New York State Teachers Retirement System Cuts Stake in Aramark (NYSE:ARMK)

New York State Teachers Retirement System lessened its holdings in shares of Aramark (NYSE:ARMK) by 2.1% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 132,027 shares of the company’s stock after selling 2,813 shares during the quarter. New York State Teachers Retirement System’s holdings in Aramark were worth $5,113,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the business. Millennium Management LLC grew its position in Aramark by 822.3% during the 2nd quarter. Millennium Management LLC now owns 1,677,629 shares of the company’s stock worth $57,073,000 after purchasing an additional 1,495,737 shares during the last quarter. Farallon Capital Management LLC grew its holdings in shares of Aramark by 5.5% during the first quarter. Farallon Capital Management LLC now owns 17,822,937 shares of the company’s stock valued at $579,602,000 after buying an additional 923,683 shares during the last quarter. Dimensional Fund Advisors LP increased its position in shares of Aramark by 18.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 4,731,963 shares of the company’s stock valued at $160,977,000 after acquiring an additional 720,738 shares during the period. Janus Henderson Group PLC raised its stake in Aramark by 5.4% in the 1st quarter. Janus Henderson Group PLC now owns 13,391,832 shares of the company’s stock worth $435,501,000 after acquiring an additional 681,735 shares during the last quarter. Finally, Kingdon Capital Management L.L.C. acquired a new stake in Aramark during the 1st quarter worth about $13,008,000.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on ARMK shares. Morgan Stanley increased their price objective 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 shares of Aramark from a “sell” rating to a “hold” rating in a research report on Tuesday, October 29th. Robert W. Baird upped their price objective on shares of Aramark from $37.00 to $38.00 and gave the company a “neutral” rating in a report on Wednesday, August 7th. The Goldman Sachs Group raised their target price on shares of Aramark from $38.00 to $41.00 and gave the stock a “buy” rating in a report on Wednesday, October 16th. Finally, Deutsche Bank Aktiengesellschaft raised shares of Aramark from a “hold” rating to a “buy” rating and upped their price target for the company from $36.00 to $39.00 in a report on Wednesday, August 7th. Three equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, Aramark has an average rating of “Moderate Buy” and an average target price of $39.68.

Aramark Price Performance

NYSE:ARMK opened at $38.34 on Wednesday. The company has a quick ratio of 0.86, a current ratio of 0.96 and a debt-to-equity ratio of 1.71. Aramark has a 52 week low of $25.92 and a 52 week high of $39.99. The stock’s 50-day moving average price is $37.93 and its 200-day moving average price is $34.92. The stock has a market capitalization of $10.10 billion, a PE ratio of 29.26 and a beta of 1.62.

Aramark (NYSE:ARMK) last issued its quarterly earnings data on Tuesday, August 6th. The company reported $0.31 EPS for the quarter, beating the consensus estimate of $0.30 by $0.01. The company had revenue of $4.38 billion for the quarter, compared to analyst estimates of $4.31 billion. Aramark had a return on equity of 14.09% and a net margin of 1.93%. Aramark’s quarterly revenue was up 8.0% compared to the same quarter last year. During the same period last year, the company earned $0.36 earnings per share. As a group, equities analysts expect that Aramark will post 1.55 EPS for the current fiscal year.

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.