Thrivent Financial for Lutherans Boosts Stock Position in Aramark (NYSE:ARMK)

Thrivent Financial for Lutherans increased its holdings in shares of Aramark (NYSE:ARMK) by 76.7% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 113,094 shares of the company’s stock after buying an additional 49,093 shares during the period. Thrivent Financial for Lutherans’ holdings in Aramark were worth $4,380,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently added to or reduced their stakes in ARMK. Blue Trust Inc. raised its position in shares of Aramark by 173.9% in the third quarter. Blue Trust Inc. now owns 5,697 shares of the company’s stock valued at $221,000 after buying an additional 3,617 shares during the last quarter. Leeward Investments LLC MA acquired a new position in Aramark in the second quarter valued at approximately $9,263,000. Asset Management One Co. Ltd. grew its position in Aramark by 63.6% in the third quarter. Asset Management One Co. Ltd. now owns 140,432 shares of the company’s stock worth $5,439,000 after acquiring an additional 54,580 shares during the period. Comerica Bank increased its stake in Aramark by 14.9% during the first quarter. Comerica Bank now owns 126,658 shares of the company’s stock worth $4,119,000 after acquiring an additional 16,423 shares during the last quarter. Finally, Bayesian Capital Management LP purchased a new stake in Aramark in the first quarter valued at $592,000.

Aramark Price Performance

Aramark stock opened at $40.86 on Monday. The company has a current ratio of 0.81, a quick ratio of 0.72 and a debt-to-equity ratio of 1.42. The company has a fifty day simple moving average of $38.39 and a 200-day simple moving average of $35.53. The stock has a market cap of $10.78 billion, a P/E ratio of 41.27 and a beta of 1.62. Aramark has a 12-month low of $26.58 and a 12-month high of $42.04.

Aramark (NYSE:ARMK) last announced its quarterly 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. Aramark had a return on equity of 14.06% and a net margin of 1.51%. The company had revenue of $4.42 billion during the quarter, compared to the consensus estimate of $4.46 billion. During the same period in the previous year, the business earned $0.64 EPS. Aramark’s revenue for the quarter was up 5.2% on a year-over-year basis. Equities analysts expect that Aramark will post 1.92 EPS for the current fiscal 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 of this dividend is Monday, December 2nd. This represents a $0.00 annualized dividend and a dividend yield of 0.01%. Aramark’s dividend payout ratio is presently 38.38%.

Wall Street Analyst Weigh In

ARMK has been the subject of a number of recent analyst reports. The Goldman Sachs Group raised their price objective on Aramark from $38.00 to $41.00 and gave the stock a “buy” rating in a research report on Wednesday, October 16th. Truist Financial raised their price target on Aramark from $42.00 to $46.00 and gave the stock a “buy” rating in a research report on Tuesday, November 12th. JPMorgan Chase & Co. boosted their price objective on Aramark from $41.00 to $45.00 and gave the company an “overweight” rating in a report on Tuesday, November 12th. StockNews.com raised shares of Aramark from a “sell” rating to a “hold” rating in a research note on Tuesday, October 29th. Finally, Robert W. Baird lifted their price objective on shares of Aramark from $38.00 to $44.00 and gave the company a “neutral” 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. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average 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.