Natixis Advisors LLC Reduces Stock Position in Aramark (NYSE:ARMK)

Natixis Advisors LLC cut its holdings in Aramark (NYSE:ARMK) by 18.1% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 111,136 shares of the company’s stock after selling 24,496 shares during the period. Natixis Advisors LLC’s holdings in Aramark were worth $4,304,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Millennium Management LLC boosted its holdings in shares of Aramark by 822.3% in the 2nd quarter. Millennium Management LLC now owns 1,677,629 shares of the company’s stock valued at $57,073,000 after buying an additional 1,495,737 shares in the last quarter. 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 acquiring an additional 923,683 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Aramark by 18.0% during the second quarter. Dimensional Fund Advisors LP now owns 4,731,963 shares of the company’s stock worth $160,977,000 after purchasing an additional 720,738 shares during the last quarter. Janus Henderson Group PLC increased its position in shares of Aramark by 5.4% during the first 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 in the last quarter. Finally, Kingdon Capital Management L.L.C. purchased a new stake in shares of Aramark in the 1st quarter valued at about $13,008,000.

Aramark Stock Performance

Shares of ARMK opened at $40.86 on Friday. The company has a quick ratio of 0.72, a current ratio of 0.81 and a debt-to-equity ratio of 1.42. Aramark has a 52-week low of $26.58 and a 52-week high of $42.04. The company has a 50-day simple moving average of $38.39 and a 200-day simple moving average of $35.50. The company has a market capitalization of $10.78 billion, a PE ratio of 41.27 and a beta of 1.62.

Aramark (NYSE:ARMK) last issued its earnings results on Monday, November 11th. The company reported $0.54 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.54. The company had revenue of $4.42 billion during the quarter, compared to analysts’ expectations of $4.46 billion. Aramark had a net margin of 1.51% and a return on equity of 14.06%. The firm’s quarterly revenue was up 5.2% compared to the same quarter last year. During the same period last year, the company posted $0.64 earnings per share. Equities research analysts predict that Aramark will post 1.92 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. Investors of record on Monday, December 2nd will be issued a dividend of $0.001 per share. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $0.00 annualized dividend and a yield of 0.01%. Aramark’s dividend payout ratio is presently 38.38%.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on ARMK. JPMorgan Chase & Co. raised their price target on Aramark from $41.00 to $45.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 12th. Bank of America upped their price target on shares of Aramark from $36.00 to $39.00 and gave the company a “buy” rating in a research report on Wednesday, August 7th. Truist Financial increased their price target on shares of Aramark from $42.00 to $46.00 and gave the stock a “buy” rating in a research note on Tuesday, November 12th. Deutsche Bank Aktiengesellschaft upgraded Aramark from a “hold” rating to a “buy” rating and lifted their target price for the company from $36.00 to $39.00 in a research note on Wednesday, August 7th. Finally, Robert W. Baird boosted their price objective on shares of Aramark from $38.00 to $44.00 and gave the company a “neutral” rating in a research note on Tuesday, November 12th. Three analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $42.23.

About Aramark

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.