Aramark (NYSE:ARMK) Shares Sold by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans lessened its stake in Aramark (NYSE:ARMK) by 3.4% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 64,001 shares of the company’s stock after selling 2,226 shares during the quarter. Thrivent Financial for Lutherans’ holdings in Aramark were worth $2,177,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in ARMK. Rise Advisors LLC acquired a new position in shares of Aramark in the 1st quarter valued at $25,000. Scarborough Advisors LLC acquired a new position in Aramark in the fourth quarter valued at about $34,000. Twin Tree Management LP boosted its stake in Aramark by 32.0% during the first quarter. Twin Tree Management LP now owns 1,424 shares of the company’s stock worth $46,000 after buying an additional 345 shares during the period. GAMMA Investing LLC increased its position in shares of Aramark by 319.3% during the second 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. Finally, Versant Capital Management Inc lifted its holdings in shares of Aramark by 44,750.0% in the 2nd quarter. Versant Capital Management Inc now owns 1,794 shares of the company’s stock worth $61,000 after acquiring an additional 1,790 shares during the last quarter.

Aramark Stock Performance

NYSE:ARMK opened at $38.14 on Wednesday. The business’s fifty day moving average price is $35.98 and its 200 day moving average price is $33.70. The firm has a market capitalization of $10.03 billion, a PE ratio of 16.03 and a beta of 1.62. Aramark has a 12 month low of $23.95 and a 12 month high of $38.99. The company has a debt-to-equity ratio of 1.71, a current ratio of 0.96 and a quick ratio of 0.86.

Aramark (NYSE:ARMK) last announced its quarterly earnings results 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 net margin of 1.93% and a return on equity of 14.09%. The firm’s revenue was up 8.0% on a year-over-year basis. During the same period in the prior year, the firm posted $0.36 earnings per share. On average, sell-side analysts anticipate that Aramark will post 1.56 earnings per share for the current fiscal year.

Aramark Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Monday, August 19th were paid a $0.095 dividend. This represents a $0.38 annualized dividend and a yield of 1.00%. The ex-dividend date of this dividend was Monday, August 19th. Aramark’s payout ratio is currently 15.97%.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on ARMK. JPMorgan Chase & Co. boosted their target price on Aramark from $39.00 to $41.00 and gave the company an “overweight” rating in a research report on Monday, September 9th. Deutsche Bank Aktiengesellschaft raised Aramark from a “hold” rating to a “buy” rating and increased their target price for the stock from $36.00 to $39.00 in a research note on Wednesday, August 7th. Morgan Stanley lifted their target price on Aramark from $35.00 to $38.00 and gave the company an “equal weight” rating in a research report on Monday, September 9th. UBS Group raised their price objective on shares of Aramark from $35.00 to $40.00 and gave the company a “buy” rating in a research note on Friday, June 21st. Finally, Truist Financial upped their target price on shares of Aramark from $37.00 to $42.00 and gave the stock a “buy” rating in a research note on Thursday, September 12th. Three investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $37.36.

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.