Edgestream Partners L.P. Acquires Shares of 25,049 Aramark (NYSE:ARMK)

Edgestream Partners L.P. acquired a new stake in shares of Aramark (NYSE:ARMK) in the 3rd quarter, Holdings Channel.com reports. The fund acquired 25,049 shares of the company’s stock, valued at approximately $970,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Huntington National Bank boosted 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 during the last quarter. Capital Performance Advisors LLP bought a new position in shares of Aramark in the 3rd quarter valued at about $28,000. UMB Bank n.a. lifted 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 valued at $30,000 after acquiring an additional 605 shares during the last quarter. Friedenthal Financial bought a new position in shares of Aramark in the 3rd quarter valued at about $52,000. Finally, GAMMA Investing LLC lifted its holdings in shares of Aramark by 319.3% in the 2nd quarter. GAMMA Investing LLC now owns 1,677 shares of the company’s stock valued at $57,000 after acquiring an additional 1,277 shares during the last quarter.

Wall Street Analyst Weigh In

A number of research analysts recently commented on ARMK shares. UBS Group increased their price target on shares of Aramark from $40.00 to $44.00 and gave the company a “buy” rating in a report on Tuesday, October 8th. 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 report on Tuesday, November 12th. The Goldman Sachs Group increased their price target on shares of Aramark from $38.00 to $41.00 and gave the company a “buy” rating in a report on Wednesday, October 16th. StockNews.com raised shares of Aramark from a “sell” rating to a “hold” rating in a report on Tuesday, October 29th. Finally, Morgan Stanley raised their price objective on shares of Aramark from $38.00 to $40.00 and gave the stock an “equal weight” rating in a research note on Tuesday, November 12th. Three equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $42.23.

Aramark Stock Performance

Shares of NYSE:ARMK opened at $41.00 on Thursday. The firm has a market cap of $10.82 billion, a PE ratio of 41.41 and a beta of 1.63. The firm’s 50 day simple moving average is $38.88 and its 200-day simple moving average is $35.98. Aramark has a one year low of $26.58 and a one year high of $42.49. The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.72 and a current ratio of 0.81.

Aramark (NYSE:ARMK) last issued its earnings results on Monday, November 11th. The company reported $0.54 EPS for the quarter, hitting analysts’ consensus estimates of $0.54. The business had revenue of $4.42 billion for the quarter, compared to analyst estimates of $4.46 billion. Aramark had a net margin of 1.51% and a return on equity of 14.06%. The company’s quarterly revenue was up 5.2% compared to the same quarter last year. During the same period last year, the company posted $0.64 earnings per share. As a group, equities analysts predict 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 given 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 is Monday, December 2nd. Aramark’s dividend payout ratio (DPR) is presently 42.42%.

Aramark 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.