Aramark (NYSE:ARMK) Shares Sold by Millennium Management LLC

Millennium Management LLC reduced its holdings in Aramark (NYSE:ARMK - Free Report) by 75.5% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 589,248 shares of the company's stock after selling 1,812,091 shares during the quarter. Millennium Management LLC owned approximately 0.22% of Aramark worth $21,985,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Vanguard Group Inc. increased its holdings in shares of Aramark by 0.7% in the 4th quarter. Vanguard Group Inc. now owns 25,497,580 shares of the company's stock worth $951,315,000 after acquiring an additional 178,147 shares during the period. Janus Henderson Group PLC raised its stake in Aramark by 3.5% during the 4th quarter. Janus Henderson Group PLC now owns 16,268,682 shares of the company's stock valued at $606,986,000 after acquiring an additional 554,239 shares in the last quarter. Massachusetts Financial Services Co. MA grew its stake in shares of Aramark by 63.2% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 13,593,734 shares of the company's stock worth $507,182,000 after purchasing an additional 5,263,817 shares in the last quarter. Fiduciary Management Inc. WI increased its holdings in shares of Aramark by 8.1% during the fourth quarter. Fiduciary Management Inc. WI now owns 11,454,740 shares of the company's stock valued at $427,376,000 after purchasing an additional 860,179 shares during the period. Finally, Franklin Resources Inc. raised its stake in shares of Aramark by 29.5% during the fourth quarter. Franklin Resources Inc. now owns 8,511,152 shares of the company's stock valued at $317,551,000 after purchasing an additional 1,940,214 shares in the last quarter.

Aramark Price Performance

Shares of NYSE ARMK opened at $39.77 on Wednesday. The company has a quick ratio of 0.84, a current ratio of 0.94 and a debt-to-equity ratio of 1.61. The company has a market capitalization of $10.42 billion, a PE ratio of 31.31 and a beta of 1.20. The firm has a fifty day simple moving average of $34.57 and a 200 day simple moving average of $36.95. Aramark has a twelve month low of $29.92 and a twelve month high of $42.49.

Aramark (NYSE:ARMK - Get Free Report) last posted its quarterly earnings results on Tuesday, May 6th. The company reported $0.34 EPS for the quarter, topping analysts' consensus estimates of $0.33 by $0.01. The business had revenue of $4.33 billion during the quarter, compared to analysts' expectations of $4.35 billion. Aramark had a net margin of 1.94% and a return on equity of 14.72%. The business's quarterly revenue was up 1.9% on a year-over-year basis. During the same period last year, the company posted $0.30 earnings per share. On average, sell-side analysts forecast that Aramark will post 1.92 EPS for the current year.

Aramark Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 28th. Investors of record on Wednesday, May 14th will be issued a dividend of $0.105 per share. This represents a $0.42 annualized dividend and a yield of 1.06%. Aramark's dividend payout ratio (DPR) is currently 32.31%.

Wall Street Analysts Forecast Growth

ARMK has been the topic of several research reports. Morgan Stanley boosted their price target on shares of Aramark from $40.00 to $42.00 and gave the stock an "equal weight" rating in a research report on Wednesday, May 7th. UBS Group lifted their target price on shares of Aramark from $40.00 to $44.00 and gave the stock a "buy" rating in a research report on Wednesday, May 7th. Royal Bank of Canada reissued an "outperform" rating and issued a $47.00 price target on shares of Aramark in a research report on Wednesday, May 14th. Finally, Citigroup began coverage on Aramark in a report on Monday, February 24th. They set a "buy" rating and a $48.00 price objective for the company. Three analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $43.33.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.