Balyasny Asset Management LLC Acquires Shares of 1,048,141 Aramark (NYSE:ARMK)

Posted by Defense World Staff on Mar 15th, 2023

Balyasny Asset Management LLC acquired a new stake in Aramark (NYSE:ARMK – Get Rating) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 1,048,141 shares of the company’s stock, valued at approximately $32,702,000. Balyasny Asset Management LLC owned about 0.41% of Aramark at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in ARMK. Exos TFP Holdings LLC purchased a new stake in Aramark in the third quarter valued at approximately $53,000. PNC Financial Services Group Inc. lifted its stake in Aramark by 35.9% in the first quarter. PNC Financial Services Group Inc. now owns 1,693 shares of the company’s stock valued at $64,000 after buying an additional 447 shares during the last quarter. Neo Ivy Capital Management purchased a new stake in Aramark in the second quarter valued at approximately $156,000. MetLife Investment Management LLC purchased a new stake in Aramark in the first quarter valued at approximately $174,000. Finally, Empirical Financial Services LLC d.b.a. Empirical Wealth Management purchased a new stake in Aramark in the first quarter valued at approximately $200,000.

Aramark Trading Up 1.2 %

Shares of ARMK stock opened at $34.42 on Wednesday. The business’s fifty day moving average price is $40.82 and its 200 day moving average price is $38.74. Aramark has a 1-year low of $28.74 and a 1-year high of $45.72. The firm has a market capitalization of $8.97 billion, a PE ratio of 39.56, a P/E/G ratio of 0.76 and a beta of 1.67. The company has a debt-to-equity ratio of 2.56, a current ratio of 1.28 and a quick ratio of 1.07.

Aramark (NYSE:ARMK – Get Rating) last announced its quarterly earnings data on Tuesday, February 7th. The company reported $0.41 earnings per share for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.01). The business had revenue of $4.60 billion for the quarter, compared to analyst estimates of $4.52 billion. Aramark had a return on equity of 11.94% and a net margin of 1.33%. As a group, sell-side analysts forecast that Aramark will post 1.8 EPS for the current fiscal year.

Aramark Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 8th. Shareholders of record on Wednesday, February 22nd were issued a $0.11 dividend. This represents a $0.44 annualized dividend and a yield of 1.28%. The ex-dividend date of this dividend was Tuesday, February 21st. Aramark’s dividend payout ratio (DPR) is 50.57%.

Analysts Set New Price Targets

A number of research firms have recently issued reports on ARMK. TheStreet lowered Aramark from a “b-” rating to a “c+” rating in a report on Wednesday, March 1st. Barclays boosted their target price on Aramark from $34.00 to $36.00 and gave the company an “underweight” rating in a report on Friday, December 2nd. JPMorgan Chase & Co. dropped their target price on Aramark from $45.00 to $44.00 and set an “overweight” rating on the stock in a report on Wednesday, February 8th. Morgan Stanley dropped their target price on Aramark from $44.00 to $43.00 and set an “equal weight” rating on the stock in a report on Wednesday, February 8th. Finally, Royal Bank of Canada reissued a “sector perform” rating and issued a $48.00 target price on shares of Aramark in a report on Wednesday, February 8th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $42.63.

About Aramark

(Get Rating)

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.