Aramark (NYSE:ARMK) Shares Sold by Tidal Investments LLC

Tidal Investments LLC cut its stake in Aramark (NYSE:ARMK) by 11.9% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 26,666 shares of the company’s stock after selling 3,614 shares during the period. Tidal Investments LLC’s holdings in Aramark were worth $1,033,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in ARMK. Wilmington Savings Fund Society FSB purchased a new position in Aramark in the third quarter valued at $761,000. Sanctuary Advisors LLC acquired a new position in shares of Aramark during the 3rd quarter worth about $309,000. Geode Capital Management LLC increased its holdings in shares of Aramark by 1.1% in the 3rd quarter. Geode Capital Management LLC now owns 4,363,113 shares of the company’s stock valued at $169,028,000 after acquiring an additional 45,384 shares during the last quarter. M&T Bank Corp raised its position in shares of Aramark by 5.5% during the 3rd quarter. M&T Bank Corp now owns 16,206 shares of the company’s stock worth $628,000 after acquiring an additional 838 shares in the last quarter. Finally, Barclays PLC lifted its stake in Aramark by 57.6% during the third quarter. Barclays PLC now owns 189,418 shares of the company’s stock worth $7,336,000 after purchasing an additional 69,223 shares during the last quarter.

Aramark Stock Up 0.2 %

Shares of NYSE:ARMK opened at $37.41 on Friday. The company has a quick ratio of 0.72, a current ratio of 0.81 and a debt-to-equity ratio of 1.42. The company has a market cap of $9.91 billion, a price-to-earnings ratio of 37.79 and a beta of 1.63. Aramark has a fifty-two week low of $27.39 and a fifty-two week high of $42.49. The firm’s 50-day simple moving average is $39.28 and its 200-day simple moving average is $36.54.

Aramark (NYSE:ARMK) last issued its earnings results on Monday, November 11th. The company reported $0.54 EPS for the quarter, hitting the consensus estimate of $0.54. The company had revenue of $4.42 billion for the quarter, compared to analyst estimates of $4.46 billion. Aramark had a net margin of 1.51% and a return on equity of 14.06%. The business’s revenue was up 5.2% on a year-over-year basis. During the same period in the previous year, the firm earned $0.64 EPS. As a group, equities research analysts predict that Aramark will post 1.92 earnings per share for the current year.

Aramark Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, December 12th. Stockholders of record on Monday, December 2nd were given a $0.001 dividend. This represents a $0.00 dividend on an annualized basis and a dividend yield of 0.01%. The ex-dividend date was Monday, December 2nd. Aramark’s dividend payout ratio is currently 42.42%.

Wall Street Analyst Weigh In

A number of analysts have weighed in on ARMK shares. Royal Bank of Canada raised shares of Aramark from a “sector perform” rating to an “outperform” rating and raised their price objective for the stock from $36.00 to $42.50 in a report on Tuesday, September 17th. Truist Financial boosted 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. Morgan Stanley raised their price objective on Aramark from $40.00 to $43.00 and gave the stock an “equal weight” rating in a report on Thursday, December 12th. JPMorgan Chase & Co. boosted 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. Finally, Stifel Nicolaus raised their price target on Aramark from $43.00 to $45.00 and gave the stock a “buy” rating in a research note on Tuesday, November 12th. Three research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $42.59.

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.