Aramark (NYSE:ARMK) Shares Acquired by Quest Partners LLC

Quest Partners LLC raised its holdings in shares of Aramark (NYSE:ARMK) by 3,617,700.0% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 36,178 shares of the company’s stock after purchasing an additional 36,177 shares during the quarter. Quest Partners LLC’s holdings in Aramark were worth $1,401,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of ARMK. Huntington National Bank increased 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 purchasing an additional 341 shares during the last quarter. Capital Performance Advisors LLP bought a new stake in Aramark in the third quarter valued at about $28,000. UMB Bank n.a. raised its stake in Aramark by 360.1% during the third quarter. UMB Bank n.a. now owns 773 shares of the company’s stock valued at $30,000 after buying an additional 605 shares in the last quarter. Friedenthal Financial bought a new position in Aramark during the 3rd quarter worth approximately $52,000. Finally, GAMMA Investing LLC grew its position in shares of Aramark by 319.3% in the 2nd quarter. GAMMA Investing LLC now owns 1,677 shares of the company’s stock worth $57,000 after acquiring an additional 1,277 shares in the last quarter.

Analysts Set New Price Targets

Several equities analysts recently issued reports on ARMK shares. Deutsche Bank Aktiengesellschaft upgraded Aramark from a “hold” rating to a “buy” rating and raised their price objective for the stock from $36.00 to $39.00 in a research note on Wednesday, August 7th. StockNews.com upgraded shares of Aramark from a “sell” rating to a “hold” rating in a research report on Tuesday, October 29th. UBS Group boosted their price objective 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. Royal Bank of Canada raised shares of Aramark from a “sector perform” rating to an “outperform” rating and raised their target price for the stock from $36.00 to $42.50 in a report on Tuesday, September 17th. Finally, Stifel Nicolaus upped their target price on Aramark from $43.00 to $45.00 and gave the company a “buy” rating in a report on Tuesday, November 12th. Three analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $42.23.

Aramark Trading Up 1.2 %

Shares of ARMK stock opened at $37.70 on Wednesday. The firm has a market capitalization of $9.93 billion, a PE ratio of 38.08 and a beta of 1.62. The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.72 and a current ratio of 0.81. Aramark has a 1 year low of $26.58 and a 1 year high of $42.04. The stock has a fifty day moving average of $38.27 and a two-hundred day moving average of $35.33.

Aramark (NYSE:ARMK) last posted 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 quarterly revenue was up 5.2% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.64 earnings per share. As a group, research analysts expect that Aramark will post 1.92 EPS for the current year.

Aramark Cuts Dividend

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

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.