ING Groep NV Has $3.45 Million Stake in Aramark (NYSE:ARMK)

ING Groep NV trimmed its holdings in Aramark (NYSE:ARMK) by 58.8% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 89,000 shares of the company’s stock after selling 127,000 shares during the quarter. ING Groep NV’s holdings in Aramark were worth $3,447,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently bought and sold shares of the stock. Huntington National Bank lifted its position in shares of Aramark by 100.3% in the 3rd quarter. Huntington National Bank now owns 681 shares of the company’s stock worth $26,000 after acquiring an additional 341 shares during the period. KBC Group NV boosted its position in Aramark by 18.3% in the third quarter. KBC Group NV now owns 6,878 shares of the company’s stock valued at $266,000 after buying an additional 1,064 shares in the last quarter. Oppenheimer Asset Management Inc. grew its position in Aramark by 25.8% during the 3rd quarter. Oppenheimer Asset Management Inc. now owns 11,733 shares of the company’s stock worth $454,000 after acquiring an additional 2,406 shares during the last quarter. GSA Capital Partners LLP grew its holdings in shares of Aramark by 24.1% during the third quarter. GSA Capital Partners LLP now owns 35,227 shares of the company’s stock worth $1,364,000 after purchasing an additional 6,837 shares during the last quarter. Finally, Sigma Planning Corp grew its holdings in Aramark by 7.1% during the 3rd quarter. Sigma Planning Corp now owns 12,666 shares of the company’s stock worth $491,000 after acquiring an additional 842 shares during the last quarter.

Aramark Stock Performance

NYSE:ARMK opened at $37.36 on Friday. The stock has a 50 day simple moving average of $38.28 and a 200 day simple moving average of $35.23. The stock has a market cap of $9.84 billion, a P/E ratio of 37.74 and a beta of 1.62. Aramark has a 1-year low of $26.58 and a 1-year high of $42.04. The company has a current ratio of 0.81, a quick ratio of 0.86 and a debt-to-equity ratio of 1.42.

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. 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 analysts’ expectations of $4.46 billion. During the same period in the previous year, the company posted $0.64 earnings per share. The firm’s revenue for the quarter was up 5.2% compared to the same quarter last year. Research analysts anticipate that Aramark will post 1.92 earnings per share for the current year.

Aramark Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Investors 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 annualized dividend and a dividend yield of 0.01%. Aramark’s dividend payout ratio is 42.42%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the company. Deutsche Bank Aktiengesellschaft raised Aramark from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $36.00 to $39.00 in a research note on Wednesday, August 7th. UBS Group increased their price objective on shares of Aramark from $40.00 to $44.00 and gave the stock a “buy” rating in a research report on Tuesday, October 8th. The Goldman Sachs Group lifted their target price on Aramark from $38.00 to $41.00 and gave the company a “buy” rating in a research report on Wednesday, October 16th. Truist Financial lifted their price target 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. Finally, StockNews.com upgraded Aramark from a “sell” rating to a “hold” rating in a research note on Tuesday, October 29th. Three analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $42.23.

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.