Oppenheimer Asset Management Inc. Has $454,000 Holdings in Aramark (NYSE:ARMK)

Oppenheimer Asset Management Inc. lifted its stake in Aramark (NYSE:ARMK) by 25.8% in the third quarter, Holdings Channel.com reports. The firm owned 11,733 shares of the company’s stock after acquiring an additional 2,406 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Aramark were worth $454,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Millennium Management LLC grew its holdings in Aramark by 822.3% during the second quarter. Millennium Management LLC now owns 1,677,629 shares of the company’s stock valued at $57,073,000 after purchasing an additional 1,495,737 shares during the last quarter. Farallon Capital Management LLC lifted its position in shares of Aramark by 5.5% during the 1st quarter. Farallon Capital Management LLC now owns 17,822,937 shares of the company’s stock worth $579,602,000 after purchasing an additional 923,683 shares during the last quarter. Dimensional Fund Advisors LP increased its position in 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 acquiring an additional 720,738 shares during the period. Janus Henderson Group PLC grew its position in 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 buying an additional 681,735 shares in the last quarter. Finally, Kingdon Capital Management L.L.C. bought a new position in Aramark in the first quarter worth $13,008,000.

Analysts Set New Price Targets

A number of equities analysts have commented on the company. Deutsche Bank Aktiengesellschaft raised Aramark from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $36.00 to $39.00 in a research note on Wednesday, August 7th. UBS Group upped their price target 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. The Goldman Sachs Group increased their price objective on shares of Aramark from $38.00 to $41.00 and gave the stock a “buy” rating in a report on Wednesday, October 16th. Bank of America increased their price objective on Aramark from $36.00 to $39.00 and gave the company a “buy” rating in a research report on Wednesday, August 7th. Finally, JPMorgan Chase & Co. increased their price target on Aramark from $41.00 to $45.00 and gave the company an “overweight” 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 data from MarketBeat, Aramark presently has an average rating of “Moderate Buy” and a consensus price target of $42.23.

Aramark Stock Performance

ARMK opened at $37.70 on Wednesday. Aramark has a 1 year low of $26.58 and a 1 year high of $42.04. 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 business’s 50-day moving average price is $38.27 and its two-hundred day moving average price is $35.33. The company has a market capitalization of $9.93 billion, a price-to-earnings ratio of 38.08 and a beta of 1.62.

Aramark (NYSE:ARMK) last announced its quarterly earnings data on Monday, November 11th. The company reported $0.54 EPS for the quarter, hitting analysts’ consensus estimates of $0.54. Aramark had a net margin of 1.51% and a return on equity of 14.06%. The business had revenue of $4.42 billion for the quarter, compared to analyst estimates of $4.46 billion. During the same quarter in the previous year, the firm posted $0.64 earnings per share. The firm’s revenue for the quarter was up 5.2% on a year-over-year basis. Equities analysts expect that Aramark will post 1.92 EPS for the current fiscal year.

Aramark Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Monday, December 2nd will be paid a $0.001 dividend. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $0.00 annualized dividend and a dividend yield of 0.01%. Aramark’s dividend payout ratio is presently 38.38%.

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.