Landscape Capital Management L.L.C. Has $1.66 Million Stock Position in Aramark (NYSE:ARMK)

by · The Markets Daily

Landscape Capital Management L.L.C. trimmed its stake in shares of Aramark (NYSE:ARMK – Free Report) by 27.4% in the third quarter, according to the company in its most recent filing with the SEC. The firm owned 42,847 shares of the company’s stock after selling 16,194 shares during the quarter. Landscape Capital Management L.L.C.’s holdings in Aramark were worth $1,659,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in ARMK. Millennium Management LLC boosted its holdings in shares of 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 buying an additional 1,495,737 shares in the last quarter. Farallon Capital Management LLC increased its holdings in shares of Aramark by 5.5% in the first quarter. Farallon Capital Management LLC now owns 17,822,937 shares of the company’s stock worth $579,602,000 after purchasing an additional 923,683 shares during the period. Dimensional Fund Advisors LP lifted its holdings in shares of Aramark by 18.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 4,731,963 shares of the company’s stock worth $160,977,000 after acquiring an additional 720,738 shares during the last quarter. Janus Henderson Group PLC raised its position 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 purchasing an additional 681,735 shares during the period. Finally, Kingdon Capital Management L.L.C. bought a new stake in Aramark during the 1st quarter valued at $13,008,000.

Analysts Set New Price Targets

Several analysts recently weighed in on ARMK shares. Royal Bank of Canada upgraded Aramark from a “sector perform” rating to an “outperform” rating and upped their price target for the stock from $36.00 to $42.50 in a research note on Tuesday, September 17th. Robert W. Baird increased their price objective on shares of Aramark from $38.00 to $44.00 and gave the company a “neutral” rating in a report on Tuesday, November 12th. Bank of America increased their price target on shares of Aramark from $36.00 to $39.00 and gave the company a “buy” rating in a report on Wednesday, August 7th. Stifel Nicolaus raised 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. Finally, UBS Group raised their target price on shares of Aramark from $40.00 to $44.00 and gave the stock a “buy” rating in a research report on Tuesday, October 8th. Three research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, Aramark presently has an average rating of “Moderate Buy” and a consensus target price of $42.23.

View Our Latest Analysis on Aramark

Aramark Price Performance

Shares of ARMK opened at $40.41 on Friday. Aramark has a fifty-two week low of $26.58 and a fifty-two week high of $42.04. The firm’s 50 day moving average price is $38.29 and its 200 day moving average price is $35.40. The company has a market cap of $10.65 billion, a P/E ratio of 40.82 and a beta of 1.62. The company has a quick ratio of 0.72, a current ratio of 0.81 and a debt-to-equity ratio of 1.42.

Aramark (NYSE:ARMK – Get Free Report) last issued its earnings results on Monday, November 11th. The company reported $0.54 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.54. The business 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%. The company’s revenue for the quarter was up 5.2% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.64 EPS. On average, research analysts forecast that Aramark will post 1.92 earnings per share for the current fiscal year.

Aramark Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Monday, December 2nd will be issued a dividend of $0.001 per share. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $0.00 annualized dividend and a yield of 0.01%. Aramark’s dividend payout ratio (DPR) is currently 42.42%.

About Aramark

(Free Report)

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.

Recommended Stories