PointState Capital LP Sells 1,023,085 Shares of Aramark (NYSE:ARMK)

PointState Capital LP decreased its holdings in shares of Aramark (NYSE:ARMK - Free Report) by 47.2% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,142,825 shares of the company's stock after selling 1,023,085 shares during the period. Aramark accounts for about 0.8% of PointState Capital LP's portfolio, making the stock its 23rd biggest position. PointState Capital LP owned 0.43% of Aramark worth $44,262,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. GAMMA Investing LLC raised its stake in Aramark by 319.3% during the 2nd quarter. GAMMA Investing LLC now owns 1,677 shares of the company's stock worth $57,000 after buying an additional 1,277 shares during the period. OLD National Bancorp IN raised its stake in shares of Aramark by 6.8% in the second quarter. OLD National Bancorp IN now owns 11,047 shares of the company's stock worth $376,000 after purchasing an additional 708 shares during the last quarter. Wealth Enhancement Advisory Services LLC raised its stake in shares of Aramark by 25.6% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 9,239 shares of the company's stock worth $314,000 after purchasing an additional 1,883 shares during the last quarter. Blue Trust Inc. raised its stake in shares of Aramark by 225.5% in the second quarter. Blue Trust Inc. now owns 2,080 shares of the company's stock worth $68,000 after purchasing an additional 1,441 shares during the last quarter. Finally, Franklin Street Advisors Inc. NC purchased a new stake in shares of Aramark in the second quarter worth approximately $272,000.

Aramark Stock Performance

Shares of NYSE ARMK traded up $0.79 during mid-day trading on Wednesday, hitting $41.00. The company had a trading volume of 1,381,851 shares, compared to its average volume of 2,219,052. The company has a market capitalization of $10.82 billion, a price-to-earnings ratio of 40.60 and a beta of 1.63. Aramark has a 1 year low of $26.58 and a 1 year high of $42.49. The company has a current ratio of 0.81, a quick ratio of 0.72 and a debt-to-equity ratio of 1.42. The stock's 50-day moving average price is $38.81 and its 200-day moving average price is $35.94.

Aramark (NYSE:ARMK - Get Free Report) last announced 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. The company had revenue of $4.42 billion during the quarter, compared to analysts' expectations of $4.46 billion. Aramark had a return on equity of 14.06% and a net margin of 1.51%. The firm's quarterly revenue was up 5.2% compared to the same quarter last year. During the same period in the previous year, the business earned $0.64 earnings per share. On average, sell-side analysts forecast that Aramark will post 1.92 earnings per share for the current year.

Aramark Cuts Dividend

The firm 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. 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 dividend payout ratio is 42.42%.

Analyst Ratings Changes

Several analysts have recently commented on the company. Truist Financial increased their price objective on Aramark from $42.00 to $46.00 and gave the stock a "buy" rating in a research note on Tuesday, November 12th. Royal Bank of Canada raised Aramark from a "sector perform" rating to an "outperform" rating and increased their price objective for the stock from $36.00 to $42.50 in a research note on Tuesday, September 17th. Robert W. Baird upped their target price on Aramark from $38.00 to $44.00 and gave the company a "neutral" rating in a report on Tuesday, November 12th. Bank of America upped their target price on Aramark from $36.00 to $39.00 and gave the company a "buy" rating in a report on Wednesday, August 7th. Finally, StockNews.com raised Aramark from a "sell" rating to a "hold" rating in a report on Tuesday, October 29th. Three equities research 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.com, the stock has an average rating of "Moderate Buy" and an average price target of $42.23.

Aramark Profile

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.