Exchange Traded Concepts LLC Sells 1,252 Shares of Aramark (NYSE:ARMK)

Exchange Traded Concepts LLC lowered its holdings in shares of Aramark (NYSE:ARMK) by 5.9% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 19,895 shares of the company’s stock after selling 1,252 shares during the period. Exchange Traded Concepts LLC’s holdings in Aramark were worth $771,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. UMB Bank n.a. boosted its stake in Aramark by 360.1% during the third quarter. UMB Bank n.a. now owns 773 shares of the company’s stock worth $30,000 after acquiring an additional 605 shares in the last quarter. Rise Advisors LLC purchased a new position in Aramark in the first quarter worth about $25,000. Twin Tree Management LP raised its holdings in Aramark by 32.0% in the first quarter. Twin Tree Management LP now owns 1,424 shares of the company’s stock worth $46,000 after buying an additional 345 shares during the last quarter. GAMMA Investing LLC raised its holdings in Aramark by 319.3% in the second quarter. GAMMA Investing LLC now owns 1,677 shares of the company’s stock worth $57,000 after buying an additional 1,277 shares during the last quarter. Finally, Versant Capital Management Inc raised its holdings in Aramark by 44,750.0% in the second quarter. Versant Capital Management Inc now owns 1,794 shares of the company’s stock worth $61,000 after buying an additional 1,790 shares during the last quarter.

Aramark Stock Performance

ARMK opened at $39.67 on Friday. The firm has a market cap of $10.43 billion, a P/E ratio of 16.67 and a beta of 1.62. Aramark has a 1-year low of $25.92 and a 1-year high of $39.87. The company has a 50 day simple moving average of $37.28 and a two-hundred day simple moving average of $34.33. The company has a debt-to-equity ratio of 1.71, a current ratio of 0.96 and a quick ratio of 0.86.

Aramark (NYSE:ARMK) last issued its earnings results on Tuesday, August 6th. The company reported $0.31 earnings per share for the quarter, topping analysts’ consensus estimates of $0.30 by $0.01. Aramark had a net margin of 1.93% and a return on equity of 14.09%. The firm had revenue of $4.38 billion during the quarter, compared to analyst estimates of $4.31 billion. During the same quarter in the prior year, the business earned $0.36 earnings per share. Aramark’s revenue for the quarter was up 8.0% on a year-over-year basis. Equities analysts forecast that Aramark will post 1.55 earnings per share for the current fiscal year.

Aramark Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Monday, August 19th were given a dividend of $0.095 per share. The ex-dividend date was Monday, August 19th. This represents a $0.38 dividend on an annualized basis and a dividend yield of 0.96%. Aramark’s dividend payout ratio is 15.97%.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on ARMK shares. Royal Bank of Canada raised shares of Aramark from a “sector perform” rating to an “outperform” rating and boosted their price objective for the company from $36.00 to $42.50 in a report on Tuesday, September 17th. Robert W. Baird boosted their price objective on shares of Aramark from $37.00 to $38.00 and gave the company a “neutral” rating in a report on Wednesday, August 7th. StockNews.com cut shares of Aramark from a “hold” rating to a “sell” rating in a report on Tuesday, October 8th. 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 report on Tuesday, October 8th. Finally, Truist Financial boosted their price objective on shares of Aramark from $37.00 to $42.00 and gave the company a “buy” rating in a report on Thursday, September 12th. One analyst has rated the stock with a sell rating, two have issued a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, Aramark presently has a consensus rating of “Moderate Buy” and an average target price of $39.68.

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.