Geode Capital Management LLC Grows Stock Holdings in Aramark (NYSE:ARMK)

Geode Capital Management LLC lifted its position in Aramark (NYSE:ARMK) by 1.1% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 4,363,113 shares of the company’s stock after buying an additional 45,384 shares during the quarter. Geode Capital Management LLC’s holdings in Aramark were worth $169,028,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Massachusetts Financial Services Co. MA grew its position in Aramark by 70.0% in the 3rd 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 in the last quarter. Millennium Management LLC grew its holdings in shares of Aramark by 822.3% in the second 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 in the last quarter. Janus Henderson Group PLC increased its stake in Aramark by 6.0% during the 3rd quarter. Janus Henderson Group PLC now owns 15,714,443 shares of the company’s stock worth $608,619,000 after buying an additional 896,288 shares during the period. Dimensional Fund Advisors LP lifted its holdings in Aramark by 18.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 4,731,963 shares of the company’s stock worth $160,977,000 after buying an additional 720,738 shares in the last quarter. Finally, Point72 Europe London LLP acquired a new stake in Aramark during the 3rd quarter worth approximately $18,105,000.

Aramark Price Performance

ARMK stock opened at $40.17 on Monday. The stock has a market cap of $10.60 billion, a price-to-earnings ratio of 40.58 and a beta of 1.63. Aramark has a fifty-two week low of $27.05 and a fifty-two week high of $42.49. 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 business has a 50 day moving average price of $39.22 and a 200 day moving average price of $36.43.

Aramark (NYSE:ARMK) last issued its quarterly earnings data on Monday, November 11th. The company reported $0.54 earnings per share for the quarter, hitting the consensus estimate of $0.54. The business had revenue of $4.42 billion during the quarter, compared to the consensus estimate of $4.46 billion. Aramark had a net margin of 1.51% and a return on equity of 14.06%. The company’s revenue was up 5.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.64 EPS. Equities research analysts anticipate that Aramark will post 1.92 earnings per share for the current fiscal year.

Aramark Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, December 12th. Shareholders of record on Monday, December 2nd were paid a $0.001 dividend. The ex-dividend date was Monday, December 2nd. This represents a $0.00 annualized dividend and a yield of 0.01%. Aramark’s dividend payout ratio is presently 42.42%.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on ARMK shares. Morgan Stanley upped their price objective on Aramark from $40.00 to $43.00 and gave the stock an “equal weight” rating in a research report on Thursday. JPMorgan Chase & Co. upped their price target on Aramark from $41.00 to $45.00 and gave the stock an “overweight” rating in a report on Tuesday, November 12th. The Goldman Sachs Group increased their price target on Aramark from $38.00 to $41.00 and gave the company a “buy” rating in a research report on Wednesday, October 16th. Stifel Nicolaus boosted their price objective on Aramark from $43.00 to $45.00 and gave the stock a “buy” rating in a research report on Tuesday, November 12th. Finally, Robert W. Baird upped their target price on shares of Aramark from $44.00 to $45.00 and gave the stock a “neutral” rating in a research note on Thursday. Three investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat.com, Aramark presently has a consensus rating of “Moderate Buy” and a consensus target price of $42.59.

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.