Xponance Inc. Decreases Stake in Aramark (NYSE:ARMK)

Xponance Inc. lessened its holdings in shares of Aramark (NYSE:ARMK) by 9.1% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 28,798 shares of the company’s stock after selling 2,867 shares during the period. Xponance Inc.’s holdings in Aramark were worth $980,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. Bradley Foster & Sargent Inc. CT boosted its holdings in shares of Aramark by 0.4% during the 2nd quarter. Bradley Foster & Sargent Inc. CT now owns 69,987 shares of the company’s stock worth $2,381,000 after purchasing an additional 310 shares during the last quarter. Industrial Alliance Investment Management Inc. boosted its stake in Aramark by 3.3% during the first quarter. Industrial Alliance Investment Management Inc. now owns 10,660 shares of the company’s stock worth $347,000 after buying an additional 340 shares during the last quarter. Twin Tree Management LP grew its holdings in Aramark by 32.0% in the 1st quarter. Twin Tree Management LP now owns 1,424 shares of the company’s stock valued at $46,000 after buying an additional 345 shares in the last quarter. Daiwa Securities Group Inc. increased its stake in shares of Aramark by 2.3% in the 1st quarter. Daiwa Securities Group Inc. now owns 19,540 shares of the company’s stock worth $635,000 after acquiring an additional 432 shares during the last quarter. Finally, CIBC Asset Management Inc raised its holdings in shares of Aramark by 7.7% during the 2nd quarter. CIBC Asset Management Inc now owns 7,356 shares of the company’s stock worth $250,000 after acquiring an additional 523 shares during the period.

Aramark Price Performance

Shares of ARMK opened at $38.44 on Friday. The company has a market cap of $10.11 billion, a P/E ratio of 16.15 and a beta of 1.62. Aramark has a fifty-two week low of $23.95 and a fifty-two week high of $38.99. 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 firm’s 50 day moving average price is $35.87 and its 200 day moving average price is $33.64.

Aramark (NYSE:ARMK) last announced its quarterly earnings data on Tuesday, August 6th. The company reported $0.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.30 by $0.01. The business had revenue of $4.38 billion for the quarter, compared to analysts’ expectations of $4.31 billion. Aramark had a return on equity of 14.09% and a net margin of 1.93%. The company’s revenue for the quarter was up 8.0% compared to the same quarter last year. During the same period last year, the firm earned $0.36 earnings per share. On average, research analysts forecast that Aramark will post 1.56 earnings per share for the current fiscal year.

Aramark Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Monday, August 19th were paid a $0.095 dividend. This represents a $0.38 annualized dividend and a dividend yield of 0.99%. The ex-dividend date of this dividend was Monday, August 19th. Aramark’s payout ratio is presently 15.97%.

Analysts Set New Price Targets

ARMK has been the subject of several recent analyst reports. UBS Group raised their price objective on shares of Aramark from $35.00 to $40.00 and gave the stock a “buy” rating in a research report on Friday, June 21st. Royal Bank of Canada raised shares of Aramark from a “sector perform” rating to an “outperform” rating and lifted their price target for the company from $36.00 to $42.50 in a research report on Tuesday, September 17th. StockNews.com upgraded Aramark from a “sell” rating to a “hold” rating in a report on Saturday, September 21st. Robert W. Baird raised their target price on Aramark from $37.00 to $38.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 7th. Finally, Deutsche Bank Aktiengesellschaft raised Aramark from a “hold” rating to a “buy” rating and upped their price target for the company from $36.00 to $39.00 in a research note on Wednesday, August 7th. Three analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat, Aramark presently has an average 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.