Citigroup Inc. Purchases 19,606 Shares of Aramark (NYSE:ARMK)

Citigroup Inc. lifted its holdings in Aramark (NYSE:ARMK) by 21.2% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 111,918 shares of the company’s stock after buying an additional 19,606 shares during the quarter. Citigroup Inc.’s holdings in Aramark were worth $4,335,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Massachusetts Financial Services Co. MA boosted its position in Aramark by 70.0% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 8,329,917 shares of the company’s stock valued at $322,618,000 after acquiring an additional 3,430,131 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Aramark by 18.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 4,731,963 shares of the company’s stock worth $160,977,000 after purchasing an additional 720,738 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of Aramark by 0.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,732,661 shares of the company’s stock worth $67,106,000 after purchasing an additional 14,839 shares in the last quarter. Millennium Management LLC boosted its position in shares of Aramark by 822.3% in the 2nd quarter. Millennium Management LLC now owns 1,677,629 shares of the company’s stock worth $57,073,000 after purchasing an additional 1,495,737 shares in the last quarter. Finally, Public Employees Retirement Association of Colorado raised its stake in Aramark by 13.8% in the 2nd quarter. Public Employees Retirement Association of Colorado now owns 922,212 shares of the company’s stock worth $31,374,000 after acquiring an additional 112,038 shares during the last quarter.

Aramark Stock Down 0.3 %

Shares of NYSE ARMK opened at $40.19 on Wednesday. Aramark has a 1 year low of $26.58 and a 1 year high of $42.49. The firm’s 50 day moving average price is $38.81 and its 200 day moving average price is $35.94. The firm has a market cap of $10.61 billion, a P/E ratio of 40.60 and a beta of 1.63. 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 issued its earnings results on Monday, November 11th. The company reported $0.54 EPS for the quarter, meeting analysts’ consensus estimates of $0.54. Aramark had a net margin of 1.51% and a return on equity of 14.06%. The business had revenue of $4.42 billion for the quarter, compared to the consensus estimate of $4.46 billion. During the same quarter last year, the firm posted $0.64 EPS. The business’s revenue for the quarter was up 5.2% compared to the same quarter last year. As a group, sell-side analysts anticipate that Aramark will post 1.92 earnings per share for the current year.

Aramark Cuts Dividend

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

Wall Street Analyst Weigh In

ARMK has been the subject of a number of recent research reports. The Goldman Sachs Group lifted their price objective on Aramark from $38.00 to $41.00 and gave the company a “buy” rating in a research note on Wednesday, October 16th. UBS Group upped their price objective on Aramark from $40.00 to $44.00 and gave the stock a “buy” rating in a research report on Tuesday, October 8th. Truist Financial boosted their target price on shares of Aramark from $42.00 to $46.00 and gave the stock a “buy” rating in a research note on Tuesday, November 12th. StockNews.com upgraded shares of Aramark from a “sell” rating to a “hold” rating in a research note on Tuesday, October 29th. Finally, Morgan Stanley increased their target price 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 investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, Aramark has a consensus rating of “Moderate Buy” and an average 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.