Aramark (NYSE:ARMK) Holdings Boosted by Raymond James Trust N.A.

Raymond James Trust N.A. boosted its holdings in shares of Aramark (NYSE:ARMK) by 83.2% in the third quarter, HoldingsChannel reports. The fund owned 13,770 shares of the company’s stock after buying an additional 6,255 shares during the quarter. Raymond James Trust N.A.’s holdings in Aramark were worth $533,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in ARMK. Huntington National Bank increased its position in Aramark by 100.3% in the 3rd quarter. Huntington National Bank now owns 681 shares of the company’s stock worth $26,000 after purchasing an additional 341 shares during the last quarter. Capital Performance Advisors LLP bought a new position in Aramark during the third quarter valued at about $28,000. UMB Bank n.a. lifted its position 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 during the last quarter. Friedenthal Financial acquired a new position in shares of Aramark during the 3rd quarter valued at about $52,000. Finally, GAMMA Investing LLC raised its stake in shares of Aramark by 319.3% in 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.

Aramark Price Performance

Shares of Aramark stock opened at $41.83 on Tuesday. The firm has a market cap of $11.04 billion, a P/E ratio of 42.25 and a beta of 1.62. The firm’s 50-day simple moving average is $38.39 and its 200-day simple moving average is $35.56. Aramark has a twelve month low of $26.58 and a twelve month high of $42.04. The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.72 and a current ratio of 0.81.

Aramark (NYSE:ARMK) last released 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 company had revenue of $4.42 billion for the quarter, compared to the consensus estimate of $4.46 billion. During the same period in the previous year, the business earned $0.64 earnings per share. The company’s quarterly revenue was up 5.2% on a year-over-year basis. As a group, research 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. Shareholders of record on Monday, December 2nd will be issued a dividend of $0.001 per share. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $0.00 dividend on an annualized basis and a dividend yield of 0.01%. Aramark’s payout ratio is presently 42.42%.

Analyst Upgrades and Downgrades

ARMK has been the topic of a number of recent analyst reports. Truist Financial lifted their price target on shares of Aramark from $42.00 to $46.00 and gave the company a “buy” rating in a research report on Tuesday, November 12th. StockNews.com raised Aramark from a “sell” rating to a “hold” rating in a research report on Tuesday, October 29th. JPMorgan Chase & Co. raised their target price on Aramark from $41.00 to $45.00 and gave the company an “overweight” rating in a report on Tuesday, November 12th. Stifel Nicolaus upped their price target on Aramark from $43.00 to $45.00 and gave the stock a “buy” rating in a report on Tuesday, November 12th. Finally, Morgan Stanley raised their price objective on shares of Aramark from $38.00 to $40.00 and gave the stock an “equal weight” rating in a research note on Tuesday, November 12th. Three research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average 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.