Aramark (NYSE:ARMK) is Sasco Capital Inc. CT’s 4th Largest Position

Sasco Capital Inc. CT trimmed its holdings in Aramark (NYSE:ARMK) by 22.2% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 664,970 shares of the company’s stock after selling 189,720 shares during the quarter. Aramark accounts for approximately 3.9% of Sasco Capital Inc. CT’s investment portfolio, making the stock its 4th biggest holding. Sasco Capital Inc. CT owned 0.25% of Aramark worth $25,754,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Capital International Investors grew its position in Aramark by 0.4% during the first quarter. Capital International Investors now owns 23,712,814 shares of the company’s stock valued at $771,141,000 after buying an additional 98,506 shares during the period. Farallon Capital Management LLC grew 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 valued at $579,602,000 after acquiring an additional 923,683 shares during the period. Janus Henderson Group PLC increased its stake in shares of Aramark by 5.4% in the 1st 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 in the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Aramark by 18.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 4,731,963 shares of the company’s stock valued at $160,977,000 after purchasing an additional 720,738 shares in the last quarter. Finally, Millennium Management LLC raised its holdings in Aramark by 822.3% in the 2nd quarter. Millennium Management LLC now owns 1,677,629 shares of the company’s stock worth $57,073,000 after purchasing an additional 1,495,737 shares during the period.

Aramark Trading Down 0.3 %

ARMK opened at $37.23 on Tuesday. The firm has a market capitalization of $9.81 billion, a price-to-earnings ratio of 37.61 and a beta of 1.62. The company’s 50 day simple moving average is $38.28 and its two-hundred day simple moving average is $35.29. 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.

Aramark (NYSE:ARMK) last released its quarterly earnings data on Monday, November 11th. The company reported $0.54 earnings per share for the quarter, hitting 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 for the quarter, compared to analyst estimates of $4.46 billion. During the same quarter in the previous year, the company posted $0.64 earnings per share. The firm’s revenue for the quarter was up 5.2% compared to the same quarter last year. Analysts expect that Aramark will post 1.92 EPS 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 given a dividend of $0.001 per share. This represents a $0.00 annualized dividend and a yield of 0.01%. The ex-dividend date is Monday, December 2nd. Aramark’s payout ratio is currently 38.38%.

Analysts Set New Price Targets

A number of analysts have recently commented on ARMK shares. Morgan Stanley boosted their price objective on Aramark from $38.00 to $40.00 and gave the company an “equal weight” rating in a research report on Tuesday, November 12th. Bank of America boosted their price target on shares of Aramark from $36.00 to $39.00 and gave the stock a “buy” rating in a report on Wednesday, August 7th. StockNews.com raised shares of Aramark from a “sell” rating to a “hold” rating in a report on Tuesday, October 29th. Stifel Nicolaus upped their price target 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. Finally, UBS Group lifted their price objective on Aramark from $40.00 to $44.00 and gave the stock a “buy” rating in a report on Tuesday, October 8th. Three investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $42.23.

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.