Stifel Financial Corp Sells 10,666 Shares of Aramark (NYSE:ARMK)

Stifel Financial Corp cut its position in Aramark (NYSE:ARMK) by 15.2% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 59,622 shares of the company’s stock after selling 10,666 shares during the period. Stifel Financial Corp’s holdings in Aramark were worth $2,309,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. CIBC Asset Management Inc raised its stake in Aramark by 3.6% during the 3rd quarter. CIBC Asset Management Inc now owns 7,621 shares of the company’s stock worth $295,000 after buying an additional 265 shares during the period. Bradley Foster & Sargent Inc. CT raised its position in shares of Aramark by 0.4% during the second quarter. Bradley Foster & Sargent Inc. CT now owns 69,987 shares of the company’s stock worth $2,381,000 after purchasing an additional 310 shares during the period. Huntington National Bank lifted its holdings in shares of Aramark by 100.3% during the 3rd quarter. Huntington National Bank now owns 681 shares of the company’s stock valued at $26,000 after purchasing an additional 341 shares in the last quarter. Cadent Capital Advisors LLC grew its position in shares of Aramark by 4.7% in the 3rd quarter. Cadent Capital Advisors LLC now owns 7,711 shares of the company’s stock valued at $299,000 after purchasing an additional 349 shares during the period. Finally, HighTower Advisors LLC increased its stake in Aramark by 2.5% during the 3rd quarter. HighTower Advisors LLC now owns 16,504 shares of the company’s stock worth $643,000 after purchasing an additional 395 shares in the last quarter.

Aramark Trading Down 3.7 %

Shares of Aramark stock opened at $37.35 on Thursday. Aramark has a 12-month low of $27.39 and a 12-month high of $42.49. The company has a quick ratio of 0.72, a current ratio of 0.81 and a debt-to-equity ratio of 1.42. The business’s 50 day moving average is $39.29 and its 200-day moving average is $36.53. The stock has a market cap of $9.86 billion, a P/E ratio of 37.73 and a beta of 1.63.

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

Aramark Cuts Dividend

The firm 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. This represents a $0.00 dividend on an annualized basis and a yield of 0.01%. The ex-dividend date of this dividend was Monday, December 2nd. Aramark’s dividend payout ratio (DPR) is presently 42.42%.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. Royal Bank of Canada upgraded shares of Aramark from a “sector perform” rating to an “outperform” rating and upped their price target for the company from $36.00 to $42.50 in a report on Tuesday, September 17th. 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 research note on Thursday, December 12th. Stifel Nicolaus lifted their price target on Aramark from $43.00 to $45.00 and gave the company a “buy” rating in a research note on Tuesday, November 12th. StockNews.com raised Aramark from a “sell” rating to a “hold” rating in a research report on Tuesday, October 29th. Finally, Robert W. Baird lifted their target price on Aramark from $44.00 to $45.00 and gave the company a “neutral” rating in a research report on Thursday, December 12th. Three equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average 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.