Aramark (NYSE:ARMK) is Sasco Capital Inc. CT's 4th Largest Position

Sasco Capital Inc. CT decreased its holdings in Aramark (NYSE:ARMK - Free Report) by 22.2% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 664,970 shares of the company's stock after selling 189,720 shares during the quarter. Aramark accounts for about 3.9% of Sasco Capital Inc. CT's investment portfolio, making the stock its 4th largest position. Sasco Capital Inc. CT owned approximately 0.25% of Aramark worth $25,754,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of the business. Quest Partners LLC lifted its position in shares of Aramark by 3,617,700.0% during the 3rd quarter. Quest Partners LLC now owns 36,178 shares of the company's stock valued at $1,401,000 after buying an additional 36,177 shares in the last quarter. Thrivent Financial for Lutherans lifted its holdings in Aramark by 76.7% during the third quarter. Thrivent Financial for Lutherans now owns 113,094 shares of the company's stock valued at $4,380,000 after purchasing an additional 49,093 shares in the last quarter. CIBC Asset Management Inc boosted its position in shares of Aramark by 3.6% in the third quarter. CIBC Asset Management Inc now owns 7,621 shares of the company's stock worth $295,000 after purchasing an additional 265 shares during the period. Huntington National Bank increased its stake in shares of Aramark by 100.3% in the third quarter. Huntington National Bank now owns 681 shares of the company's stock worth $26,000 after purchasing an additional 341 shares in the last quarter. Finally, KBC Group NV raised its position in shares of Aramark by 18.3% during the 3rd quarter. KBC Group NV now owns 6,878 shares of the company's stock valued at $266,000 after purchasing an additional 1,064 shares during the period.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on ARMK. Robert W. Baird upped their target price on shares of Aramark from $38.00 to $44.00 and gave the stock a "neutral" rating in a report on Tuesday, November 12th. Deutsche Bank Aktiengesellschaft upgraded Aramark from a "hold" rating to a "buy" rating and increased their target price for the stock from $36.00 to $39.00 in a research report on Wednesday, August 7th. Truist Financial boosted their price target on Aramark from $42.00 to $46.00 and gave the stock a "buy" rating in a report on Tuesday, November 12th. StockNews.com raised shares of Aramark from a "sell" rating to a "hold" rating in a report on Tuesday, October 29th. Finally, Royal Bank of Canada raised shares of 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. Three research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $42.23.

Aramark Price Performance

Shares of Aramark stock traded up $0.45 during trading hours on Tuesday, reaching $37.70. The company's stock had a trading volume of 1,745,778 shares, compared to its average volume of 2,224,714. The company has a debt-to-equity ratio of 1.42, a current ratio of 0.81 and a quick ratio of 0.72. Aramark has a one year low of $26.58 and a one year high of $42.04. The firm has a 50 day moving average price of $38.27 and a 200-day moving average price of $35.33. The stock has a market cap of $9.93 billion, a P/E ratio of 38.09 and a beta of 1.62.

Aramark (NYSE:ARMK - Get Free Report) last issued its quarterly earnings data on Monday, November 11th. The company reported $0.54 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.54. The business had revenue of $4.42 billion for the quarter, compared to the consensus estimate of $4.46 billion. Aramark had a return on equity of 14.06% and a net margin of 1.51%. The company's quarterly revenue was up 5.2% compared to the same quarter last year. During the same period in the prior year, the business posted $0.64 earnings per share. On average, analysts predict that Aramark will post 1.92 EPS for the current year.

Aramark Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Monday, December 2nd will be paid a dividend of $0.001 per share. This represents a $0.00 annualized dividend and a yield of 0.01%. The ex-dividend date is Monday, December 2nd. Aramark's payout ratio is 38.38%.

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.