Aramark (NYSE:ARMK) Shares Sold by Covestor Ltd

Covestor Ltd reduced its stake in shares of Aramark (NYSE:ARMK) by 38.2% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm 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.

A number of other large investors have also recently made changes to their positions in the stock. Capital Performance Advisors LLP purchased a new stake in Aramark during the 3rd quarter valued at about $28,000. UMB Bank n.a. boosted its position in Aramark by 360.1% in the third quarter. UMB Bank n.a. now owns 773 shares of the company’s stock valued at $30,000 after buying an additional 605 shares during the last quarter. Twin Tree Management LP increased its holdings in Aramark by 32.0% in the 1st quarter. Twin Tree Management LP now owns 1,424 shares of the company’s stock worth $46,000 after buying an additional 345 shares during the period. Friedenthal Financial purchased a new position in Aramark during the 3rd quarter worth approximately $52,000. Finally, GAMMA Investing LLC lifted its stake 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 Upgrades and Downgrades

A number of analysts have recently weighed in on ARMK shares. Robert W. Baird increased their price objective on shares of Aramark from $38.00 to $44.00 and gave the stock a “neutral” rating in a research note on Tuesday. Truist Financial lifted their price objective on Aramark from $42.00 to $46.00 and gave the company a “buy” rating in a research note on Tuesday. The Goldman Sachs Group upped 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. StockNews.com raised Aramark from a “sell” rating to a “hold” rating in a report on Tuesday, October 29th. Finally, Stifel Nicolaus raised their price objective on shares of Aramark from $43.00 to $45.00 and gave the stock a “buy” rating in a research note on Tuesday. Three investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $42.23.

Aramark Stock Down 1.0 %

Shares of NYSE ARMK opened at $38.69 on Friday. Aramark has a 52-week low of $26.27 and a 52-week high of $42.04. The company has a quick ratio of 0.86, a current ratio of 0.81 and a debt-to-equity ratio of 1.42. The company’s 50-day simple moving average is $38.24 and its 200-day simple moving average is $35.17. The firm has a market cap of $10.19 billion, a price-to-earnings ratio of 39.06 and a beta of 1.62.

Aramark (NYSE:ARMK) last posted its quarterly earnings data on Monday, November 11th. The company reported $0.54 EPS for the quarter, hitting the consensus estimate of $0.54. The company had revenue of $4.42 billion during the quarter, compared to analyst estimates of $4.46 billion. Aramark had a return on equity of 14.06% and a net margin of 1.51%. Aramark’s quarterly revenue was up 5.2% on a year-over-year basis. During the same period in the previous year, the business earned $0.64 EPS. Equities analysts predict that Aramark will post 1.92 EPS 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 $0.001 dividend. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $0.00 dividend on an annualized basis and a yield of 0.01%. Aramark’s payout ratio is currently 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.