Corsair Capital Management L.P. lessened its holdings in shares of Aramark (NYSE:ARMK) by 6.7% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 205,492 shares of the company’s stock after selling 14,776 shares during the quarter. Aramark makes up about 2.0% of Corsair Capital Management L.P.’s portfolio, making the stock its 23rd biggest holding. Corsair Capital Management L.P.’s holdings in Aramark were worth $8,840,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also made changes to their positions in the company. Waratah Capital Advisors Ltd. acquired a new stake in Aramark during the 3rd quarter worth $3,599,000. Quantum Capital Management acquired a new stake in Aramark during the 2nd quarter worth $841,000. Jane Street Group LLC boosted its stake in Aramark by 27.1% during the 2nd quarter. Jane Street Group LLC now owns 21,018 shares of the company’s stock worth $780,000 after purchasing an additional 4,485 shares during the last quarter. BP PLC acquired a new stake in Aramark during the 3rd quarter worth $1,161,000. Finally, Private Advisor Group LLC boosted its stake in Aramark by 951.0% during the 2nd quarter. Private Advisor Group LLC now owns 99,580 shares of the company’s stock worth $3,695,000 after purchasing an additional 90,105 shares during the last quarter. 99.63% of the stock is currently owned by institutional investors.
Shares of ARMK stock opened at $37.65 on Friday. The company has a debt-to-equity ratio of 2.38, a quick ratio of 0.87 and a current ratio of 1.17. The stock has a market cap of $9.25 billion, a PE ratio of 18.75, a PEG ratio of 1.35 and a beta of 0.89. Aramark has a twelve month low of $33.98 and a twelve month high of $46.09.
The company also recently declared a quarterly dividend, which was paid on Thursday, December 6th. Stockholders of record on Monday, November 26th were given a dividend of $0.11 per share. This is a boost from Aramark’s previous quarterly dividend of $0.11. The ex-dividend date was Friday, November 23rd. This represents a $0.44 annualized dividend and a dividend yield of 1.17%. Aramark’s payout ratio is presently 22.11%.
Several brokerages have issued reports on ARMK. Zacks Investment Research cut shares of Aramark from a “hold” rating to a “sell” rating in a research note on Thursday, November 29th. ValuEngine raised shares of Aramark from a “sell” rating to a “hold” rating in a research note on Wednesday, November 21st. Nomura lowered their target price on shares of Aramark from $50.00 to $47.00 and set a “buy” rating on the stock in a research note on Thursday, November 15th. Royal Bank of Canada began coverage on shares of Aramark in a research note on Monday, November 19th. They set an “outperform” rating and a $47.00 target price on the stock. Finally, JPMorgan Chase & Co. lowered their target price on shares of Aramark from $53.00 to $48.00 and set an “overweight” rating on the stock in a research note on Wednesday, November 14th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and eight have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $47.30.
Aramark provides food, facilities, and uniform services to education, healthcare, business and industry, sports, leisure, and corrections clients in North America and internationally. The company operates through three segments: Food and Support Services North America, Food and Support Services International, Uniform and Career Apparel.
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