Aramark (NYSE:ARMK) Shares Acquired by Geode Capital Management LLC

Geode Capital Management LLC increased its stake in shares of Aramark (NYSE:ARMK) by 1.1% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 4,363,113 shares of the company’s stock after purchasing an additional 45,384 shares during the period. Geode Capital Management LLC owned 1.66% of Aramark worth $169,028,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Huntington National Bank raised its holdings in shares of Aramark by 100.3% during the third quarter. Huntington National Bank now owns 681 shares of the company’s stock valued at $26,000 after acquiring an additional 341 shares during the last quarter. Capital Performance Advisors LLP acquired a new stake in shares of Aramark in the third quarter worth approximately $28,000. UMB Bank n.a. increased its position in shares of Aramark by 360.1% during the third quarter. UMB Bank n.a. now owns 773 shares of the company’s stock worth $30,000 after purchasing an additional 605 shares in the last quarter. Friedenthal Financial acquired a new position in Aramark in the 3rd quarter valued at $52,000. Finally, Blue Trust Inc. lifted its holdings in Aramark by 225.5% in the 2nd quarter. Blue Trust Inc. now owns 2,080 shares of the company’s stock valued at $68,000 after purchasing an additional 1,441 shares in the last quarter.

Wall Street Analyst Weigh In

ARMK has been the subject of a number of research reports. JPMorgan Chase & Co. upped their target price on shares of Aramark from $41.00 to $45.00 and gave the stock an “overweight” rating in a report on Tuesday, November 12th. Truist Financial upped their price objective on shares of Aramark from $42.00 to $46.00 and gave the company a “buy” rating in a research note on Tuesday, November 12th. Robert W. Baird raised their target price on shares of Aramark from $44.00 to $45.00 and gave the stock a “neutral” rating in a research note on Thursday. Royal Bank of Canada upgraded Aramark from a “sector perform” rating to an “outperform” rating and boosted their target price for the stock from $36.00 to $42.50 in a report on Tuesday, September 17th. Finally, UBS Group increased their price target on Aramark from $40.00 to $44.00 and gave the company a “buy” rating in a report on Tuesday, October 8th. Three analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Aramark presently has an average rating of “Moderate Buy” and a consensus price target of $42.59.

Aramark Stock Down 0.6 %

ARMK stock opened at $40.17 on Monday. Aramark has a one year low of $27.05 and a one year high of $42.49. The firm has a market cap of $10.60 billion, a PE ratio of 40.58 and a beta of 1.63. The firm’s 50 day moving average price is $39.22 and its 200-day moving average price is $36.43. 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 posted 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 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 quarter in the previous year, the business earned $0.64 earnings per share. The company’s revenue for the quarter was up 5.2% on a year-over-year basis. On average, equities research analysts anticipate that Aramark will post 1.92 EPS for the current year.

Aramark Cuts Dividend

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

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.