Aramark (NYSE:ARMK) Shares Sold by UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC reduced its stake in Aramark (NYSE:ARMK) by 10.8% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 576,254 shares of the company’s stock after selling 69,607 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned 0.22% of Aramark worth $22,318,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the stock. Blueshift Asset Management LLC purchased a new position in Aramark in the third quarter valued at approximately $993,000. Glenmede Trust Co. NA increased its stake in Aramark by 2.3% in the third quarter. Glenmede Trust Co. NA now owns 445,265 shares of the company’s stock valued at $17,245,000 after purchasing an additional 10,092 shares during the last quarter. BNP Paribas Financial Markets increased its stake in Aramark by 26.8% in the third quarter. BNP Paribas Financial Markets now owns 366,615 shares of the company’s stock valued at $14,199,000 after purchasing an additional 77,567 shares during the last quarter. Dai ichi Life Insurance Company Ltd increased its stake in Aramark by 277.2% in the third quarter. Dai ichi Life Insurance Company Ltd now owns 196,801 shares of the company’s stock valued at $7,622,000 after purchasing an additional 144,625 shares during the last quarter. Finally, Bank of Montreal Can grew its position in shares of Aramark by 169.4% during the third quarter. Bank of Montreal Can now owns 121,202 shares of the company’s stock worth $4,659,000 after acquiring an additional 76,214 shares during the last quarter.

Aramark Stock Performance

NYSE:ARMK opened at $41.60 on Friday. The firm’s fifty day moving average price is $38.95 and its 200 day moving average price is $36.01. Aramark has a 1-year low of $26.58 and a 1-year high of $42.49. The company has a debt-to-equity ratio of 1.42, a current ratio of 0.81 and a quick ratio of 0.72. The firm has a market cap of $10.98 billion, a price-to-earnings ratio of 42.02 and a beta of 1.63.

Aramark (NYSE:ARMK) last released its earnings results on Monday, November 11th. The company reported $0.54 EPS for the quarter, meeting analysts’ consensus estimates of $0.54. Aramark had a return on equity of 14.06% and a net margin of 1.51%. The company had revenue of $4.42 billion during the quarter, compared to the consensus estimate of $4.46 billion. During the same quarter last year, the company earned $0.64 earnings per share. Aramark’s quarterly revenue was up 5.2% compared to the same quarter last year. On average, sell-side analysts expect that Aramark will post 1.92 EPS for the current year.

Aramark Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Monday, December 2nd will be issued a $0.001 dividend. This represents a $0.00 dividend on an annualized basis and a yield of 0.01%. The ex-dividend date of this dividend is Monday, December 2nd. Aramark’s dividend payout ratio (DPR) is currently 42.42%.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on ARMK shares. JPMorgan Chase & Co. raised their target price on shares of Aramark from $41.00 to $45.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 12th. Stifel Nicolaus raised their target price on shares of Aramark from $43.00 to $45.00 and gave the stock a “buy” rating in a research report on Tuesday, November 12th. The Goldman Sachs Group raised their target price on shares of Aramark from $38.00 to $41.00 and gave the stock a “buy” rating in a research report on Wednesday, October 16th. Morgan Stanley raised their target price on shares of Aramark from $38.00 to $40.00 and gave the stock an “equal weight” rating in a research report on Tuesday, November 12th. Finally, UBS Group raised their target price on shares of Aramark from $40.00 to $44.00 and gave the stock a “buy” rating in a research report on Tuesday, October 8th. Three equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, Aramark currently has an average rating of “Moderate Buy” and a consensus price target 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.