Millennium Management LLC Has $57.07 Million Holdings in Aramark (NYSE:ARMK)

Millennium Management LLC boosted its holdings in Aramark (NYSE:ARMK) by 822.3% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,677,629 shares of the company’s stock after buying an additional 1,495,737 shares during the quarter. Millennium Management LLC’s holdings in Aramark were worth $57,073,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of ARMK. Public Sector Pension Investment Board acquired a new stake in Aramark in the fourth quarter valued at about $75,477,000. Farallon Capital Management LLC boosted its stake in Aramark by 5.5% in the first quarter. Farallon Capital Management LLC now owns 17,822,937 shares of the company’s stock valued at $579,602,000 after buying an additional 923,683 shares in the last quarter. Schroder Investment Management Group boosted its stake in Aramark by 51.0% in the fourth quarter. Schroder Investment Management Group now owns 2,209,513 shares of the company’s stock valued at $62,087,000 after buying an additional 746,618 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in Aramark by 18.0% in the second quarter. Dimensional Fund Advisors LP now owns 4,731,963 shares of the company’s stock valued at $160,977,000 after buying an additional 720,738 shares in the last quarter. Finally, Janus Henderson Group PLC raised its position in Aramark by 5.4% in the first quarter. Janus Henderson Group PLC now owns 13,391,832 shares of the company’s stock valued at $435,501,000 after purchasing an additional 681,735 shares during the last quarter.

Wall Street Analysts Forecast Growth

Several research firms have commented on ARMK. Morgan Stanley increased their target price on Aramark from $35.00 to $38.00 and gave the company an “equal weight” rating in a research report on Monday, September 9th. Oppenheimer increased their target price on Aramark from $36.00 to $39.00 and gave the company an “outperform” rating in a research report on Wednesday, June 12th. Truist Financial increased their target price on Aramark from $37.00 to $42.00 and gave the company a “buy” rating in a research report on Thursday, September 12th. JPMorgan Chase & Co. increased their target price on Aramark from $39.00 to $41.00 and gave the company an “overweight” rating in a research report on Monday, September 9th. Finally, UBS Group increased their target price on Aramark from $35.00 to $40.00 and gave the company a “buy” rating in a research report on Friday, June 21st. Three research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat, Aramark currently has a consensus rating of “Moderate Buy” and a consensus price target of $37.36.

Aramark Price Performance

Shares of ARMK opened at $38.72 on Tuesday. The company has a market capitalization of $10.18 billion, a price-to-earnings ratio of 16.27 and a beta of 1.62. The business has a 50-day moving average of $35.87 and a 200-day moving average of $33.65. The company has a debt-to-equity ratio of 1.71, a current ratio of 0.96 and a quick ratio of 0.86. Aramark has a 1 year low of $23.95 and a 1 year high of $38.99.

Aramark (NYSE:ARMK) last issued its earnings results on Tuesday, August 6th. The company reported $0.31 earnings per share for the quarter, topping analysts’ consensus estimates of $0.30 by $0.01. The business had revenue of $4.38 billion during the quarter, compared to the consensus estimate of $4.31 billion. Aramark had a return on equity of 14.09% and a net margin of 1.93%. The firm’s revenue for the quarter was up 8.0% on a year-over-year basis. During the same period in the previous year, the company posted $0.36 earnings per share. As a group, equities research analysts anticipate that Aramark will post 1.56 earnings per share for the current year.

Aramark Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Monday, August 19th were issued a $0.095 dividend. The ex-dividend date of this dividend was Monday, August 19th. This represents a $0.38 dividend on an annualized basis and a yield of 0.98%. Aramark’s payout ratio is currently 15.97%.

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.