The Vanguard Group, Inc. recently announced the acquisition of new stake in Aramark (NYSE:ARMK). The institutional investor has increased its shareholding in the Industrials company by 0.56% to 24.91 million shares with purchase of 0.14 million shares. This fresh investment now brings its stake to 9.54% valued currently at $670.73 million. In addition, BlackRock Fund Advisors raised its holdings by 0.54 million to 20.58 million shares. And Farallon Capital Management LLC has lifted its position by 26.74% or 3.24 million shares – to 15.38 million shares.
With over 5.09 million Aramark (ARMK) shares trading Tuesday and a closing price of $27.56 on the day, the dollar volume was approximately $140.34 million. The shares have shown a negative half year performance of -3.10% and its price on 11/28/23 lost nearly -1.75%. Currently, there are 261.45M common shares owned by the public and among those 259.82M shares have been available to trade.
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An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 14 analysts who have offered their price forecasts for ARMK have a consensus price objective of $31.61. The analysts have set the share’s price value over the next 12 months at a high of $35.00 and a low of $26.00. The average price target is 12.81% above its recent price level and a downside to the estimated low will see the stock lose -6.0% over that period. But an upside of 21.26% will see the stock hit the forecast high price target while median target price for the stock is $32.00.
Insiders at the company have transacted a total of 96 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 78 of these insider trades were purchases, accounting for 93,442 shares. Insider sales of the common stock occurred on 18 occasions, with total insider shares sold totaling 77,383 shares.
The top 3 mutual fund holders in Aramark are American Balanced Fund, Eaton Vance Atlanta Capital SMID, and Vanguard Total Stock Market ETF. American Balanced Fund owns 16.91 million shares of the company’s stock, all valued at over $455.47 million. Vanguard Total Stock Market ETF bought 12797.0 shares to bring its total holdings to over 8.16 million shares at a value of $219.86 million. Vanguard Total Stock Market ETF now owns shares totaling to 3.13% of the shares outstanding.
Shares of Aramark (NYSE: ARMK) opened at $27.95, down -$0.1 from a prior closing price of $28.05. However, the script later moved the day high at 28.05, down -1.75%. The company’s stock has a 5-day price change of -1.08% and 1.51% over the past three months. ARMK shares are trading -7.65% year to date (YTD), with the 12-month market performance down to -7.09% lower. It has a 12-month low price of $23.55 and touched a high of $33.01 over the same period. ARMK has an average intraday trading volume of 4.07 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -0.60%, 3.47%, and 1.32% respectively.
Institutional ownership of Aramark (NYSE: ARMK) shares accounts for 100.96% of the company’s 261.45M shares outstanding. Mutual fund holders own 49.64%, while other institutional holders and individual stakeholders account for 52.28% and 16.04% respectively.
It has a market capitalization of $7.21B and a beta (3y monthly) value of 1.54. The stock’s trailing 12-month PE ratio is 10.74, while the earnings-per-share (ttm) stands at $2.57. The company has a PEG of 0.54 and a Quick Ratio of 0.92 with the debt-to-equity ratio at 2.32. Price movements for the stock have been influenced by the stock’s volatility, which stands at 1.53% over the week and 2.28% over the month.
Analysts forecast that Aramark (ARMK) will achieve an EPS of $0.37 for the current quarter, $0.26 for the next quarter and $1.9 for 2025. The lowest estimate earnings-per-share for the quarter is $0.31 while analysts give the company a high EPS estimate of $0.45. Comparatively, EPS for the current quarter was $0.41 a year ago. Earnings per share for the fiscal year are expected to decrease by -10.96%, and 25.75% over the next financial year. EPS should grow at an annualized rate of 19.79% over the next five years, compared to 2.75% over the past 5-year period.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 14 brokerage firm advisors rate Aramark (ARMK) as a “Strong Buy” at a consensus score of 1.64. Specifically, 9 Wall Street analysts polled rate the stock as a buy, while 4 of the 14 advise that investors “hold,” and 0 rated it as a “Sell.”
Looking at the support for the ARMK, a number of firms have released research notes about the stock. Jefferies stated their Buy rating for the stock in a research note on October 09, 2023, with the firm’s price target at $44-$29.
