State of New Jersey Common Pension Fund D Boosts Stake in Aramark $ARMK

State of New Jersey Common Pension Fund D lifted its position in Aramark (NYSE:ARMK) by 2.4% in the second quarter, Holdings Channel reports. The firm owned 83,346 shares of the company’s stock after acquiring an additional 1,983 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Aramark were worth $3,490,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently added to or reduced their stakes in the company. Sumitomo Mitsui Trust Group Inc. boosted its holdings in shares of Aramark by 4.6% in the second quarter. Sumitomo Mitsui Trust Group Inc. now owns 27,728 shares of the company’s stock valued at $1,161,000 after acquiring an additional 1,224 shares during the period. Exencial Wealth Advisors LLC raised its position in Aramark by 46.5% in the 2nd quarter. Exencial Wealth Advisors LLC now owns 17,460 shares of the company’s stock valued at $731,000 after purchasing an additional 5,542 shares during the last quarter. Bayforest Capital Ltd acquired a new stake in Aramark during the 2nd quarter worth $51,000. Vanguard Personalized Indexing Management LLC grew its position in Aramark by 10.6% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 18,849 shares of the company’s stock worth $789,000 after purchasing an additional 1,803 shares during the last quarter. Finally, KLP Kapitalforvaltning AS increased its stake in Aramark by 4.3% in the second quarter. KLP Kapitalforvaltning AS now owns 55,600 shares of the company’s stock valued at $2,328,000 after purchasing an additional 2,300 shares during the period.

Wall Street Analysts Forecast Growth

ARMK has been the subject of several recent research reports. Baird R W upgraded shares of Aramark from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, August 6th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Aramark in a research report on Tuesday, October 14th. UBS Group dropped their target price on Aramark from $46.00 to $45.00 and set a “buy” rating on the stock in a report on Wednesday, October 1st. Wall Street Zen downgraded Aramark from a “buy” rating to a “hold” rating in a report on Saturday, August 9th. Finally, Morgan Stanley lifted their price objective on shares of Aramark from $42.00 to $44.00 and gave the company an “equal weight” rating in a research report on Monday, June 30th. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $45.88.

Aramark Price Performance

Shares of NYSE ARMK opened at $40.10 on Tuesday. The company’s fifty day moving average is $38.86 and its two-hundred day moving average is $39.17. The company has a debt-to-equity ratio of 2.03, a quick ratio of 1.14 and a current ratio of 1.29. The firm has a market capitalization of $10.54 billion, a P/E ratio of 29.70 and a beta of 1.21. Aramark has a one year low of $29.92 and a one year high of $44.49.

Aramark (NYSE:ARMK) last released its quarterly earnings data on Tuesday, August 5th. The company reported $0.40 EPS for the quarter, hitting analysts’ consensus estimates of $0.40. Aramark had a net margin of 2.02% and a return on equity of 15.67%. The firm had revenue of $4.63 billion for the quarter, compared to the consensus estimate of $4.66 billion. During the same quarter in the previous year, the firm earned $0.31 earnings per share. The firm’s revenue was up 5.7% on a year-over-year basis. Aramark has set its FY 2025 guidance at 1.910-1.980 EPS. Analysts forecast that Aramark will post 1.92 EPS for the current fiscal year.

About Aramark

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.