Glenmede Trust Co. NA Increases Holdings in Aramark (NYSE:ARMK)

Glenmede Trust Co. NA increased its stake in shares of Aramark (NYSE:ARMK) by 2.3% during the third quarter, according to its most recent filing with the SEC. The institutional investor owned 445,265 shares of the company’s stock after purchasing an additional 10,092 shares during the period. Glenmede Trust Co. NA’s holdings in Aramark were worth $17,245,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in ARMK. CIBC Asset Management Inc grew its position in Aramark by 3.6% during the third quarter. CIBC Asset Management Inc now owns 7,621 shares of the company’s stock worth $295,000 after buying an additional 265 shares in the last quarter. Bradley Foster & Sargent Inc. CT increased its stake in Aramark by 0.4% in the second quarter. Bradley Foster & Sargent Inc. CT now owns 69,987 shares of the company’s stock valued at $2,381,000 after acquiring an additional 310 shares during the last quarter. Huntington National Bank raised its position in Aramark by 100.3% during the third 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 lifted its stake in Aramark by 4.7% during the third quarter. Cadent Capital Advisors LLC now owns 7,711 shares of the company’s stock worth $299,000 after purchasing an additional 349 shares during the last quarter. Finally, UMB Bank n.a. boosted its holdings in shares of Aramark by 360.1% in the 3rd quarter. UMB Bank n.a. now owns 773 shares of the company’s stock worth $30,000 after purchasing an additional 605 shares in the last quarter.

Aramark Stock Down 3.4 %

Shares of NYSE:ARMK opened at $40.77 on Friday. The stock’s 50-day moving average is $38.62 and its 200 day moving average is $35.76. The company has a market cap of $10.76 billion, a PE ratio of 41.18 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 $42.49.

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

Aramark Cuts Dividend

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

Wall Street Analyst Weigh In

Several brokerages have issued reports on ARMK. Deutsche Bank Aktiengesellschaft raised Aramark from a “hold” rating to a “buy” rating and upped their target price for the stock from $36.00 to $39.00 in a research note on Wednesday, August 7th. Morgan Stanley upped their price objective on shares of Aramark from $38.00 to $40.00 and gave the company an “equal weight” rating in a research note on Tuesday, November 12th. Stifel Nicolaus lifted their target price on shares of Aramark from $43.00 to $45.00 and gave the stock a “buy” rating in a research report on Tuesday, November 12th. 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 research report on Tuesday, September 17th. Finally, Truist Financial boosted their target price on Aramark from $42.00 to $46.00 and gave the company a “buy” rating in a research note on Tuesday, November 12th. Three analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $42.23.

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.