Aramark (NYSE:ARMK) Shares Sold by Swiss National Bank

Swiss National Bank trimmed its stake in shares of Aramark (NYSE:ARMK) by 0.6% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 487,600 shares of the company’s stock after selling 2,900 shares during the period. Swiss National Bank owned 0.19% of Aramark worth $18,885,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the stock. Huntington National Bank lifted its position in shares of Aramark by 100.3% in the third quarter. Huntington National Bank now owns 681 shares of the company’s stock valued at $26,000 after acquiring an additional 341 shares in the last quarter. Capital Performance Advisors LLP purchased a new stake in shares of Aramark during the third quarter worth $28,000. UMB Bank n.a. lifted its stake in shares of Aramark by 360.1% in the third quarter. UMB Bank n.a. now owns 773 shares of the company’s stock worth $30,000 after buying an additional 605 shares in the last quarter. Friedenthal Financial acquired a new position in Aramark during the third quarter worth about $52,000. Finally, GAMMA Investing LLC grew 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 in the last quarter.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on ARMK. Bank of America raised their target price on shares of Aramark from $36.00 to $39.00 and gave the stock a “buy” rating in a research note on Wednesday, August 7th. Truist Financial boosted their price objective on Aramark from $42.00 to $46.00 and gave the stock a “buy” rating in a research note on Tuesday, November 12th. JPMorgan Chase & Co. raised their target price on Aramark from $41.00 to $45.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 12th. StockNews.com raised shares of Aramark from a “sell” rating to a “hold” rating in a research report on Tuesday, October 29th. Finally, UBS Group raised their price objective on shares of Aramark from $40.00 to $44.00 and gave the stock a “buy” rating in a research report on Tuesday, October 8th. Three investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat, Aramark presently has a consensus rating of “Moderate Buy” and an average target price of $42.23.

Aramark Trading Up 3.7 %

Shares of ARMK stock opened at $40.41 on Friday. The firm has a market cap of $10.65 billion, a PE ratio of 40.82 and a beta of 1.62. 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 has a 1-year low of $26.58 and a 1-year high of $42.04. The company has a 50-day moving average of $38.29 and a two-hundred day moving average of $35.40.

Aramark (NYSE:ARMK) last issued its quarterly earnings data on Monday, November 11th. The company reported $0.54 earnings per share 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 business had revenue of $4.42 billion during the quarter, compared to analysts’ expectations of $4.46 billion. During the same period in the previous year, the firm posted $0.64 earnings per share. The company’s revenue was up 5.2% on a year-over-year basis. On average, analysts predict that Aramark will post 1.92 EPS for the current year.

Aramark Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Monday, December 2nd will be paid a $0.001 dividend. This represents a $0.00 annualized dividend and a dividend yield of 0.01%. The ex-dividend date is Monday, December 2nd. Aramark’s payout ratio is 42.42%.

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.