Rockefeller Capital Management L.P. Raises Stake in Aramark (NYSE:ARMK)

Rockefeller Capital Management L.P. increased its stake in Aramark (NYSE:ARMK) by 5.4% during the third quarter, according to its most recent filing with the SEC. The fund owned 45,702 shares of the company’s stock after buying an additional 2,329 shares during the quarter. Rockefeller Capital Management L.P.’s holdings in Aramark were worth $1,770,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in ARMK. Blueshift Asset Management LLC bought a new stake in Aramark in the 3rd quarter valued at about $993,000. Glenmede Trust Co. NA raised its stake in Aramark by 2.3% in the 3rd quarter. Glenmede Trust Co. NA now owns 445,265 shares of the company’s stock valued at $17,245,000 after acquiring an additional 10,092 shares during the period. BNP Paribas Financial Markets raised its stake in Aramark by 26.8% in the 3rd quarter. BNP Paribas Financial Markets now owns 366,615 shares of the company’s stock valued at $14,199,000 after acquiring an additional 77,567 shares during the period. Dai ichi Life Insurance Company Ltd raised its stake in Aramark by 277.2% in the 3rd quarter. Dai ichi Life Insurance Company Ltd now owns 196,801 shares of the company’s stock valued at $7,622,000 after acquiring an additional 144,625 shares during the period. Finally, Bank of Montreal Can raised its stake in Aramark by 169.4% in the 3rd quarter. Bank of Montreal Can now owns 121,202 shares of the company’s stock valued at $4,659,000 after acquiring an additional 76,214 shares during the period.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on ARMK. The Goldman Sachs Group boosted their price objective on Aramark from $38.00 to $41.00 and gave the company a “buy” rating in a research note on Wednesday, October 16th. Royal Bank of Canada upgraded Aramark from a “sector perform” rating to an “outperform” rating and upped 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 research report on Tuesday, October 29th. Robert W. Baird upped their price target on Aramark from $38.00 to $44.00 and gave the company a “neutral” rating in a research report on Tuesday, November 12th. Finally, Stifel Nicolaus upped their price target on Aramark from $43.00 to $45.00 and gave the company a “buy” rating in a research report on Tuesday, November 12th. Three research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $42.23.

Aramark Stock Up 0.0 %

Shares of ARMK opened at $41.61 on Friday. The company has a debt-to-equity ratio of 1.42, a current ratio of 0.81 and a quick ratio of 0.72. Aramark has a 1 year low of $26.58 and a 1 year high of $42.49. The firm has a market cap of $10.98 billion, a P/E ratio of 42.03 and a beta of 1.63. The stock has a 50 day simple moving average of $39.01 and a two-hundred day simple moving average of $36.10.

Aramark (NYSE:ARMK) last released its quarterly earnings data on Monday, November 11th. The company reported $0.54 EPS for the quarter, meeting the consensus estimate 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 for the quarter, compared to analysts’ expectations of $4.46 billion. During the same period last year, the firm posted $0.64 earnings per share. Aramark’s revenue was up 5.2% compared to the same quarter last year. On average, analysts forecast that Aramark will post 1.92 earnings per share for the current fiscal year.

Aramark Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Monday, December 2nd will be given a $0.001 dividend. 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 payout ratio is 42.42%.

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.