Crossmark Global Holdings Inc. Sells 586 Shares of Aramark (NYSE:ARMK)

Crossmark Global Holdings Inc. cut its holdings in Aramark (NYSE:ARMK) by 3.5% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 15,928 shares of the company’s stock after selling 586 shares during the period. Crossmark Global Holdings Inc.’s holdings in Aramark were worth $617,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. Capital Performance Advisors LLP acquired a new stake in Aramark in the 3rd quarter valued at approximately $28,000. UMB Bank n.a. boosted its position in shares of Aramark by 360.1% in the third quarter. UMB Bank n.a. now owns 773 shares of the company’s stock valued at $30,000 after acquiring an additional 605 shares during the period. Twin Tree Management LP grew its stake in shares of Aramark by 32.0% in the first quarter. Twin Tree Management LP now owns 1,424 shares of the company’s stock worth $46,000 after acquiring an additional 345 shares during the last quarter. Friedenthal Financial bought a new position in Aramark during the third quarter worth $52,000. Finally, GAMMA Investing LLC raised its stake in Aramark by 319.3% during the 2nd quarter. GAMMA Investing LLC now owns 1,677 shares of the company’s stock valued at $57,000 after purchasing an additional 1,277 shares during the last quarter.

Aramark Price Performance

NYSE:ARMK opened at $37.36 on Friday. The firm has a market cap of $9.84 billion, a PE ratio of 37.74 and a beta of 1.62. The company’s 50-day moving average price is $38.27 and its two-hundred day moving average price is $35.20. The company has a quick ratio of 0.86, a current ratio of 0.81 and a debt-to-equity ratio of 1.42. Aramark has a 12 month low of $26.58 and a 12 month high of $42.04.

Aramark (NYSE:ARMK) last released its quarterly earnings results on Monday, November 11th. The company reported $0.54 EPS for the quarter, hitting analysts’ consensus estimates of $0.54. Aramark had a return on equity of 14.06% and a net margin of 1.51%. The business had revenue of $4.42 billion for the quarter, compared to analyst estimates of $4.46 billion. During the same period in the prior year, the company earned $0.64 EPS. Aramark’s revenue for the quarter was up 5.2% on a year-over-year basis. On average, equities analysts anticipate that Aramark will post 1.92 EPS for the current fiscal year.

Aramark Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Monday, December 2nd will be issued a dividend of $0.001 per share. This represents a $0.00 dividend on an annualized basis and a yield of 0.01%. The ex-dividend date is Monday, December 2nd. Aramark’s dividend payout ratio is currently 38.38%.

Analyst Ratings Changes

Several analysts have issued reports on ARMK shares. Morgan Stanley raised their price target on shares of Aramark from $38.00 to $40.00 and gave the stock an “equal weight” rating in a research report on Tuesday. StockNews.com raised Aramark from a “sell” rating to a “hold” rating in a report on Tuesday, October 29th. Royal Bank of Canada raised Aramark from a “sector perform” rating to an “outperform” rating and lifted their price objective for the stock from $36.00 to $42.50 in a report on Tuesday, September 17th. JPMorgan Chase & Co. upped their target price on Aramark from $41.00 to $45.00 and gave the company an “overweight” rating in a research note on Tuesday. Finally, Bank of America lifted their price target on shares of Aramark from $36.00 to $39.00 and gave the stock a “buy” rating in a research note on Wednesday, August 7th. Three analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, Aramark has an average rating of “Moderate Buy” and an average target price of $42.23.

Aramark Profile

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.