Bank of New York Mellon Corp Sells 264,154 Shares of Aramark (NYSE:ARMK)

Bank of New York Mellon Corp lessened its stake in Aramark (NYSE:ARMK - Free Report) by 9.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 2,659,870 shares of the company's stock after selling 264,154 shares during the quarter. Bank of New York Mellon Corp owned approximately 1.00% of Aramark worth $91,819,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of ARMK. Bessemer Group Inc. boosted its holdings in Aramark by 93.0% in the 4th quarter. Bessemer Group Inc. now owns 770 shares of the company's stock worth $29,000 after buying an additional 371 shares during the period. Jones Financial Companies Lllp boosted its holdings in shares of Aramark by 45.7% in the fourth quarter. Jones Financial Companies Lllp now owns 988 shares of the company's stock worth $37,000 after acquiring an additional 310 shares during the period. Lazard Asset Management LLC purchased a new position in shares of Aramark in the fourth quarter valued at $72,000. Wealthfront Advisers LLC bought a new stake in shares of Aramark during the 4th quarter valued at $83,000. Finally, UMB Bank n.a. lifted its holdings in Aramark by 82.6% during the 1st quarter. UMB Bank n.a. now owns 2,472 shares of the company's stock worth $85,000 after purchasing an additional 1,118 shares in the last quarter.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the company. Wall Street Zen lowered Aramark from a "buy" rating to a "hold" rating in a report on Saturday, June 28th. UBS Group boosted their price objective on shares of Aramark from $40.00 to $44.00 and gave the company a "buy" rating in a research note on Wednesday, May 7th. Morgan Stanley increased their target price on shares of Aramark from $42.00 to $44.00 and gave the stock an "equal weight" rating in a research note on Monday, June 30th. Finally, Royal Bank Of Canada restated an "outperform" rating and set a $47.00 price target on shares of Aramark in a research report on Wednesday, May 14th. Three 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, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $43.91.

Aramark Trading Down 0.3%

ARMK traded down $0.13 during trading on Friday, hitting $43.50. 1,136,824 shares of the stock traded hands, compared to its average volume of 1,992,579. The firm has a market capitalization of $11.40 billion, a P/E ratio of 25.67 and a beta of 1.28. Aramark has a 12-month low of $29.92 and a 12-month high of $44.15. The company has a debt-to-equity ratio of 2.02, a current ratio of 1.21 and a quick ratio of 1.08. The firm has a 50-day moving average of $40.26 and a 200 day moving average of $37.33.

Aramark (NYSE:ARMK - Get Free Report) last posted its earnings results on Tuesday, May 6th. The company reported $0.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.33 by $0.01. The company had revenue of $4.33 billion for the quarter, compared to analysts' expectations of $4.35 billion. Aramark had a return on equity of 15.07% and a net margin of 1.97%. Aramark's quarterly revenue was up 1.9% on a year-over-year basis. During the same period last year, the firm earned $0.30 earnings per share. Equities research analysts anticipate that Aramark will post 1.92 EPS for the current year.

Aramark Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, May 28th. Investors of record on Wednesday, May 14th were given a dividend of $0.105 per share. This represents a $0.42 annualized dividend and a dividend yield of 0.97%. Aramark's dividend payout ratio is currently 32.31%.

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.