Aramark (NYSE:ARMK) Shares Sold by Covestor Ltd

Covestor Ltd lowered its stake in shares of Aramark (NYSE:ARMK) by 38.2% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,268 shares of the company’s stock after selling 784 shares during the period. Covestor Ltd’s holdings in Aramark were worth $49,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the stock. Blue Trust Inc. boosted its position in shares of Aramark by 173.9% during the 3rd quarter. Blue Trust Inc. now owns 5,697 shares of the company’s stock valued at $221,000 after acquiring an additional 3,617 shares during the last quarter. Leeward Investments LLC MA acquired a new position in Aramark in the 2nd quarter valued at about $9,263,000. Public Employees Retirement Association of Colorado grew its stake in shares of Aramark by 19.1% in the 1st quarter. Public Employees Retirement Association of Colorado now owns 810,174 shares of the company’s stock valued at $26,347,000 after buying an additional 129,939 shares during the period. Asset Management One Co. Ltd. increased its holdings in shares of Aramark by 63.6% during the 3rd quarter. Asset Management One Co. Ltd. now owns 140,432 shares of the company’s stock worth $5,439,000 after buying an additional 54,580 shares during the last quarter. Finally, Comerica Bank raised its position in shares of Aramark by 14.9% during the 1st quarter. Comerica Bank now owns 126,658 shares of the company’s stock valued at $4,119,000 after buying an additional 16,423 shares during the period.

Aramark Stock Down 1.0 %

Aramark stock opened at $38.69 on Friday. The firm has a market capitalization of $10.19 billion, a P/E ratio of 39.06 and a beta of 1.62. The stock’s fifty day simple moving average is $38.24 and its 200-day simple moving average is $35.17. Aramark has a twelve month low of $26.27 and a twelve month high of $42.04. The company has a current ratio of 0.81, a quick ratio of 0.86 and a debt-to-equity ratio of 1.42.

Aramark (NYSE:ARMK) last posted 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 company had revenue of $4.42 billion for the quarter, compared to analyst estimates of $4.46 billion. During the same quarter last year, the company earned $0.64 EPS. Aramark’s revenue for the quarter was up 5.2% compared to the same quarter last year. As a group, equities analysts expect that Aramark will post 1.92 earnings per share for the current fiscal year.

Aramark Cuts Dividend

The company also recently declared 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 yield of 0.01%. The ex-dividend date of this dividend is Monday, December 2nd. Aramark’s dividend payout ratio (DPR) is presently 38.38%.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on ARMK. Truist Financial raised their target price on Aramark from $42.00 to $46.00 and gave the stock a “buy” rating in a research note on Tuesday. The Goldman Sachs Group raised their price objective on Aramark from $38.00 to $41.00 and gave the stock a “buy” rating in a research report on Wednesday, October 16th. JPMorgan Chase & Co. upped their target price on shares of Aramark from $41.00 to $45.00 and gave the company an “overweight” rating in a research report on Tuesday. StockNews.com raised shares of Aramark from a “sell” rating to a “hold” rating in a research note on Tuesday, October 29th. Finally, Stifel Nicolaus increased their price objective on shares of Aramark from $43.00 to $45.00 and gave the stock a “buy” rating in a research report on Tuesday. Three analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, Aramark presently 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.