O Shaughnessy Asset Management LLC Makes New $363,000 Investment in Aramark (NYSE:ARMK)

Posted by Defense World Staff on Jun 1st, 2023

O Shaughnessy Asset Management LLC purchased a new position in Aramark (NYSE:ARMK – Get Rating) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 8,769 shares of the company’s stock, valued at approximately $363,000.

Several other hedge funds have also recently added to or reduced their stakes in ARMK. Mitsubishi UFJ Trust & Banking Corp boosted its stake in Aramark by 0.7% in the 4th quarter. Mitsubishi UFJ Trust & Banking Corp now owns 135,447 shares of the company’s stock worth $5,599,000 after purchasing an additional 902 shares during the period. Tredje AP fonden boosted its stake in Aramark by 2.6% in the 4th quarter. Tredje AP fonden now owns 46,889 shares of the company’s stock worth $1,938,000 after purchasing an additional 1,190 shares during the period. Commerce Bank boosted its stake in Aramark by 4.4% in the 4th quarter. Commerce Bank now owns 7,337 shares of the company’s stock worth $303,000 after purchasing an additional 310 shares during the period. CI Investments Inc. boosted its stake in shares of Aramark by 152.7% during the 4th quarter. CI Investments Inc. now owns 2,517 shares of the company’s stock valued at $104,000 after buying an additional 1,521 shares during the period. Finally, Mitchell & Pahl Private Wealth LLC acquired a new stake in shares of Aramark during the 4th quarter valued at $206,000.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the stock. JPMorgan Chase & Co. reduced their price objective on shares of Aramark from $45.00 to $44.00 and set an “overweight” rating for the company in a research note on Wednesday, February 8th. Robert W. Baird dropped their target price on shares of Aramark from $43.00 to $39.00 and set a “neutral” rating on the stock in a report on Wednesday, March 22nd. Sanford C. Bernstein initiated coverage on shares of Aramark in a report on Wednesday, April 19th. They issued a “market perform” rating and a $38.00 target price on the stock. StockNews.com initiated coverage on shares of Aramark in a report on Thursday, May 18th. They issued a “hold” rating on the stock. Finally, Stifel Nicolaus dropped their target price on shares of Aramark from $45.00 to $42.00 and set a “buy” rating on the stock in a report on Tuesday, April 4th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, Aramark presently has a consensus rating of “Hold” and a consensus target price of $41.20.

Aramark Price Performance

Shares of Aramark stock opened at $39.47 on Thursday. The company has a debt-to-equity ratio of 2.48, a quick ratio of 1.01 and a current ratio of 1.21. The firm’s 50-day simple moving average is $36.05 and its 200-day simple moving average is $38.93. Aramark has a twelve month low of $28.74 and a twelve month high of $45.72. The firm has a market cap of $10.29 billion, a P/E ratio of 41.99, a price-to-earnings-growth ratio of 0.92 and a beta of 1.65.

Aramark Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, May 31st. Stockholders of record on Wednesday, May 17th were given a dividend of $0.11 per share. The ex-dividend date was Tuesday, May 16th. This represents a $0.44 annualized dividend and a dividend yield of 1.11%. Aramark’s dividend payout ratio (DPR) is currently 46.81%.

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.