Geode Capital Management LLC Grows Stock Position in Aramark (NYSE:ARMK)

Geode Capital Management LLC boosted its position in shares of Aramark (NYSE:ARMK - Free Report) by 1.1% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 4,363,113 shares of the company's stock after buying an additional 45,384 shares during the quarter. Geode Capital Management LLC owned approximately 1.66% of Aramark worth $169,028,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in ARMK. Wealth Enhancement Advisory Services LLC raised its stake in shares of Aramark by 25.6% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 9,239 shares of the company's stock valued at $314,000 after acquiring an additional 1,883 shares during the last quarter. Blue Trust Inc. raised its position in Aramark by 225.5% during 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 during the last quarter. Fifth Third Wealth Advisors LLC purchased a new stake in Aramark in the 2nd quarter worth approximately $280,000. Allspring Global Investments Holdings LLC grew its position in shares of Aramark by 84.3% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 7,228 shares of the company's stock worth $246,000 after buying an additional 3,307 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Aramark by 7.7% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 54,715 shares of the company's stock valued at $1,861,000 after buying an additional 3,908 shares during the period.

Aramark Stock Down 1.3 %

Aramark stock traded down $0.53 during trading hours on Monday, hitting $39.64. The stock had a trading volume of 1,732,030 shares, compared to its average volume of 2,209,987. The stock's 50-day moving average price is $39.22 and its 200-day moving average price is $36.43. Aramark has a 12-month low of $27.05 and a 12-month high of $42.49. 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 stock has a market capitalization of $10.46 billion, a P/E ratio of 40.04 and a beta of 1.63.

Aramark (NYSE:ARMK - Get Free Report) last issued its earnings results on Monday, November 11th. The company reported $0.54 EPS for the quarter, meeting the consensus estimate 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 revenue was up 5.2% compared to the same quarter last year. During the same period last year, the business posted $0.64 EPS. Equities research analysts anticipate that Aramark will post 1.92 EPS for the current fiscal year.

Aramark Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, December 12th. Stockholders of record on Monday, December 2nd were issued a dividend of $0.001 per share. The ex-dividend date of this dividend was Monday, December 2nd. This represents a $0.00 annualized dividend and a dividend yield of 0.01%. Aramark's payout ratio is 42.42%.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on ARMK. StockNews.com upgraded shares of Aramark from a "sell" rating to a "hold" rating in a report on Tuesday, October 29th. The Goldman Sachs Group lifted their target price on shares of Aramark from $38.00 to $41.00 and gave the company a "buy" rating in a research note on Wednesday, October 16th. JPMorgan Chase & Co. increased their price target on shares of Aramark from $41.00 to $45.00 and gave the stock an "overweight" rating in a research note on Tuesday, November 12th. Morgan Stanley lifted their price objective on Aramark from $40.00 to $43.00 and gave the company an "equal weight" rating in a research report on Thursday. Finally, Stifel Nicolaus raised their target price on Aramark from $43.00 to $45.00 and gave the company 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's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target 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.