Axa S.A. Grows Stock Holdings in Aramark (NYSE:ARMK)

Posted by Defense World Staff on Mar 2nd, 2023

Axa S.A. lifted its position in Aramark (NYSE:ARMK – Get Rating) by 48.5% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 11,770 shares of the company’s stock after purchasing an additional 3,845 shares during the quarter. Axa S.A.’s holdings in Aramark were worth $367,000 at the end of the most recent quarter.

Several other institutional investors have also recently modified their holdings of ARMK. PointState Capital LP bought a new stake in Aramark in the third quarter worth $61,807,000. Goldman Sachs Group Inc. boosted its holdings in Aramark by 110.0% during the 1st quarter. Goldman Sachs Group Inc. now owns 3,402,426 shares of the company’s stock valued at $127,931,000 after acquiring an additional 1,782,146 shares during the period. Bank of Montreal Can boosted its holdings in Aramark by 4,311.6% during the 3rd quarter. Bank of Montreal Can now owns 1,547,979 shares of the company’s stock valued at $49,828,000 after acquiring an additional 1,512,890 shares during the period. Artemis Investment Management LLP purchased a new position in Aramark in the 3rd quarter worth approximately $22,740,000. Finally, Sasco Capital Inc. CT bought a new stake in Aramark in the second quarter valued at approximately $15,962,000.

Insider Activity

In other Aramark news, SVP Lauren A. Harrington sold 9,452 shares of the company’s stock in a transaction that occurred on Tuesday, December 13th. The stock was sold at an average price of $42.48, for a total value of $401,520.96. Following the completion of the transaction, the senior vice president now directly owns 64,106 shares in the company, valued at approximately $2,723,222.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Aramark news, SVP Lauren A. Harrington sold 9,452 shares of the business’s stock in a transaction on Tuesday, December 13th. The shares were sold at an average price of $42.48, for a total transaction of $401,520.96. Following the transaction, the senior vice president now owns 64,106 shares in the company, valued at $2,723,222.88. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Lynn Mckee sold 30,817 shares of the business’s stock in a transaction on Tuesday, December 13th. The shares were sold at an average price of $42.46, for a total value of $1,308,489.82. Following the transaction, the executive vice president now owns 281,714 shares of the company’s stock, valued at approximately $11,961,576.44. The disclosure for this sale can be found here. Insiders own 11.02% of the company’s stock.

Aramark Stock Performance

Shares of ARMK stock opened at $37.13 on Thursday. The company has a current ratio of 1.28, a quick ratio of 1.07 and a debt-to-equity ratio of 2.56. The company’s fifty day moving average price is $41.72 and its 200-day moving average price is $38.76. The stock has a market cap of $9.67 billion, a PE ratio of 42.68, a price-to-earnings-growth ratio of 0.82 and a beta of 1.65. Aramark has a 12 month low of $28.74 and a 12 month high of $45.72.

Aramark (NYSE:ARMK – Get Rating) last announced its quarterly earnings results on Tuesday, February 7th. The company reported $0.41 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.01). The firm had revenue of $4.60 billion during the quarter, compared to the consensus estimate of $4.52 billion. Aramark had a return on equity of 11.94% and a net margin of 1.33%. On average, equities analysts expect that Aramark will post 1.8 EPS for the current fiscal year.

Aramark Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 8th. Stockholders of record on Wednesday, February 22nd will be paid a $0.11 dividend. The ex-dividend date is Tuesday, February 21st. This represents a $0.44 annualized dividend and a dividend yield of 1.19%. Aramark’s dividend payout ratio (DPR) is 50.57%.

Analysts Set New Price Targets

Several brokerages have recently issued reports on ARMK. Morgan Stanley cut their target price on shares of Aramark from $44.00 to $43.00 and set an “equal weight” rating on the stock in a report on Wednesday, February 8th. JPMorgan Chase & Co. cut their target price on Aramark from $45.00 to $44.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 8th. Deutsche Bank Aktiengesellschaft lowered their price target on Aramark from $46.00 to $44.00 in a research report on Wednesday, February 8th. Citigroup boosted their target price on Aramark from $39.00 to $45.00 and gave the company a “neutral” rating in a research note on Friday, January 27th. Finally, Barclays lifted their price target on shares of Aramark from $34.00 to $36.00 and gave the company an “underweight” rating in a report on Friday, December 2nd. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, Aramark has a consensus rating of “Hold” and a consensus price target of $42.63.

Aramark Profile

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Aramark engages in the provision of food, facilities, and uniform services. It operates through the following segments: Food and Support Services United States (FSS United States), Food and Support Services International (FSS International), and Uniform and Career Apparel (Uniform). The FSS United States segment offers food, hospitality and facility services for school districts, colleges and universities, healthcare facilities, businesses, sports, entertainment and recreational venues, conference and convention centers, national and state parks, and correctional institutions.