Huntington National Bank Grows Position in Aramark (NYSE:ARMK)

Huntington National Bank grew its position in shares of Aramark (NYSE:ARMK) by 100.3% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 681 shares of the company’s stock after acquiring an additional 341 shares during the quarter. Huntington National Bank’s holdings in Aramark were worth $26,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

Aramark Stock Performance

Aramark stock opened at $37.70 on Wednesday. The firm’s 50 day simple moving average is $38.27 and its 200 day simple moving average is $35.33. 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 1-year low of $26.58 and a 1-year high of $42.04. The firm has a market capitalization of $9.93 billion, a PE ratio of 38.08 and a beta of 1.62.

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, meeting analysts’ consensus estimates of $0.54. The firm had revenue of $4.42 billion during 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 company’s revenue for the quarter was up 5.2% on a year-over-year basis. During the same quarter last year, the company posted $0.64 EPS. As a group, analysts expect that Aramark will post 1.92 earnings per share for the current fiscal year.

Aramark Cuts Dividend

The company also recently announced 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 of this dividend is Monday, December 2nd. Aramark’s dividend payout ratio is currently 38.38%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on ARMK shares. The Goldman Sachs Group lifted their target price on Aramark from $38.00 to $41.00 and gave the stock a “buy” rating in a research note on Wednesday, October 16th. Robert W. Baird increased their target price on shares of Aramark from $38.00 to $44.00 and gave the company a “neutral” rating in a research report on Tuesday, November 12th. StockNews.com raised shares of Aramark from a “sell” rating to a “hold” rating in a report on Tuesday, October 29th. Deutsche Bank Aktiengesellschaft raised Aramark from a “hold” rating to a “buy” rating and increased their price objective for the company from $36.00 to $39.00 in a report on Wednesday, August 7th. Finally, JPMorgan Chase & Co. boosted their target price on Aramark from $41.00 to $45.00 and gave the company an “overweight” rating in a research note on Tuesday, November 12th. Three research 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 a consensus 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.