130,196 Shares in Aramark (NYSE:ARMK) Bought by Connor Clark & Lunn Investment Management Ltd.

Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of Aramark (NYSE:ARMK) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 130,196 shares of the company’s stock, valued at approximately $5,042,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in ARMK. Farallon Capital Management LLC boosted its holdings in shares of Aramark by 5.5% during 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 period. Janus Henderson Group PLC lifted its position in Aramark by 5.4% during the 1st 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 last quarter. Dimensional Fund Advisors LP boosted its holdings in 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 period. Millennium Management LLC grew its position in shares of Aramark by 822.3% in the second 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 last quarter. Finally, iA Global Asset Management Inc. increased its stake in shares of Aramark by 12.9% in the first quarter. iA Global Asset Management Inc. now owns 995,279 shares of the company’s stock worth $32,366,000 after purchasing an additional 113,354 shares during the period.

Aramark Stock Performance

Aramark stock opened at $40.86 on Friday. The firm has a market capitalization of $10.78 billion, a P/E ratio of 41.27 and a beta of 1.62. The stock has a fifty day moving average price of $38.39 and a two-hundred day moving average price of $35.50. Aramark has a 52-week low of $26.58 and a 52-week high of $42.04. The company has a debt-to-equity ratio of 1.42, a current ratio of 0.81 and a quick ratio of 0.72.

Aramark (NYSE:ARMK) last announced its 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 during the quarter, compared to analysts’ expectations of $4.46 billion. Aramark had a net margin of 1.51% and a return on equity of 14.06%. The firm’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 anticipate that Aramark will post 1.92 EPS for the current fiscal year.

Aramark Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Investors 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 yield of 0.01%. Aramark’s dividend payout ratio (DPR) is presently 38.38%.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the company. Morgan Stanley raised their target price on Aramark from $38.00 to $40.00 and gave the company an “equal weight” rating in a report on Tuesday, November 12th. Robert W. Baird raised their price target on shares of Aramark from $38.00 to $44.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 12th. Stifel Nicolaus upped their price objective on shares of Aramark from $43.00 to $45.00 and gave the company a “buy” rating in a research report on Tuesday, November 12th. Deutsche Bank Aktiengesellschaft raised Aramark from a “hold” rating to a “buy” rating and lifted their target price for the stock from $36.00 to $39.00 in a research report on Wednesday, August 7th. Finally, JPMorgan Chase & Co. upped their price target on Aramark from $41.00 to $45.00 and gave the company an “overweight” rating in a report on Tuesday, November 12th. Three equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $42.23.

About Aramark

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.