Anthracite Investment Company Inc. Acquires New Holdings in Aramark (NYSE:ARMK)

Anthracite Investment Company Inc. acquired a new stake in shares of Aramark (NYSE:ARMK - Free Report) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 91,000 shares of the company's stock, valued at approximately $3,524,000. Aramark comprises approximately 1.6% of Anthracite Investment Company Inc.'s portfolio, making the stock its 20th biggest holding.

Several other large investors have also modified their holdings of the stock. Millennium Management LLC grew its holdings in shares of Aramark by 822.3% during 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 during the period. Farallon Capital Management LLC increased its position in shares of Aramark by 5.5% in the first quarter. Farallon Capital Management LLC now owns 17,822,937 shares of the company's stock worth $579,602,000 after acquiring an additional 923,683 shares in the last quarter. Dimensional Fund Advisors LP raised its stake 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 valued at $160,977,000 after acquiring an additional 720,738 shares during the period. Janus Henderson Group PLC boosted its position in Aramark by 5.4% during the 1st quarter. Janus Henderson Group PLC now owns 13,391,832 shares of the company's stock worth $435,501,000 after purchasing an additional 681,735 shares during the period. Finally, Kingdon Capital Management L.L.C. acquired a new stake in Aramark in the 1st quarter valued at $13,008,000.

Aramark Price Performance

Shares of ARMK traded up $1.27 during mid-day trading on Wednesday, hitting $38.96. The company's stock had a trading volume of 2,225,551 shares, compared to its average volume of 2,224,717. The company has a debt-to-equity ratio of 1.42, a current ratio of 0.81 and a quick ratio of 0.72. The firm has a 50-day moving average price of $38.27 and a 200 day moving average price of $35.38. Aramark has a fifty-two week low of $26.58 and a fifty-two week high of $42.04. The stock has a market capitalization of $10.26 billion, a price-to-earnings ratio of 39.34 and a beta of 1.62.

Aramark (NYSE:ARMK - Get Free Report) last released its quarterly earnings data on Monday, November 11th. The company reported $0.54 earnings per share for the quarter, hitting the consensus estimate of $0.54. The business had revenue of $4.42 billion during the quarter, compared to analyst estimates of $4.46 billion. Aramark had a return on equity of 14.06% and a net margin of 1.51%. The company's revenue was up 5.2% compared to the same quarter last year. During the same period last year, the company posted $0.64 EPS. On average, research analysts predict 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 annualized dividend and a yield of 0.01%. Aramark's payout ratio is presently 38.38%.

Analyst Ratings Changes

A number of research firms have recently issued reports on ARMK. UBS Group increased their target price on Aramark from $40.00 to $44.00 and gave the company a "buy" rating in a research note on Tuesday, October 8th. Robert W. Baird raised their target price on Aramark from $38.00 to $44.00 and gave the company a "neutral" rating in a research note on Tuesday, November 12th. Truist Financial lifted their price objective on Aramark from $42.00 to $46.00 and gave the stock a "buy" rating in a report on Tuesday, November 12th. Bank of America increased their price objective on shares of Aramark from $36.00 to $39.00 and gave the company a "buy" rating in a research note on Wednesday, August 7th. Finally, StockNews.com raised Aramark from a "sell" rating to a "hold" rating in a report on Tuesday, October 29th. Three equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $42.23.

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.