Point72 Europe London LLP Invests $18.11 Million in Aramark (NYSE:ARMK)

Point72 Europe London LLP purchased a new position in Aramark (NYSE:ARMK - Free Report) in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 467,470 shares of the company's stock, valued at approximately $18,105,000. Aramark makes up approximately 1.2% of Point72 Europe London LLP's holdings, making the stock its 18th largest holding. Point72 Europe London LLP owned approximately 0.18% of Aramark at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of ARMK. Massachusetts Financial Services Co. MA lifted its holdings in shares of Aramark by 70.0% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 8,329,917 shares of the company's stock worth $322,618,000 after acquiring an additional 3,430,131 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Aramark by 18.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 4,731,963 shares of the company's stock worth $160,977,000 after acquiring an additional 720,738 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of 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 acquiring an additional 14,839 shares during the last quarter. Millennium Management LLC lifted its holdings in shares of Aramark by 822.3% in the 2nd quarter. Millennium Management LLC now owns 1,677,629 shares of the company's stock worth $57,073,000 after acquiring an additional 1,495,737 shares during the last quarter. Finally, Public Employees Retirement Association of Colorado lifted its holdings in shares of Aramark by 13.8% in the 2nd quarter. Public Employees Retirement Association of Colorado now owns 922,212 shares of the company's stock worth $31,374,000 after acquiring an additional 112,038 shares during the last quarter.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the stock. Truist Financial boosted their price objective on shares of Aramark from $42.00 to $46.00 and gave the stock a "buy" rating in a report on Tuesday, November 12th. StockNews.com upgraded shares of Aramark from a "sell" rating to a "hold" rating in a report on Tuesday, October 29th. UBS Group increased their price target on shares of Aramark from $40.00 to $44.00 and gave the company a "buy" rating in a research report on Tuesday, October 8th. Morgan Stanley raised their price target on shares of Aramark from $38.00 to $40.00 and gave the stock an "equal weight" rating in a report on Tuesday, November 12th. Finally, Royal Bank of Canada raised shares of Aramark from a "sector perform" rating to an "outperform" rating and raised their price target for the stock from $36.00 to $42.50 in a report on Tuesday, September 17th. Three analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, Aramark presently has a consensus rating of "Moderate Buy" and an average price target of $42.23.

Aramark Trading Down 0.2 %

Shares of NYSE:ARMK traded down $0.08 on Friday, hitting $40.69. The company had a trading volume of 801,980 shares, compared to its average volume of 2,223,643. 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 firm has a market capitalization of $10.74 billion, a price-to-earnings ratio of 41.10 and a beta of 1.62. The firm's 50-day simple moving average is $38.68 and its two-hundred day simple moving average is $35.83. Aramark has a 1 year low of $26.58 and a 1 year high of $42.49.

Aramark (NYSE:ARMK - Get Free Report) last announced its earnings results on Monday, November 11th. The company reported $0.54 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 analysts' expectations of $4.46 billion. During the same quarter in the previous year, the business posted $0.64 EPS. The company's quarterly revenue was up 5.2% on a year-over-year basis. Equities analysts anticipate that Aramark will post 1.92 earnings per share for the current fiscal year.

Aramark Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders 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 dividend yield of 0.01%. The ex-dividend date 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.