JPMorgan Chase & Co. Decreases Stock Holdings in Aramark (NYSE:ARMK)

JPMorgan Chase & Co. lowered its stake in shares of Aramark (NYSE:ARMK) by 8.7% during the 3rd quarter, according to its most recent filing with the SEC. The firm owned 1,201,539 shares of the company’s stock after selling 114,670 shares during the period. JPMorgan Chase & Co. owned approximately 0.45% of Aramark worth $46,536,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in ARMK. Y Intercept Hong Kong Ltd purchased a new stake in shares of Aramark in the 3rd quarter worth $716,000. Franklin Resources Inc. grew its holdings in Aramark by 7.2% during the third quarter. Franklin Resources Inc. now owns 6,570,938 shares of the company’s stock valued at $254,427,000 after purchasing an additional 441,711 shares during the period. Geode Capital Management LLC increased its position in Aramark by 1.1% in the third quarter. Geode Capital Management LLC now owns 4,363,113 shares of the company’s stock worth $169,028,000 after buying an additional 45,384 shares in the last quarter. Blue Trust Inc. raised its stake in shares of Aramark by 173.9% in the third quarter. Blue Trust Inc. now owns 5,697 shares of the company’s stock worth $221,000 after buying an additional 3,617 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its position in shares of Aramark by 0.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,732,661 shares of the company’s stock valued at $67,106,000 after buying an additional 14,839 shares in the last quarter.

Aramark Price Performance

Shares of ARMK stock opened at $37.13 on Monday. The stock has a market capitalization of $9.84 billion, a price-to-earnings ratio of 37.51 and a beta of 1.64. The company has a current ratio of 0.81, a quick ratio of 0.72 and a debt-to-equity ratio of 1.42. Aramark has a twelve month low of $27.61 and a twelve month high of $42.49. The stock has a fifty day simple moving average of $38.98 and a two-hundred day simple moving average of $36.90.

Aramark (NYSE:ARMK) last issued its quarterly earnings data on Monday, November 11th. The company reported $0.54 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.54. Aramark had a return on equity of 14.06% and a net margin of 1.51%. The firm had revenue of $4.42 billion during the quarter, compared to analysts’ expectations of $4.46 billion. During the same period in the prior year, the business posted $0.64 EPS. The firm’s quarterly revenue was up 5.2% on a year-over-year basis. On average, analysts predict that Aramark will post 1.92 EPS for the current fiscal year.

Aramark Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, December 12th. Shareholders of record on Monday, December 2nd were given a dividend of $0.001 per share. The ex-dividend date was Monday, December 2nd. This represents a $0.00 dividend on an annualized basis and a yield of 0.01%. Aramark’s dividend payout ratio is currently 42.42%.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on ARMK shares. Robert W. Baird lifted their price target on shares of Aramark from $44.00 to $45.00 and gave the company a “neutral” rating in a report on Thursday, December 12th. Morgan Stanley upped their target price on shares of Aramark from $40.00 to $43.00 and gave the stock an “equal weight” rating in a report on Thursday, December 12th. UBS Group raised their price target on Aramark from $40.00 to $44.00 and gave the company a “buy” rating in a report on Tuesday, October 8th. Truist Financial boosted their price objective on Aramark from $42.00 to $46.00 and gave the company a “buy” rating in a research report on Tuesday, November 12th. Finally, The Goldman Sachs Group lifted their target price on Aramark from $38.00 to $41.00 and gave the company a “buy” rating in a research note on Wednesday, October 16th. Two analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $42.59.

About Aramark

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.