Wellington Management Group LLP Sells 254,170 Shares of Aramark (NYSE:ARMK)

Wellington Management Group LLP lowered its stake in Aramark (NYSE:ARMK - Free Report) by 14.3% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,527,957 shares of the company's stock after selling 254,170 shares during the period. Wellington Management Group LLP owned approximately 0.58% of Aramark worth $59,178,000 as of its most recent filing with the SEC.

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

Analysts Set New Price Targets

A number of research firms recently commented on ARMK. Royal Bank of Canada raised shares of Aramark from a "sector perform" rating to an "outperform" rating and raised their price objective for the stock from $36.00 to $42.50 in a research note on Tuesday, September 17th. Robert W. Baird raised their target price on Aramark from $38.00 to $44.00 and gave the stock a "neutral" rating in a research report on Tuesday, November 12th. Morgan Stanley upped their price target on Aramark from $38.00 to $40.00 and gave the company an "equal weight" rating in a research report on Tuesday, November 12th. UBS Group increased their price objective on Aramark from $40.00 to $44.00 and gave the stock a "buy" rating in a research note on Tuesday, October 8th. Finally, Truist Financial lifted their target price on Aramark from $42.00 to $46.00 and gave the company a "buy" rating in a research note on Tuesday, November 12th. Three investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat, Aramark has an average rating of "Moderate Buy" and an average price target of $42.23.

Aramark Stock Up 1.5 %

NYSE ARMK traded up $0.61 during trading on Wednesday, reaching $40.75. The company's stock had a trading volume of 2,320,603 shares, compared to its average volume of 2,218,647. The business has a 50-day moving average price of $39.08 and a 200-day moving average price of $36.24. Aramark has a 1-year low of $26.58 and a 1-year high of $42.49. The stock has a market capitalization of $10.76 billion, a PE ratio of 40.53 and a beta of 1.63. 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 posted its earnings results on Monday, November 11th. The company reported $0.54 EPS for the quarter, hitting the consensus estimate 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 period in the prior year, the business posted $0.64 earnings per share. The business's quarterly revenue was up 5.2% on a year-over-year basis. On average, research analysts forecast 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. Stockholders of record on Monday, December 2nd will be given a $0.001 dividend. This represents a $0.00 annualized dividend and a dividend yield of 0.01%. The ex-dividend date is Monday, December 2nd. Aramark's dividend payout ratio is currently 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.