bank boosted its holdings in Aramark by 100.3% during the 3rd quarter. Huntington National Bank now owns 681 shares of the company’s stock valued at $26,000 after acquiring an additional 341 shares during the period. Finally, Cadent Capital Advisors LLC grew its position in Aramark by 4.7% during the 3rd quarter. Cadent Capital Advisors LLC now owns 7,711 shares of the company’s stock worth $299,000 after acquiring an additional 349 shares during the last quarter.

Aramark Price Performance

Shares of ARMK stock opened at $40.86 on Monday. The company has a quick ratio of 0.72, a current ratio of 0.81 and a debt-to-equity ratio of 1.42. The stock has a market cap of $10.78 billion, a price-to-earnings ratio of 41.27 and a beta of 1.62. The business’s fifty day moving average is $38.39 and its 200 day moving average is $35.53. Aramark has a twelve month low of $26.58 and a twelve month high of $42.04.

Aramark (NYSE:ARMK) last issued its quarterly earnings results on Monday, November 11th. The company reported $0.54 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.54. Aramark had a net margin of 1.51% and a return on equity of 14.06%. The company had revenue of $4.42 billion during the quarter, compared to analyst estimates of $4.46 billion. During the same period last year, the business earned $0.64 EPS. Aramark’s quarterly revenue was up 5.2% compared to the same quarter last year. Research analysts expect that Aramark will post 1.92 EPS for the current fiscal year.

Aramark Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Monday, December 2nd will be given a $0.001 dividend. The ex-dividend date is Monday, December 2nd. This represents a $0.00 dividend on an annualized basis and a dividend yield of 0.01%. Aramark’s dividend payout ratio is currently 38.38%.

Analysts Set New Price Targets

Several analysts have weighed in on ARMK shares. Bank of America boosted their price objective on Aramark from $36.00 to $39.00 and gave the company a “buy” rating in a research report on Wednesday, August 7th. Robert W. Baird increased their price target on shares of Aramark from $38.00 to $44.00 and gave the company a “neutral” rating in a research report on Tuesday, November 12th. Deutsche Bank Aktiengesellschaft upgraded shares of Aramark from a “hold” rating to a “buy” rating and boosted their price objective for the company from $36.00 to $39.00 in a research report on Wednesday, August 7th. UBS Group increased their target price on shares of Aramark from $40.00 to $44.00 and gave the stock a “buy” rating in a report on Tuesday, October 8th. Finally, JPMorgan Chase & Co. upped their price target on Aramark from $41.00 to $45.00 and gave the company an “overweight” rating in a research report on Tuesday, November 12th. Three investment 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.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $42.23.

Aramark 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.