Glenmede Trust Co. NA Buys 10,092 Shares of Aramark (NYSE:ARMK)

Glenmede Trust Co. NA lifted its stake in shares of Aramark (NYSE:ARMK) by 2.3% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 445,265 shares of the company’s stock after purchasing an additional 10,092 shares during the quarter. Glenmede Trust Co. NA owned about 0.17% of Aramark worth $17,245,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in ARMK. Massachusetts Financial Services Co. MA raised its holdings in Aramark by 70.0% during the third quarter. Massachusetts Financial Services Co. MA now owns 8,329,917 shares of the company’s stock worth $322,618,000 after buying an additional 3,430,131 shares during the last quarter. Dimensional Fund Advisors LP raised 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 position in Aramark by 0.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,732,661 shares of the company’s stock valued at $67,106,000 after acquiring an additional 14,839 shares in the last quarter. Millennium Management LLC boosted its stake in Aramark by 822.3% during the 2nd quarter. Millennium Management LLC now owns 1,677,629 shares of the company’s stock valued at $57,073,000 after purchasing an additional 1,495,737 shares during the last quarter. Finally, Public Employees Retirement Association of Colorado increased its holdings in Aramark by 13.8% during the 2nd quarter. Public Employees Retirement Association of Colorado now owns 922,212 shares of the company’s stock worth $31,374,000 after purchasing an additional 112,038 shares in the last quarter.

Aramark Trading Down 3.4 %

Shares of ARMK stock opened at $40.77 on Friday. 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 cap of $10.76 billion, a P/E ratio of 41.18 and a beta of 1.62. The company has a 50 day moving average of $38.62 and a 200-day moving average of $35.76. Aramark has a 12-month low of $26.58 and a 12-month high of $42.49.

Aramark (NYSE:ARMK) last released its earnings results on Monday, November 11th. The company reported $0.54 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $4.46 billion. During the same period last year, the business posted $0.64 earnings per share. The business’s revenue for the quarter was up 5.2% on a year-over-year basis. Sell-side analysts anticipate that Aramark will post 1.92 earnings per share for the current year.

Aramark Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Monday, December 2nd will be given a dividend of $0.001 per share. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $0.00 dividend on an annualized basis and a yield of 0.01%. Aramark’s dividend payout ratio is presently 38.38%.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on ARMK. JPMorgan Chase & Co. raised their target price on Aramark from $41.00 to $45.00 and gave the company an “overweight” rating in a report on Tuesday, November 12th. Stifel Nicolaus lifted their price objective on shares of Aramark from $43.00 to $45.00 and gave the stock a “buy” rating in a report on Tuesday, November 12th. UBS Group raised 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. StockNews.com upgraded shares of Aramark from a “sell” rating to a “hold” rating in a report on Tuesday, October 29th. Finally, Royal Bank of Canada raised shares of Aramark from a “sector perform” rating to an “outperform” rating and lifted their target price for the stock from $36.00 to $42.50 in a research report on Tuesday, September 17th. 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.com, the company has an average rating of “Moderate Buy” and an average target price 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.