Aramark (NYSE:ARMK) Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp trimmed its holdings in shares of Aramark (NYSE:ARMK - Free Report) by 9.0% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor 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 1.00% of Aramark worth $91,819,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Bessemer Group Inc. grew its stake 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 acquiring an additional 371 shares in the last quarter. Jones Financial Companies Lllp lifted its position in Aramark by 45.7% during the fourth quarter. Jones Financial Companies Lllp now owns 988 shares of the company's stock valued at $37,000 after acquiring an additional 310 shares during the last quarter. Lazard Asset Management LLC purchased a new stake in Aramark during the fourth quarter valued at approximately $72,000. Wealthfront Advisers LLC purchased a new stake in Aramark during the fourth quarter valued at approximately $83,000. Finally, UMB Bank n.a. lifted its position in Aramark by 82.6% during the first quarter. UMB Bank n.a. now owns 2,472 shares of the company's stock valued at $85,000 after acquiring an additional 1,118 shares during the last quarter.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the stock. UBS Group increased their target price on shares of Aramark from $40.00 to $44.00 and gave the company a "buy" rating in a research report on Wednesday, May 7th. Royal Bank Of Canada reaffirmed an "outperform" rating and issued a $47.00 price target on shares of Aramark in a report on Wednesday, May 14th. Wall Street Zen cut shares of Aramark from a "buy" rating to a "hold" rating in a report on Saturday, June 28th. Finally, Morgan Stanley raised their price target on shares of Aramark from $42.00 to $44.00 and gave the stock an "equal weight" rating in a report on Monday, June 30th. Three equities 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 Stock Performance

ARMK stock traded up $0.11 during midday trading on Monday, hitting $43.63. 1,417,401 shares of the stock traded hands, compared to its average volume of 2,013,125. The firm has a market cap of $11.43 billion, a P/E ratio of 33.56 and a beta of 1.28. 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 stock's fifty day simple moving average is $40.26 and its 200-day simple moving average is $37.33. Aramark has a 1-year low of $29.92 and a 1-year high of $44.01.

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

Aramark Announces Dividend

The company 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 yield of 0.96%. Aramark's dividend payout ratio is presently 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.