BNP Paribas Financial Markets grew its stake in shares of Aramark (NYSE:ARMK - Free Report) by 26.8% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 366,615 shares of the company's stock after acquiring an additional 77,567 shares during the quarter. BNP Paribas Financial Markets owned about 0.14% of Aramark worth $14,199,000 as of its most recent SEC filing.
A number of other hedge funds have also bought and sold shares of ARMK. Blue Trust Inc. lifted its holdings in Aramark by 173.9% in the third quarter. Blue Trust Inc. now owns 5,697 shares of the company's stock valued at $221,000 after acquiring an additional 3,617 shares during the period. Anthracite Investment Company Inc. purchased a new stake in Aramark in the 3rd quarter worth $3,524,000. Leeward Investments LLC MA acquired a new position in Aramark during the second quarter worth $9,263,000. Charles Schwab Investment Management Inc. boosted its holdings in Aramark by 0.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,732,661 shares of the company's stock worth $67,106,000 after buying an additional 14,839 shares during the last quarter. Finally, Quest Partners LLC increased its position in shares of Aramark by 3,617,700.0% during the third quarter. Quest Partners LLC now owns 36,178 shares of the company's stock worth $1,401,000 after purchasing an additional 36,177 shares in the last quarter.
Analysts Set New Price Targets
A number of analysts have commented on the stock. Truist Financial increased their price objective on shares of Aramark from $42.00 to $46.00 and gave the company a "buy" rating in a report on Tuesday, November 12th. Bank of America increased their target price on Aramark from $36.00 to $39.00 and gave the stock a "buy" rating in a research note on Wednesday, August 7th. StockNews.com upgraded Aramark from a "sell" rating to a "hold" rating in a research note on Tuesday, October 29th. The Goldman Sachs Group boosted their target price on Aramark from $38.00 to $41.00 and gave the stock a "buy" rating in a research note on Wednesday, October 16th. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of Aramark from a "hold" rating to a "buy" rating and upped their price objective for the company from $36.00 to $39.00 in a research note on Wednesday, August 7th. Three 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, the stock has an average rating of "Moderate Buy" and an average target price of $42.23.
Check Out Our Latest Stock Analysis on Aramark
Aramark Stock Down 0.9 %
NYSE:ARMK traded down $0.37 during mid-day trading on Monday, reaching $40.32. The stock had a trading volume of 1,673,586 shares, compared to its average volume of 2,221,271. The stock's 50 day simple moving average is $38.68 and its two-hundred day simple moving average is $35.84. Aramark has a 1-year low of $26.58 and a 1-year high of $42.49. The company has a market capitalization of $10.64 billion, a price-to-earnings ratio of 41.10 and a beta of 1.62. 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 (NYSE:ARMK - Get Free Report) last posted its earnings results on Monday, November 11th. The company reported $0.54 EPS for the quarter, meeting the consensus estimate 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 during the quarter, compared to analyst estimates of $4.46 billion. During the same period in the prior year, the company earned $0.64 earnings per share. The business's revenue was up 5.2% compared to the same quarter last year. Equities analysts anticipate that Aramark will post 1.92 EPS for the current year.
Aramark Cuts Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Monday, December 2nd will be paid a dividend of $0.001 per share. The ex-dividend date is Monday, December 2nd. This represents a $0.00 dividend on an annualized basis and a dividend yield of 0.01%. Aramark's dividend payout ratio is presently 38.38%.
About Aramark
(
Free Report)
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.
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