Aramark (NYSE:ARMK) Stake Reduced by Sasco Capital Inc. CT

Sasco Capital Inc. CT lessened its holdings in Aramark (NYSE:ARMK) by 22.2% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 664,970 shares of the company’s stock after selling 189,720 shares during the period. Aramark accounts for approximately 3.9% of Sasco Capital Inc. CT’s holdings, making the stock its 4th largest holding. Sasco Capital Inc. CT’s holdings in Aramark were worth $25,754,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Huntington National Bank raised its position 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 purchasing an additional 341 shares during the period. Capital Performance Advisors LLP purchased a new stake in shares of Aramark in the 3rd quarter valued at $28,000. UMB Bank n.a. lifted its stake 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 acquiring an additional 605 shares in the last quarter. Friedenthal Financial purchased a new position in Aramark during the 3rd quarter valued at about $52,000. Finally, GAMMA Investing LLC boosted its holdings 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 acquiring an additional 1,277 shares during the period.

Analyst Ratings Changes

Several analysts have recently issued reports on ARMK shares. Truist Financial increased their price target on shares of Aramark from $42.00 to $46.00 and gave the stock a “buy” rating in a research report on Tuesday, November 12th. Royal Bank of Canada upgraded shares of Aramark from a “sector perform” rating to an “outperform” rating and increased their target price for the stock from $36.00 to $42.50 in a report on Tuesday, September 17th. Morgan Stanley boosted their price target on shares of Aramark from $38.00 to $40.00 and gave the stock an “equal weight” rating in a research note on Tuesday, November 12th. Bank of America increased their price objective on Aramark from $36.00 to $39.00 and gave the company a “buy” rating in a research note on Wednesday, August 7th. Finally, Stifel Nicolaus lifted their target price on 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 issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $42.23.

Aramark Trading Down 0.3 %

NYSE:ARMK opened at $37.23 on Tuesday. The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.72 and a current ratio of 0.81. Aramark has a 1 year low of $26.58 and a 1 year high of $42.04. The stock has a market cap of $9.81 billion, a P/E ratio of 37.61 and a beta of 1.62. The stock has a 50-day simple moving average of $38.28 and a 200-day simple moving average of $35.29.

Aramark (NYSE:ARMK) last announced its quarterly earnings results on Monday, November 11th. The company reported $0.54 earnings per share (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 during the quarter, compared to the consensus estimate of $4.46 billion. During the same period in the prior year, the company posted $0.64 earnings per share. The firm’s quarterly revenue was up 5.2% compared to the same quarter last year. As a group, analysts anticipate that Aramark will post 1.92 earnings per share for the current fiscal year.

Aramark Cuts Dividend

The company 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 annualized dividend and a dividend yield of 0.01%. The ex-dividend date is Monday, December 2nd. Aramark’s 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.