Tidal Investments LLC Trims Stock Holdings in Aramark (NYSE:ARMK)

Tidal Investments LLC lowered its stake in shares of Aramark (NYSE:ARMK) by 11.9% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 26,666 shares of the company’s stock after selling 3,614 shares during the period. Tidal Investments LLC’s holdings in Aramark were worth $1,033,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in ARMK. Y Intercept Hong Kong Ltd acquired a new stake in Aramark during the third quarter worth approximately $716,000. Geode Capital Management LLC lifted its stake in shares of Aramark by 1.1% during the 3rd quarter. Geode Capital Management LLC now owns 4,363,113 shares of the company’s stock worth $169,028,000 after purchasing an additional 45,384 shares during the period. Blue Trust Inc. boosted its holdings in shares of Aramark by 173.9% during the third quarter. Blue Trust Inc. now owns 5,697 shares of the company’s stock worth $221,000 after purchasing an additional 3,617 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of Aramark by 0.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,732,661 shares of the company’s stock valued at $67,106,000 after purchasing an additional 14,839 shares during the period. Finally, Anthracite Investment Company Inc. acquired a new position in Aramark in the third quarter valued at $3,524,000.

Wall Street Analyst Weigh In

ARMK has been the topic of a number of research analyst reports. 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. The Goldman Sachs Group boosted their target price on shares of Aramark from $38.00 to $41.00 and gave the company a “buy” rating in a report on Wednesday, October 16th. Stifel Nicolaus increased their price target on shares of Aramark from $43.00 to $45.00 and gave the stock a “buy” rating in a research note on Tuesday, November 12th. StockNews.com raised shares of Aramark from a “sell” rating to a “hold” rating in a research note on Tuesday, October 29th. Finally, Truist Financial increased their target price on Aramark from $42.00 to $46.00 and gave the stock a “buy” rating in a research report on Tuesday, November 12th. Three investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $42.59.

Aramark Stock Up 0.2 %

Shares of NYSE ARMK opened at $37.41 on Friday. The stock has a fifty day moving average price of $39.28 and a 200 day moving average price of $36.54. The company has a market cap of $9.91 billion, a P/E ratio of 37.79 and a beta of 1.63. Aramark has a 12-month low of $27.39 and a 12-month high of $42.49. The company has a current ratio of 0.81, a quick ratio of 0.72 and a debt-to-equity ratio of 1.42.

Aramark (NYSE:ARMK) last posted 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 business had revenue of $4.42 billion during the quarter, compared to analyst estimates of $4.46 billion. Aramark had a return on equity of 14.06% and a net margin of 1.51%. The company’s revenue for the quarter was up 5.2% compared to the same quarter last year. During the same quarter last year, the firm earned $0.64 earnings per share. Research analysts anticipate that Aramark will post 1.92 EPS for the current fiscal year.

Aramark Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, December 12th. Stockholders of record on Monday, December 2nd were given a dividend of $0.001 per share. The ex-dividend date was Monday, December 2nd. This represents a $0.00 dividend on an annualized basis and a dividend yield of 0.01%. Aramark’s payout ratio is currently 42.42%.

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.