Fmr LLC Sells 217,460 Shares of Aramark (NYSE:ARMK)

Fmr LLC cut its position in shares of Aramark (NYSE:ARMK) by 3.2% in the third quarter, Holdings Channel reports. The institutional investor owned 6,651,896 shares of the company’s stock after selling 217,460 shares during the period. Fmr LLC’s holdings in Aramark were worth $257,628,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Huntington National Bank grew its stake in shares of Aramark by 100.3% during the 3rd quarter. Huntington National Bank now owns 681 shares of the company’s stock worth $26,000 after acquiring an additional 341 shares in the last quarter. Capital Performance Advisors LLP acquired a new stake in Aramark in the 3rd quarter valued at $28,000. UMB Bank n.a. lifted its position in Aramark by 360.1% during the 3rd quarter. UMB Bank n.a. now owns 773 shares of the company’s stock worth $30,000 after buying an additional 605 shares in the last quarter. Friedenthal Financial acquired a new position in shares of Aramark during the 3rd quarter worth about $52,000. Finally, GAMMA Investing LLC grew its holdings in shares of Aramark by 319.3% in the 2nd quarter. GAMMA Investing LLC now owns 1,677 shares of the company’s stock valued at $57,000 after acquiring an additional 1,277 shares in the last quarter.

Wall Street Analyst Weigh In

Several research firms recently issued reports on ARMK. Morgan Stanley upped their target price on Aramark from $38.00 to $40.00 and gave the stock an “equal weight” rating in a report on Tuesday, November 12th. UBS Group increased their price objective on Aramark from $40.00 to $44.00 and gave the company a “buy” rating in a report on Tuesday, October 8th. Truist Financial boosted their target price on shares of Aramark from $42.00 to $46.00 and gave the stock a “buy” rating in a report on Tuesday, November 12th. Stifel Nicolaus increased their price target on shares of Aramark from $43.00 to $45.00 and gave the company a “buy” rating in a research note on Tuesday, November 12th. Finally, Bank of America upped their target price on shares of Aramark from $36.00 to $39.00 and gave the company a “buy” rating in a report on Wednesday, August 7th. Three investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $42.23.

Aramark Price Performance

Aramark stock opened at $40.69 on Monday. The company has a market capitalization of $10.74 billion, a price-to-earnings ratio of 41.10 and a beta of 1.62. The company has a current ratio of 0.81, a quick ratio of 0.72 and a debt-to-equity ratio of 1.42. Aramark has a 12 month low of $26.58 and a 12 month high of $42.49. The stock’s 50 day moving average is $38.68 and its 200-day moving average is $35.84.

Aramark (NYSE:ARMK) last issued its quarterly earnings data on Monday, November 11th. The company reported $0.54 EPS for the quarter, meeting analysts’ consensus estimates of $0.54. Aramark had a return on equity of 14.06% and a net margin of 1.51%. The firm 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 firm posted $0.64 EPS. The company’s revenue for the quarter was up 5.2% on a year-over-year basis. Equities research analysts expect that Aramark will post 1.92 EPS for the current year.

Aramark Cuts Dividend

The firm also recently disclosed 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. This represents a $0.00 annualized dividend and a yield of 0.01%. The ex-dividend date is Monday, December 2nd. Aramark’s dividend payout ratio (DPR) is 38.38%.

Aramark Company 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.