130,196 Shares in Aramark (NYSE:ARMK) Acquired by Connor Clark & Lunn Investment Management Ltd.

Connor Clark & Lunn Investment Management Ltd. acquired a new stake in Aramark (NYSE:ARMK) during the third quarter, Holdings Channel.com reports. The institutional investor acquired 130,196 shares of the company’s stock, valued at approximately $5,042,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Huntington National Bank lifted its holdings in Aramark by 100.3% in the third quarter. Huntington National Bank now owns 681 shares of the company’s stock valued at $26,000 after buying an additional 341 shares during the period. Capital Performance Advisors LLP acquired a new position in shares of Aramark in the 3rd quarter valued at $28,000. UMB Bank n.a. boosted its position in shares of Aramark by 360.1% in the 3rd quarter. UMB Bank n.a. now owns 773 shares of the company’s stock worth $30,000 after purchasing an additional 605 shares during the last quarter. Friedenthal Financial acquired a new stake in shares of Aramark during the third quarter worth $52,000. Finally, GAMMA Investing LLC increased its holdings in Aramark by 319.3% in the second 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.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. JPMorgan Chase & Co. boosted their target price on Aramark from $41.00 to $45.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 12th. The Goldman Sachs Group upped their target price on shares of Aramark from $38.00 to $41.00 and gave the company a “buy” rating in a research note on Wednesday, October 16th. UBS Group boosted their price target on shares of Aramark from $40.00 to $44.00 and gave the company a “buy” rating in a report on Tuesday, October 8th. Stifel Nicolaus lifted their target price on Aramark from $43.00 to $45.00 and gave the stock a “buy” rating in a report on Tuesday, November 12th. Finally, Morgan Stanley increased their price target on Aramark from $38.00 to $40.00 and gave the stock an “equal weight” rating in a report on Tuesday, November 12th. Three research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $42.23.

Aramark Price Performance

NYSE ARMK opened at $40.86 on Friday. The firm’s 50 day moving average is $38.39 and its 200-day moving average is $35.50. The company has a quick ratio of 0.72, a current ratio of 0.81 and a debt-to-equity ratio of 1.42. The company has a market capitalization of $10.78 billion, a PE ratio of 41.27 and a beta of 1.62. Aramark has a 12-month low of $26.58 and a 12-month high of $42.04.

Aramark (NYSE:ARMK) last issued its quarterly earnings results on Monday, November 11th. The company reported $0.54 EPS for the quarter, hitting the consensus estimate of $0.54. The firm had revenue of $4.42 billion for the quarter, compared to analysts’ expectations of $4.46 billion. Aramark had a net margin of 1.51% and a return on equity of 14.06%. The company’s revenue for the quarter was up 5.2% on a year-over-year basis. During the same period in the previous year, the firm posted $0.64 EPS. Equities research analysts anticipate that Aramark will post 1.92 earnings per share for the current fiscal year.

Aramark Cuts Dividend

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

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.