Aramark (NYSE:ARMK) Shares Sold by iA Global Asset Management Inc.

iA Global Asset Management Inc. decreased its holdings in shares of Aramark (NYSE:ARMK - Free Report) by 11.0% during the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 838,281 shares of the company's stock after selling 103,794 shares during the quarter. iA Global Asset Management Inc. owned 0.32% of Aramark worth $32,467,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of ARMK. Blue Trust Inc. increased its position in shares of Aramark by 173.9% during the third quarter. Blue Trust Inc. now owns 5,697 shares of the company's stock worth $221,000 after acquiring an additional 3,617 shares during the period. Anthracite Investment Company Inc. purchased a new position in Aramark during the 3rd quarter worth $3,524,000. Charles Schwab Investment Management Inc. increased its holdings in Aramark by 0.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,732,661 shares of the company's stock worth $67,106,000 after purchasing an additional 14,839 shares during the period. Leeward Investments LLC MA purchased a new stake in shares of Aramark in the 2nd quarter worth $9,263,000. Finally, Quest Partners LLC lifted its holdings in shares of Aramark by 3,617,700.0% in the 3rd quarter. Quest Partners LLC now owns 36,178 shares of the company's stock worth $1,401,000 after buying an additional 36,177 shares during the period.

Aramark Stock Performance

Aramark stock traded up $0.01 during mid-day trading on Friday, reaching $41.61. 1,956,853 shares of the company traded hands, compared to its average volume of 2,258,656. The firm's fifty day moving average is $39.01 and its two-hundred day moving average is $36.10. The company has a market capitalization of $10.98 billion, a price-to-earnings ratio of 42.03 and a beta of 1.63. Aramark has a fifty-two week low of $26.58 and a fifty-two week high of $42.49. 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 quarterly earnings results on Monday, November 11th. The company reported $0.54 earnings per share 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 business had revenue of $4.42 billion for the quarter, compared to the consensus estimate of $4.46 billion. During the same quarter in the previous year, the business earned $0.64 EPS. The company's quarterly revenue was up 5.2% compared to the same quarter last year. On average, equities research analysts expect that Aramark will post 1.92 earnings per share for the current fiscal year.

Aramark Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Monday, December 2nd will be issued a $0.001 dividend. This represents a $0.00 annualized dividend and a yield of 0.01%. The ex-dividend date of this dividend is Monday, December 2nd. Aramark's payout ratio is 42.42%.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the stock. Royal Bank of Canada raised shares of Aramark from a "sector perform" rating to an "outperform" rating and upped their price target for the stock from $36.00 to $42.50 in a research report on Tuesday, September 17th. Morgan Stanley upped their target price on Aramark from $38.00 to $40.00 and gave the stock an "equal weight" rating in a report on Tuesday, November 12th. UBS Group increased their target price on Aramark from $40.00 to $44.00 and gave the company a "buy" rating in a research report on Tuesday, October 8th. StockNews.com raised Aramark from a "sell" rating to a "hold" rating in a research report on Tuesday, October 29th. Finally, Robert W. Baird raised their price objective on Aramark from $38.00 to $44.00 and gave the company a "neutral" rating in a research report on Tuesday, November 12th. Three research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price 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.