The Manufacturers Life Insurance Company Sells 6,746 Shares of Aramark (NYSE:ARMK)

The Manufacturers Life Insurance Company trimmed its stake in Aramark (NYSE:ARMK) by 3.1% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 213,435 shares of the company’s stock after selling 6,746 shares during the quarter. The Manufacturers Life Insurance Company owned approximately 0.08% of Aramark worth $8,266,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in ARMK. Massachusetts Financial Services Co. MA increased its holdings in Aramark by 70.0% during the third quarter. Massachusetts Financial Services Co. MA now owns 8,329,917 shares of the company’s stock worth $322,618,000 after buying an additional 3,430,131 shares during the last quarter. Dimensional Fund Advisors LP grew its position in shares of Aramark by 18.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 4,731,963 shares of the company’s stock valued at $160,977,000 after acquiring an additional 720,738 shares during the period. Charles Schwab Investment Management Inc. increased its stake in shares of Aramark by 0.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,732,661 shares of the company’s stock worth $67,106,000 after purchasing an additional 14,839 shares during the last quarter. Millennium Management LLC raised its holdings in shares of Aramark by 822.3% in the 2nd quarter. Millennium Management LLC now owns 1,677,629 shares of the company’s stock valued at $57,073,000 after purchasing an additional 1,495,737 shares during the period. Finally, Public Employees Retirement Association of Colorado lifted its stake in Aramark by 13.8% in the 2nd quarter. Public Employees Retirement Association of Colorado now owns 922,212 shares of the company’s stock valued at $31,374,000 after purchasing an additional 112,038 shares during the last quarter.

Aramark Stock Performance

Shares of NYSE:ARMK opened at $40.19 on Wednesday. Aramark has a 12-month low of $26.58 and a 12-month high of $42.49. The company’s 50 day moving average price is $38.81 and its two-hundred day moving average price is $35.94. The firm has a market cap of $10.61 billion, a PE ratio of 40.60 and a beta of 1.63. The company has a quick ratio of 0.72, a current ratio of 0.81 and a debt-to-equity ratio of 1.42.

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

Aramark Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Monday, December 2nd will be paid a $0.001 dividend. This represents a $0.00 dividend on an annualized basis and a yield of 0.01%. The ex-dividend date of this dividend is Monday, December 2nd. Aramark’s dividend payout ratio (DPR) is presently 42.42%.

Analysts Set New Price Targets

ARMK has been the topic of several research analyst reports. UBS Group upped their price objective on Aramark from $40.00 to $44.00 and gave the company a “buy” rating in a research note on Tuesday, October 8th. Deutsche Bank Aktiengesellschaft raised Aramark from a “hold” rating to a “buy” rating and raised their price target for the company from $36.00 to $39.00 in a report on Wednesday, August 7th. The Goldman Sachs Group upped their price objective on shares of Aramark from $38.00 to $41.00 and gave the company a “buy” rating in a report on Wednesday, October 16th. Bank of America lifted their target price on shares of Aramark from $36.00 to $39.00 and gave the stock a “buy” rating in a report on Wednesday, August 7th. Finally, 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 report on Tuesday, November 12th. Three analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, Aramark presently has an average rating of “Moderate Buy” and a consensus price target 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.