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

PointState Capital LP lowered its holdings in Aramark (NYSE:ARMK) by 47.2% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,142,825 shares of the company’s stock after selling 1,023,085 shares during the quarter. Aramark makes up 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 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Janus Henderson Group PLC lifted its holdings in Aramark by 6.0% during the third quarter. Janus Henderson Group PLC now owns 15,714,443 shares of the company’s stock valued at $608,619,000 after purchasing an additional 896,288 shares in the last quarter. Massachusetts Financial Services Co. MA increased its position in shares of Aramark by 70.0% during the third quarter. Massachusetts Financial Services Co. MA now owns 8,329,917 shares of the company’s stock valued at $322,618,000 after acquiring an additional 3,430,131 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Aramark by 18.0% in the second quarter. Dimensional Fund Advisors LP now owns 4,731,963 shares of the company’s stock valued at $160,977,000 after purchasing an additional 720,738 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of Aramark by 0.9% in 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 purchasing an additional 14,839 shares in the last quarter. Finally, Millennium Management LLC lifted its stake in Aramark by 822.3% in the second 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.

Analyst Ratings Changes

Several analysts have recently weighed in on ARMK shares. Royal Bank of Canada upgraded shares of Aramark from a “sector perform” rating to an “outperform” rating and boosted their price objective for the stock from $36.00 to $42.50 in a research report on Tuesday, September 17th. 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 note on Tuesday, November 12th. Truist Financial increased their price objective on shares of Aramark from $42.00 to $46.00 and gave the company a “buy” rating in a research note on Tuesday, November 12th. Morgan Stanley increased their price objective on shares of Aramark from $38.00 to $40.00 and gave the company an “equal weight” rating in a research note on Tuesday, November 12th. Finally, Robert W. Baird increased their price objective on shares of Aramark from $38.00 to $44.00 and gave the stock a “neutral” rating in a report on Tuesday, November 12th. Three equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $42.23.

Aramark Trading Down 0.3 %

Shares of ARMK opened at $40.19 on Wednesday. The company has a quick ratio of 0.72, a current ratio of 0.81 and a debt-to-equity ratio of 1.42. Aramark has a 12-month low of $26.58 and a 12-month high of $42.49. The firm has a market capitalization of $10.61 billion, a PE ratio of 40.60 and a beta of 1.63. The stock’s fifty day simple moving average is $38.81 and its 200-day simple moving average is $35.94.

Aramark (NYSE:ARMK) last issued its quarterly earnings results on Monday, November 11th. The company reported $0.54 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.54. The business had revenue of $4.42 billion for the quarter, compared to analyst estimates of $4.46 billion. Aramark had a return on equity of 14.06% and a net margin of 1.51%. The firm’s revenue for the quarter was up 5.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.64 earnings per share. As a group, research analysts predict that Aramark will post 1.92 earnings per share for the current year.

Aramark Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Monday, December 2nd will be issued a $0.001 dividend. 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 42.42%.

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.