Farallon Capital Management LLC Trims Stake in Aramark (NYSE:ARMK)

Farallon Capital Management LLC decreased its holdings in shares of Aramark (NYSE:ARMK) by 5.0% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 16,929,237 shares of the company’s stock after selling 893,700 shares during the period. Aramark comprises about 2.7% of Farallon Capital Management LLC’s portfolio, making the stock its 5th largest holding. Farallon Capital Management LLC owned approximately 6.44% of Aramark worth $575,933,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the business. Norges Bank acquired a new stake in shares of Aramark during the 4th quarter worth approximately $68,309,000. Hsbc Holdings PLC lifted its stake in Aramark by 28.4% in the fourth quarter. Hsbc Holdings PLC now owns 534,448 shares of the company’s stock valued at $14,973,000 after buying an additional 118,178 shares during the last quarter. Artisan Partners Limited Partnership grew its position in shares of Aramark by 9.3% during the fourth quarter. Artisan Partners Limited Partnership now owns 391,727 shares of the company’s stock worth $11,008,000 after acquiring an additional 33,206 shares during the last quarter. United Services Automobile Association increased its holdings in shares of Aramark by 16.1% in the 4th quarter. United Services Automobile Association now owns 20,775 shares of the company’s stock worth $584,000 after acquiring an additional 2,876 shares during the period. Finally, TFO Wealth Partners LLC boosted its stake in Aramark by 62,280.0% during the 4th quarter. TFO Wealth Partners LLC now owns 3,119 shares of the company’s stock valued at $88,000 after purchasing an additional 3,114 shares during the period.

Analysts Set New Price Targets

ARMK has been the topic of a number of recent analyst reports. Morgan Stanley lifted their price target on Aramark from $35.00 to $38.00 and gave the company an “equal weight” rating in a report on Monday, September 9th. StockNews.com raised Aramark from a “sell” rating to a “hold” rating in a research note on Saturday. JPMorgan Chase & Co. increased their price target on Aramark from $39.00 to $41.00 and gave the stock an “overweight” rating in a research note on Monday, September 9th. Robert W. Baird lifted their price objective on shares of Aramark from $37.00 to $38.00 and gave the company a “neutral” rating in a research note on Wednesday, August 7th. Finally, Deutsche Bank Aktiengesellschaft raised shares of Aramark from a “hold” rating to a “buy” rating and upped their price objective for the stock from $36.00 to $39.00 in a report on Wednesday, August 7th. Three investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $37.36.

Aramark Price Performance

NYSE ARMK opened at $36.95 on Tuesday. The company has a current ratio of 0.96, a quick ratio of 0.86 and a debt-to-equity ratio of 1.71. Aramark has a 1 year low of $23.95 and a 1 year high of $38.99. The company has a market cap of $9.72 billion, a PE ratio of 15.53, a PEG ratio of 2.04 and a beta of 1.62. The stock’s 50-day moving average price is $35.50 and its two-hundred day moving average price is $33.49.

Aramark (NYSE:ARMK) last released its quarterly earnings results on Tuesday, August 6th. The company reported $0.31 earnings per share (EPS) for the quarter, beating 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 business had revenue of $4.38 billion for the quarter, compared to analyst estimates of $4.31 billion. During the same quarter in the previous year, the business earned $0.36 earnings per share. The firm’s revenue was up 8.0% compared to the same quarter last year. On average, analysts predict that Aramark will post 1.57 EPS for the current year.

Aramark Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Monday, August 19th were given a $0.095 dividend. The ex-dividend date was Monday, August 19th. This represents a $0.38 annualized dividend and a dividend yield of 1.03%. Aramark’s dividend payout ratio (DPR) is presently 15.97%.

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.