Victory Capital Management Inc. Sells 3,970 Shares of Aramark (NYSE:ARMK)

Victory Capital Management Inc. reduced its position in shares of Aramark (NYSE:ARMK) by 7.3% in the third quarter, HoldingsChannel reports. The firm owned 50,728 shares of the company’s stock after selling 3,970 shares during the quarter. Victory Capital Management Inc.’s holdings in Aramark were worth $1,965,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Capital Performance Advisors LLP purchased a new stake in shares of Aramark during the third quarter worth about $28,000. UMB Bank n.a. increased 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 buying an additional 605 shares during the last quarter. Friedenthal Financial bought a new stake in shares of Aramark in the 3rd quarter valued at approximately $52,000. GAMMA Investing LLC lifted its position in Aramark by 319.3% in the second quarter. GAMMA Investing LLC now owns 1,677 shares of the company’s stock worth $57,000 after buying an additional 1,277 shares during the last quarter. Finally, Versant Capital Management Inc boosted its stake in shares of Aramark by 44,750.0% during the 2nd quarter. Versant Capital Management Inc now owns 1,794 shares of the company’s stock worth $61,000 after purchasing an additional 1,790 shares during the period.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on ARMK. Bank of America lifted their price objective on shares of Aramark from $36.00 to $39.00 and gave the company a “buy” rating in a report on Wednesday, August 7th. Morgan Stanley upped their target price on Aramark from $38.00 to $40.00 and gave the stock an “equal weight” rating in a report on Tuesday, November 12th. Truist Financial raised their price target on Aramark from $42.00 to $46.00 and gave the company a “buy” rating in a research note on Tuesday, November 12th. Deutsche Bank Aktiengesellschaft upgraded Aramark from a “hold” rating to a “buy” rating and lifted their price objective for the company from $36.00 to $39.00 in a report on Wednesday, August 7th. Finally, Royal Bank of Canada upgraded shares of Aramark from a “sector perform” rating to an “outperform” rating and increased their target price for the stock from $36.00 to $42.50 in a report on Tuesday, September 17th. Three analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Aramark currently has a consensus rating of “Moderate Buy” and a consensus target price of $42.23.

Aramark Stock Performance

ARMK stock opened at $40.86 on Monday. Aramark has a one year low of $26.58 and a one year high of $42.04. The firm has a market cap of $10.78 billion, a price-to-earnings ratio of 41.27 and a beta of 1.62. The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.72 and a current ratio of 0.81. The firm has a 50-day simple moving average of $38.39 and a two-hundred day simple moving average of $35.53.

Aramark (NYSE:ARMK) last posted 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 analysts’ expectations of $4.46 billion. Aramark had a net margin of 1.51% and a return on equity of 14.06%. Aramark’s revenue for the quarter was up 5.2% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.64 earnings per share. On average, equities analysts forecast that Aramark will post 1.92 EPS for the current fiscal year.

Aramark Cuts Dividend

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

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.