Dai ichi Life Insurance Company Ltd Boosts Holdings in Aramark (NYSE:ARMK)

Dai ichi Life Insurance Company Ltd increased its position in Aramark (NYSE:ARMK) by 277.2% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 196,801 shares of the company’s stock after purchasing an additional 144,625 shares during the quarter. Dai ichi Life Insurance Company Ltd owned 0.07% of Aramark worth $7,622,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. O Shaughnessy Asset Management LLC acquired a new position in Aramark during the 1st quarter worth $249,000. Price T Rowe Associates Inc. MD grew its stake in Aramark by 7.1% in the first quarter. Price T Rowe Associates Inc. MD now owns 166,589 shares of the company’s stock worth $5,418,000 after purchasing an additional 11,062 shares in the last quarter. Public Employees Retirement System of Ohio increased its holdings in Aramark by 1.5% in the first quarter. Public Employees Retirement System of Ohio now owns 99,563 shares of the company’s stock valued at $3,238,000 after buying an additional 1,487 shares during the last quarter. Bayesian Capital Management LP acquired a new stake in Aramark during the first quarter valued at approximately $592,000. Finally, Tidal Investments LLC lifted its holdings in Aramark by 21.5% during the 1st quarter. Tidal Investments LLC now owns 42,585 shares of the company’s stock worth $1,385,000 after buying an additional 7,549 shares during the last quarter.

Aramark Stock Performance

Aramark stock opened at $41.83 on Tuesday. Aramark has a fifty-two week low of $26.58 and a fifty-two week high of $42.04. The firm’s 50 day simple moving average is $38.46 and its 200-day simple moving average is $35.63. The company has a debt-to-equity ratio of 1.42, a current ratio of 0.81 and a quick ratio of 0.72. The company has a market cap of $11.04 billion, a P/E ratio of 42.25 and a beta of 1.62.

Aramark (NYSE:ARMK) last issued its quarterly earnings results on Monday, November 11th. The company reported $0.54 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.54. The business had revenue of $4.42 billion for the quarter, compared to the consensus estimate of $4.46 billion. Aramark had a return on equity of 14.06% and a net margin of 1.51%. Aramark’s revenue for the quarter was up 5.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.64 earnings per share. As a group, equities research analysts predict that Aramark will post 1.92 EPS for the current year.

Aramark Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders 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 dividend yield of 0.01%. Aramark’s dividend payout ratio is 42.42%.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the company. The Goldman Sachs Group boosted their price objective on Aramark from $38.00 to $41.00 and gave the company a “buy” rating in a research report on Wednesday, October 16th. StockNews.com raised shares of Aramark from a “sell” rating to a “hold” rating in a report on Tuesday, October 29th. Deutsche Bank Aktiengesellschaft raised shares of Aramark from a “hold” rating to a “buy” rating and boosted their target price for the company from $36.00 to $39.00 in a research note on Wednesday, August 7th. Stifel Nicolaus raised their price target on shares of Aramark from $43.00 to $45.00 and gave the company a “buy” rating in a research note on Tuesday, November 12th. Finally, UBS Group boosted their price objective on 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 stock. Based on data from MarketBeat.com, Aramark currently has a consensus rating of “Moderate Buy” and a consensus target price of $42.23.

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.