Massachusetts Financial Services Co. MA Sells 49,982 Shares of Aramark (NYSE:ARMK)

Massachusetts Financial Services Co. MA decreased its position in Aramark (NYSE:ARMK) by 1.0% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 4,899,786 shares of the company’s stock after selling 49,982 shares during the quarter. Massachusetts Financial Services Co. MA’s holdings in Aramark were worth $166,691,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Vanguard Group Inc. grew its stake in shares of Aramark by 0.5% in the 4th quarter. Vanguard Group Inc. now owns 25,584,242 shares of the company’s stock worth $718,917,000 after buying an additional 139,693 shares during the last quarter. Capital International Investors grew its stake in shares of Aramark by 0.4% in the first quarter. Capital International Investors now owns 23,712,814 shares of the company’s stock worth $771,141,000 after acquiring an additional 98,506 shares during the last quarter. Farallon Capital Management LLC increased its holdings in shares of Aramark by 5.5% during the first quarter. Farallon Capital Management LLC now owns 17,822,937 shares of the company’s stock valued at $579,602,000 after acquiring an additional 923,683 shares in the last quarter. Janus Henderson Group PLC raised its position in shares of Aramark by 5.4% in the 1st quarter. Janus Henderson Group PLC now owns 13,391,832 shares of the company’s stock worth $435,501,000 after purchasing an additional 681,735 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its stake in Aramark by 13.5% in the 1st quarter. Bank of New York Mellon Corp now owns 4,432,655 shares of the company’s stock worth $144,150,000 after purchasing an additional 527,041 shares in the last quarter.

Aramark Price Performance

Shares of NYSE:ARMK opened at $38.60 on Wednesday. The company has a quick ratio of 0.86, a current ratio of 0.96 and a debt-to-equity ratio of 1.71. The stock has a market capitalization of $10.15 billion, a PE ratio of 16.22, a price-to-earnings-growth ratio of 2.04 and a beta of 1.62. The firm’s 50 day moving average price is $35.12 and its 200-day moving average price is $33.30. Aramark has a twelve month low of $23.95 and a twelve month high of $38.99.

Aramark (NYSE:ARMK) last released its quarterly earnings results on Tuesday, August 6th. The company reported $0.31 earnings per share for the quarter, topping the consensus estimate of $0.30 by $0.01. Aramark had a net margin of 1.93% and a return on equity of 14.09%. The business had revenue of $4.38 billion for the quarter, compared to the consensus estimate of $4.31 billion. During the same period last year, the firm earned $0.36 earnings per share. The company’s quarterly revenue was up 8.0% on a year-over-year basis. Equities research analysts expect that Aramark will post 1.57 EPS for the current year.

Aramark Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Monday, August 19th were given a dividend of $0.095 per share. The ex-dividend date was Monday, August 19th. This represents a $0.38 annualized dividend and a yield of 0.98%. Aramark’s dividend payout ratio (DPR) is presently 15.97%.

Analyst Ratings Changes

Several research analysts have issued reports on the stock. Truist Financial lifted their target price on shares of Aramark from $37.00 to $42.00 and gave the stock a “buy” rating in a report on Thursday, September 12th. StockNews.com cut Aramark from a “hold” rating to a “sell” rating in a research report on Friday, September 13th. Oppenheimer lifted their target price on Aramark from $36.00 to $39.00 and gave the stock an “outperform” rating in a report on Wednesday, June 12th. Bank of America upped their price target on Aramark from $36.00 to $39.00 and gave the company a “buy” rating in a report on Wednesday, August 7th. Finally, JPMorgan Chase & Co. boosted their target price on Aramark from $39.00 to $41.00 and gave the stock an “overweight” rating in a research report on Monday, September 9th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $37.36.

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.