Point72 Europe London LLP Makes New $18.11 Million Investment in Aramark (NYSE:ARMK)

Point72 Europe London LLP purchased a new stake in shares of Aramark (NYSE:ARMK) during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 467,470 shares of the company’s stock, valued at approximately $18,105,000. Aramark comprises approximately 1.2% of Point72 Europe London LLP’s portfolio, making the stock its 18th biggest holding. Point72 Europe London LLP owned approximately 0.18% of Aramark as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of ARMK. CIBC Asset Management Inc raised its position in shares of Aramark by 3.6% during the 3rd quarter. CIBC Asset Management Inc now owns 7,621 shares of the company’s stock valued at $295,000 after buying an additional 265 shares during the period. Bradley Foster & Sargent Inc. CT raised its position in shares of Aramark by 0.4% during the 2nd quarter. Bradley Foster & Sargent Inc. CT now owns 69,987 shares of the company’s stock valued at $2,381,000 after buying an additional 310 shares during the period. Huntington National Bank raised its position 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 buying an additional 341 shares during the period. Cadent Capital Advisors LLC raised its position in shares of Aramark by 4.7% during the 3rd quarter. Cadent Capital Advisors LLC now owns 7,711 shares of the company’s stock valued at $299,000 after buying an additional 349 shares during the period. Finally, UMB Bank n.a. raised its position in shares of Aramark by 360.1% during the 3rd quarter. UMB Bank n.a. now owns 773 shares of the company’s stock valued at $30,000 after buying an additional 605 shares during the period.

Aramark Stock Performance

NYSE:ARMK opened at $40.71 on Friday. The company has a fifty day simple moving average of $38.68 and a two-hundred day simple moving average of $35.81. The company has a market cap of $10.75 billion, a price-to-earnings ratio of 41.12 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 has a 52 week low of $26.58 and a 52 week high of $42.49.

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 firm had revenue of $4.42 billion during the quarter, compared to the consensus estimate of $4.46 billion. Aramark had a net margin of 1.51% and a return on equity of 14.06%. The company’s revenue was up 5.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.64 earnings per share. As a group, equities analysts anticipate that Aramark will post 1.92 earnings per share for the current fiscal year.

Aramark Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Monday, December 2nd will be paid a dividend of $0.001 per share. The ex-dividend date 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 currently 42.42%.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on ARMK. JPMorgan Chase & Co. lifted their price target on shares of Aramark from $41.00 to $45.00 and gave the company an “overweight” rating in a research report on Tuesday, November 12th. UBS Group boosted their target price on Aramark from $40.00 to $44.00 and gave the company a “buy” rating in a research report on Tuesday, October 8th. Royal Bank of Canada raised Aramark from a “sector perform” rating to an “outperform” rating and boosted their target price for the company from $36.00 to $42.50 in a research report on Tuesday, September 17th. Robert W. Baird boosted their target price on Aramark from $38.00 to $44.00 and gave the company a “neutral” rating in a research report on Tuesday, November 12th. Finally, The Goldman Sachs Group boosted their target price on Aramark from $38.00 to $41.00 and gave the company a “buy” rating in a research report on Wednesday, October 16th. Three analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat, Aramark has a consensus rating of “Moderate Buy” and an average price target of $42.23.

About Aramark

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.