Aramark (NYSE:ARMK) Shares Sold by Sumitomo Mitsui Trust Holdings Inc.

Sumitomo Mitsui Trust Holdings Inc. reduced its position in Aramark (NYSE:ARMK - Free Report) by 85.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 93,542 shares of the company's stock after selling 569,310 shares during the quarter. Sumitomo Mitsui Trust Holdings Inc.'s holdings in Aramark were worth $2,629,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the company. JPMorgan Chase & Co. grew its holdings in shares of Aramark by 60.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 3,969,594 shares of the company's stock valued at $137,745,000 after purchasing an additional 1,492,542 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund grew its holdings in shares of Aramark by 454.2% during the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 798,367 shares of the company's stock valued at $27,703,000 after purchasing an additional 654,300 shares during the last quarter. Invesco Ltd. grew its holdings in shares of Aramark by 82.6% during the 3rd quarter. Invesco Ltd. now owns 961,603 shares of the company's stock valued at $33,368,000 after purchasing an additional 434,842 shares during the last quarter. Schonfeld Strategic Advisors LLC grew its holdings in shares of Aramark by 188.8% during the 3rd quarter. Schonfeld Strategic Advisors LLC now owns 453,565 shares of the company's stock valued at $15,739,000 after purchasing an additional 296,493 shares during the last quarter. Finally, Mirabella Financial Services LLP bought a new stake in shares of Aramark during the 3rd quarter valued at approximately $9,845,000.

Analyst Ratings Changes

A number of research firms have weighed in on ARMK. Truist Financial boosted their target price on shares of Aramark from $35.00 to $37.00 and gave the stock a "buy" rating in a report on Wednesday, March 20th. Royal Bank of Canada restated a "sector perform" rating and issued a $33.00 price target on shares of Aramark in a research report on Wednesday, February 7th. The Goldman Sachs Group assumed coverage on shares of Aramark in a research report on Wednesday, January 17th. They issued a "buy" rating and a $33.00 price target on the stock. Finally, Morgan Stanley boosted their price target on shares of Aramark from $28.00 to $30.00 and gave the stock an "equal weight" rating in a research report on Wednesday, February 7th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $33.04.

Aramark Stock Down 0.7 %

ARMK stock traded down $0.21 during midday trading on Thursday, reaching $32.34. 1,153,854 shares of the company's stock traded hands, compared to its average volume of 2,452,786. The company has a market cap of $8.49 billion, a price-to-earnings ratio of 13.62, a P/E/G ratio of 1.29 and a beta of 1.48. The firm's fifty day moving average price is $31.50 and its 200-day moving average price is $29.17. The company has a quick ratio of 1.12, a current ratio of 1.27 and a debt-to-equity ratio of 2.08. Aramark has a 52 week low of $23.95 and a 52 week high of $33.04.

Aramark (NYSE:ARMK - Get Free Report) last posted its earnings results on Tuesday, February 6th. The company reported $0.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.36 by $0.05. Aramark had a net margin of 3.37% and a return on equity of 13.45%. The firm had revenue of $4.41 billion during the quarter, compared to analyst estimates of $4.29 billion. During the same quarter in the prior year, the business posted $0.41 EPS. The business's revenue was up 12.6% compared to the same quarter last year. As a group, sell-side analysts forecast that Aramark will post 1.56 earnings per share for the current fiscal year.

Aramark Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, February 28th. Stockholders of record on Wednesday, February 14th were paid a $0.095 dividend. The ex-dividend date was Tuesday, February 13th. This represents a $0.38 annualized dividend and a dividend yield of 1.18%. Aramark's payout ratio is 15.90%.

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.