Sendero Wealth Management LLC Acquires 5,911 Shares of Aramark (NYSE:ARMK)

Sendero Wealth Management LLC lifted its holdings in shares of Aramark (NYSE:ARMK) by 35.4% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 22,611 shares of the company’s stock after acquiring an additional 5,911 shares during the period. Sendero Wealth Management LLC’s holdings in Aramark were worth $844,000 as of its most recent filing with the SEC.

Several other institutional investors have also made changes to their positions in ARMK. Massachusetts Financial Services Co. MA raised its position in Aramark by 70.0% in the third quarter. Massachusetts Financial Services Co. MA now owns 8,329,917 shares of the company’s stock worth $322,618,000 after purchasing an additional 3,430,131 shares in the last quarter. Millennium Management LLC raised its holdings in shares of Aramark by 822.3% in 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. Janus Henderson Group PLC lifted its position in shares of Aramark by 6.0% during the 3rd quarter. Janus Henderson Group PLC now owns 15,714,443 shares of the company’s stock worth $608,619,000 after buying an additional 896,288 shares during the period. Dimensional Fund Advisors LP boosted its stake in 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 buying an additional 720,738 shares in the last quarter. Finally, Point72 Europe London LLP bought a new stake in Aramark in the third quarter valued at $18,105,000.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on ARMK. Morgan Stanley lifted their price objective on Aramark from $40.00 to $43.00 and gave the company an “equal weight” rating in a report on Thursday, December 12th. Stifel Nicolaus lifted their price target on shares of Aramark from $43.00 to $45.00 and gave the company a “buy” rating in a report on Tuesday, November 12th. UBS Group upped their price objective on shares of Aramark from $40.00 to $44.00 and gave the stock a “buy” rating in a research note on Tuesday, October 8th. Robert W. Baird lifted their target price on shares of Aramark from $44.00 to $45.00 and gave the company a “neutral” rating in a research note on Thursday, December 12th. Finally, JPMorgan Chase & Co. increased their price target on Aramark from $41.00 to $45.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 12th. Three analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $42.59.

Aramark Stock Up 2.9 %

Shares of ARMK opened at $39.31 on Thursday. The business’s fifty day moving average price is $38.82 and its two-hundred day moving average price is $37.10. The firm has a market capitalization of $10.41 billion, a price-to-earnings ratio of 39.71 and a beta of 1.64. Aramark has a 52 week low of $28.30 and a 52 week high of $42.49. The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.72 and a current ratio of 0.81.

Aramark (NYSE:ARMK) last posted its quarterly 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 for the quarter, compared to analysts’ expectations of $4.46 billion. Aramark had a return on equity of 14.06% and a net margin of 1.51%. The firm’s quarterly revenue was up 5.2% compared to the same quarter last year. During the same quarter last year, the business earned $0.64 earnings per share. On average, analysts predict that Aramark will post 1.92 earnings per share for the current year.

Aramark Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, December 12th. Investors of record on Monday, December 2nd were paid a dividend of $0.001 per share. This represents a $0.00 dividend on an annualized basis and a dividend yield of 0.01%. The ex-dividend date was Monday, December 2nd. Aramark’s dividend payout ratio (DPR) is 42.42%.

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.