Massachusetts Financial Services Co. MA Boosts Holdings in Aramark (NYSE:ARMK)

Massachusetts Financial Services Co. MA raised its stake in Aramark (NYSE:ARMK - Free Report) by 70.0% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 8,329,917 shares of the company's stock after buying an additional 3,430,131 shares during the period. Massachusetts Financial Services Co. MA owned about 3.16% of Aramark worth $322,618,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently added to or reduced their stakes in ARMK. Millennium Management LLC boosted its position in Aramark by 822.3% in the 2nd quarter. Millennium Management LLC now owns 1,677,629 shares of the company's stock valued at $57,073,000 after buying an additional 1,495,737 shares during the period. Farallon Capital Management LLC boosted its position in Aramark by 5.5% in the 1st quarter. Farallon Capital Management LLC now owns 17,822,937 shares of the company's stock valued at $579,602,000 after buying an additional 923,683 shares during the period. Dimensional Fund Advisors LP boosted its position in Aramark by 18.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 4,731,963 shares of the company's stock valued at $160,977,000 after buying an additional 720,738 shares during the period. Janus Henderson Group PLC lifted its position in shares of Aramark by 5.4% in the 1st quarter. Janus Henderson Group PLC now owns 13,391,832 shares of the company's stock worth $435,501,000 after purchasing an additional 681,735 shares during the period. Finally, Kingdon Capital Management L.L.C. purchased a new stake in shares of Aramark in the 1st quarter worth approximately $13,008,000.

Wall Street Analyst Weigh In

ARMK has been the subject of several research reports. Stifel Nicolaus upped their price target on shares of Aramark from $43.00 to $45.00 and gave the stock a "buy" rating in a research report on Tuesday, November 12th. Truist Financial upped their price target on shares of Aramark from $42.00 to $46.00 and gave the stock a "buy" rating in a research report on Tuesday, November 12th. The Goldman Sachs Group upped their price target on shares of Aramark from $38.00 to $41.00 and gave the stock a "buy" rating in a research report on Wednesday, October 16th. UBS Group upped their price target on shares of Aramark from $40.00 to $44.00 and gave the stock a "buy" rating in a research report on Tuesday, October 8th. Finally, Morgan Stanley upped their price target on shares of Aramark from $38.00 to $40.00 and gave the stock an "equal weight" rating in a research report on Tuesday, November 12th. Three investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, Aramark presently has an average rating of "Moderate Buy" and a consensus target price of $42.23.

Aramark Stock Performance

Aramark stock traded up $0.44 during mid-day trading on Friday, reaching $40.86. 1,838,355 shares of the company traded hands, compared to its average volume of 2,227,897. 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 fifty-two week low of $26.58 and a fifty-two week high of $42.04. The company has a market capitalization of $10.76 billion, a price-to-earnings ratio of 41.13 and a beta of 1.62. The firm's fifty day moving average is $38.34 and its two-hundred day moving average is $35.44.

Aramark (NYSE:ARMK - Get Free Report) last released its quarterly earnings data 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 net margin of 1.51% and a return on equity of 14.06%. The business's revenue for the quarter was up 5.2% on a year-over-year basis. During the same period in the prior year, the firm earned $0.64 EPS. On average, equities research analysts expect that Aramark will post 1.92 earnings per share for the current fiscal year.

Aramark Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Monday, December 2nd will be issued a dividend of $0.001 per share. This represents a $0.00 dividend on an annualized basis and a yield of 0.01%. The ex-dividend date of this dividend is Monday, December 2nd. Aramark's dividend payout ratio (DPR) is presently 42.42%.

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.