Victory Capital Management Inc. Sells 3,970 Shares of Aramark (NYSE:ARMK)

Victory Capital Management Inc. cut its holdings in Aramark (NYSE:ARMK) by 7.3% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 50,728 shares of the company’s stock after selling 3,970 shares during the quarter. Victory Capital Management Inc.’s holdings in Aramark were worth $1,965,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of ARMK. Farallon Capital Management LLC raised its stake in Aramark by 5.5% during the 1st quarter. Farallon Capital Management LLC now owns 17,822,937 shares of the company’s stock worth $579,602,000 after buying an additional 923,683 shares during the period. Dimensional Fund Advisors LP grew its holdings in Aramark by 18.0% during the second quarter. Dimensional Fund Advisors LP now owns 4,731,963 shares of the company’s stock worth $160,977,000 after buying an additional 720,738 shares in the last quarter. Millennium Management LLC grew its stake in shares of Aramark by 822.3% in the 2nd quarter. Millennium Management LLC now owns 1,677,629 shares of the company’s stock worth $57,073,000 after acquiring an additional 1,495,737 shares in the last quarter. iA Global Asset Management Inc. increased its stake in Aramark by 12.9% in the 1st quarter. iA Global Asset Management Inc. now owns 995,279 shares of the company’s stock valued at $32,366,000 after buying an additional 113,354 shares during the last quarter. Finally, Public Employees Retirement Association of Colorado increased its position in shares of Aramark by 13.8% during the second quarter. Public Employees Retirement Association of Colorado now owns 922,212 shares of the company’s stock valued at $31,374,000 after acquiring an additional 112,038 shares during the last quarter.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on ARMK shares. Truist Financial increased their price target on shares of Aramark from $42.00 to $46.00 and gave the company a “buy” rating in a research report on Tuesday, November 12th. The Goldman Sachs Group raised their target price on Aramark from $38.00 to $41.00 and gave the stock a “buy” rating in a research note on Wednesday, October 16th. Morgan Stanley boosted their price target on shares of Aramark from $38.00 to $40.00 and gave the company an “equal weight” rating in a research report on Tuesday, November 12th. Stifel Nicolaus boosted their target price on Aramark from $43.00 to $45.00 and gave the stock a “buy” rating in a research report on Tuesday, November 12th. Finally, Deutsche Bank Aktiengesellschaft raised shares of Aramark from a “hold” rating to a “buy” rating and increased their price target for the stock from $36.00 to $39.00 in a report on Wednesday, August 7th. Three research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $42.23.

Aramark Stock Up 1.1 %

NYSE ARMK opened at $40.86 on Monday. The business’s 50-day moving average is $38.39 and its 200 day moving average is $35.53. The stock has a market capitalization of $10.78 billion, a PE ratio of 41.27 and a beta of 1.62. The company has a debt-to-equity ratio of 1.42, a current ratio of 0.81 and a quick ratio of 0.72. Aramark has a 1 year low of $26.58 and a 1 year high of $42.04.

Aramark (NYSE:ARMK) last posted its earnings results on Monday, November 11th. The company reported $0.54 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.54. The firm had revenue of $4.42 billion for the quarter, compared to analysts’ expectations of $4.46 billion. Aramark had a return on equity of 14.06% and a net margin of 1.51%. The business’s revenue was up 5.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.64 earnings per share. Sell-side analysts forecast that Aramark will post 1.92 earnings per share for the current year.

Aramark Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Monday, December 2nd will be paid a $0.001 dividend. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $0.00 annualized dividend and a yield of 0.01%. Aramark’s payout ratio is 38.38%.

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.