Sumitomo Mitsui Trust Group Inc. Sells 2,442 Shares of Aramark (NYSE:ARMK)

Sumitomo Mitsui Trust Group Inc. lessened its holdings in Aramark (NYSE:ARMK) by 9.7% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 22,754 shares of the company’s stock after selling 2,442 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in Aramark were worth $881,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of ARMK. Millennium Management LLC boosted its holdings in shares of Aramark by 822.3% during the 2nd quarter. Millennium Management LLC now owns 1,677,629 shares of the company’s stock valued at $57,073,000 after acquiring an additional 1,495,737 shares in the last quarter. Farallon Capital Management LLC boosted its stake in shares of Aramark by 5.5% during the first quarter. Farallon Capital Management LLC now owns 17,822,937 shares of the company’s stock valued at $579,602,000 after purchasing an additional 923,683 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Aramark by 18.0% during the second quarter. Dimensional Fund Advisors LP now owns 4,731,963 shares of the company’s stock worth $160,977,000 after purchasing an additional 720,738 shares during the last quarter. Janus Henderson Group PLC increased its stake in shares of Aramark by 5.4% in the first quarter. Janus Henderson Group PLC now owns 13,391,832 shares of the company’s stock valued at $435,501,000 after buying an additional 681,735 shares during the period. Finally, Kingdon Capital Management L.L.C. bought a new position in Aramark in the 1st quarter valued at approximately $13,008,000.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on ARMK shares. StockNews.com raised shares of Aramark from a “sell” rating to a “hold” rating in a report on Tuesday, October 29th. Royal Bank of Canada upgraded Aramark from a “sector perform” rating to an “outperform” rating and increased their price objective for the company from $36.00 to $42.50 in a report on Tuesday, September 17th. Truist Financial lifted their target price on Aramark from $42.00 to $46.00 and gave the stock a “buy” rating in a report on Tuesday, November 12th. The Goldman Sachs Group upped their price target on Aramark from $38.00 to $41.00 and gave the company a “buy” rating in a research report on Wednesday, October 16th. Finally, Bank of America raised their price objective on Aramark from $36.00 to $39.00 and gave the stock a “buy” rating in a research 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 company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $42.23.

Aramark Price Performance

Shares of ARMK opened at $37.70 on Wednesday. The firm has a market cap of $9.93 billion, a PE ratio of 38.08 and a beta of 1.62. Aramark has a 52-week low of $26.58 and a 52-week high of $42.04. The business’s 50 day moving average price is $38.27 and its two-hundred day moving average price is $35.33. 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 (NYSE:ARMK) last released its 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. The company had revenue of $4.42 billion for the quarter, compared to the consensus estimate of $4.46 billion. Aramark had a net margin of 1.51% and a return on equity of 14.06%. Aramark’s quarterly revenue was up 5.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.64 EPS. On average, equities analysts anticipate that Aramark will post 1.92 EPS for the current year.

Aramark Cuts Dividend

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