Aramark (NYSE:ARMK) Holdings Lowered by Public Employees Retirement System of Ohio

Public Employees Retirement System of Ohio cut its stake in Aramark (NYSE:ARMK) by 4.7% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 95,100 shares of the company’s stock after selling 4,738 shares during the period. Public Employees Retirement System of Ohio’s holdings in Aramark were worth $3,683,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in ARMK. Wealth Enhancement Advisory Services LLC increased its position in shares of Aramark by 25.6% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 9,239 shares of the company’s stock valued at $314,000 after purchasing an additional 1,883 shares during the period. Blue Trust Inc. grew its holdings in Aramark by 225.5% during the second quarter. Blue Trust Inc. now owns 2,080 shares of the company’s stock worth $68,000 after acquiring an additional 1,441 shares during the period. Fifth Third Wealth Advisors LLC bought a new stake in Aramark in the second quarter worth about $280,000. Allspring Global Investments Holdings LLC lifted its holdings in Aramark by 84.3% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 7,228 shares of the company’s stock valued at $246,000 after acquiring an additional 3,307 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Aramark by 7.7% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 54,715 shares of the company’s stock valued at $1,861,000 after purchasing an additional 3,908 shares in the last quarter.

Aramark Trading Down 0.6 %

NYSE:ARMK opened at $40.17 on Monday. The stock has a market cap of $10.60 billion, a PE 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 debt-to-equity ratio of 1.42, a current ratio of 0.81 and a quick ratio of 0.72. The stock’s 50-day moving average is $39.22 and its two-hundred day moving average is $36.43.

Aramark (NYSE:ARMK) last announced its quarterly earnings data on Monday, November 11th. The company reported $0.54 EPS for the quarter, meeting analysts’ consensus estimates 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 previous year, the firm posted $0.64 earnings per share. The firm’s revenue was up 5.2% on a year-over-year basis. As a group, equities research analysts forecast that Aramark will post 1.92 earnings per share for the current fiscal year.

Aramark Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, December 12th. Investors of record on Monday, December 2nd were issued a dividend of $0.001 per share. The ex-dividend date of this dividend was 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%.

Analysts Set New Price Targets

A number of research firms recently commented on ARMK. Robert W. Baird boosted their target price on shares of Aramark from $44.00 to $45.00 and gave the stock a “neutral” rating in a report on Thursday. JPMorgan Chase & Co. upped their price target on Aramark from $41.00 to $45.00 and gave the company an “overweight” rating in a report on Tuesday, November 12th. Truist Financial raised their price objective on Aramark from $42.00 to $46.00 and gave the stock a “buy” rating in a research note on Tuesday, November 12th. StockNews.com raised Aramark from a “sell” rating to a “hold” rating in a research report on Tuesday, October 29th. Finally, Stifel Nicolaus increased their price target on Aramark from $43.00 to $45.00 and gave the company a “buy” rating in a research report on Tuesday, November 12th. Three research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $42.59.

Aramark Company 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.