Fmr LLC Sells 217,460 Shares of Aramark (NYSE:ARMK)

FMR LLC cut its stake in Aramark (NYSE:ARMK - Free Report) by 3.2% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 6,651,896 shares of the company's stock after selling 217,460 shares during the period. FMR LLC owned about 2.52% of Aramark worth $257,628,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in ARMK. Huntington National Bank boosted its stake in shares of Aramark by 100.3% in the 3rd quarter. Huntington National Bank now owns 681 shares of the company's stock valued at $26,000 after purchasing an additional 341 shares in the last quarter. Capital Performance Advisors LLP purchased a new stake in Aramark in the 3rd quarter worth approximately $28,000. UMB Bank n.a. grew its position in shares of Aramark by 360.1% in the 3rd quarter. UMB Bank n.a. now owns 773 shares of the company's stock worth $30,000 after buying an additional 605 shares during the last quarter. Friedenthal Financial purchased a new position in shares of Aramark during the third quarter valued at approximately $52,000. Finally, GAMMA Investing LLC lifted its stake in Aramark by 319.3% in the second quarter. GAMMA Investing LLC now owns 1,677 shares of the company's stock worth $57,000 after acquiring an additional 1,277 shares during the period.

Aramark Stock Down 0.6 %

NYSE:ARMK traded down $0.26 on Monday, reaching $40.33. 652,362 shares of the stock traded hands, compared to its average volume of 2,216,688. Aramark has a 12 month low of $26.58 and a 12 month high of $42.49. The company has a market capitalization of $10.65 billion, a price-to-earnings ratio of 41.10 and a beta of 1.62. The company's fifty day simple moving average is $38.68 and its 200 day simple moving average is $35.84. The company has a current ratio of 0.81, a quick ratio of 0.72 and a debt-to-equity ratio of 1.42.

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

Aramark Cuts Dividend

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

Analysts Set New Price Targets

A number of research analysts have issued reports on the stock. Robert W. Baird boosted their price objective on shares of Aramark from $38.00 to $44.00 and gave the company a "neutral" rating in a research report on Tuesday, November 12th. UBS Group increased their price target on shares of Aramark from $40.00 to $44.00 and gave the stock a "buy" rating in a research note on Tuesday, October 8th. Bank of America upped their target price on Aramark from $36.00 to $39.00 and gave the stock a "buy" rating in a report on Wednesday, August 7th. Royal Bank of Canada upgraded Aramark from a "sector perform" rating to an "outperform" rating and raised their target price for the company from $36.00 to $42.50 in a research note on Tuesday, September 17th. Finally, Stifel Nicolaus upped their price target on Aramark from $43.00 to $45.00 and gave the stock a "buy" rating in a research note on Tuesday, November 12th. 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, the stock has an average rating of "Moderate Buy" and a consensus price target of $42.23.

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.