State of New Jersey Common Pension Fund D Sells 3,002 Shares of Aramark (NYSE:ARMK)

State of New Jersey Common Pension Fund D reduced its holdings in shares of Aramark (NYSE:ARMK) by 3.3% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 89,070 shares of the company’s stock after selling 3,002 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Aramark were worth $3,450,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of ARMK. Capital Performance Advisors LLP bought a new stake in shares of Aramark during the 3rd quarter worth $28,000. UMB Bank n.a. boosted its stake in Aramark by 360.1% in the third quarter. UMB Bank n.a. now owns 773 shares of the company’s stock valued at $30,000 after acquiring an additional 605 shares during the last quarter. Twin Tree Management LP grew its position in shares of Aramark by 32.0% during the 1st quarter. Twin Tree Management LP now owns 1,424 shares of the company’s stock valued at $46,000 after acquiring an additional 345 shares during the period. Friedenthal Financial purchased a new stake in shares of Aramark during the 3rd quarter worth approximately $52,000. Finally, GAMMA Investing LLC raised its holdings 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 purchasing an additional 1,277 shares during the period.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on ARMK shares. The Goldman Sachs Group increased their price objective on Aramark from $38.00 to $41.00 and gave the company a “buy” rating in a report on Wednesday, October 16th. StockNews.com raised Aramark from a “sell” rating to a “hold” rating in a report on Tuesday, October 29th. Truist Financial upped their price objective on shares of Aramark from $42.00 to $46.00 and gave the company a “buy” rating in a report on Tuesday. Robert W. Baird lifted their target price on shares of Aramark from $38.00 to $44.00 and gave the stock a “neutral” rating in a research note on Tuesday. Finally, Morgan Stanley upped their price target on shares of Aramark from $38.00 to $40.00 and gave the company an “equal weight” rating in a research note on Tuesday. Three analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $42.23.

Aramark Stock Down 1.7 %

Shares of NYSE ARMK opened at $38.03 on Wednesday. The business has a 50-day moving average of $38.15 and a 200-day moving average of $35.10. The firm has a market capitalization of $10.02 billion, a price-to-earnings ratio of 38.45 and a beta of 1.62. The company has a current ratio of 0.96, a quick ratio of 0.86 and a debt-to-equity ratio of 1.71. Aramark has a 12 month low of $25.92 and a 12 month high of $42.04.

Aramark (NYSE:ARMK) last issued its quarterly earnings results on Monday, November 11th. The company reported $0.54 EPS for the quarter, hitting analysts’ consensus estimates of $0.54. Aramark had a net margin of 1.93% and a return on equity of 14.09%. The firm had revenue of $4.42 billion for the quarter, compared to analyst estimates of $4.46 billion. During the same quarter in the prior year, the firm earned $0.64 EPS. The business’s revenue for the quarter was up 5.2% compared to the same quarter last year. Sell-side analysts expect that Aramark will post 1.55 earnings per share for the current fiscal year.

Aramark Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Monday, December 2nd will be given a dividend of $0.001 per share. The ex-dividend date is Monday, December 2nd. This represents a $0.00 annualized dividend and a dividend yield of 0.01%. Aramark’s dividend payout ratio (DPR) is presently 38.38%.

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.