Dai ichi Life Insurance Company Ltd Has $7.62 Million Position in Aramark (NYSE:ARMK)

Dai ichi Life Insurance Company Ltd boosted its holdings in Aramark (NYSE:ARMK) by 277.2% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 196,801 shares of the company’s stock after purchasing an additional 144,625 shares during the period. Dai ichi Life Insurance Company Ltd’s holdings in Aramark were worth $7,622,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Huntington National Bank increased its holdings in Aramark by 100.3% in 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. Capital Performance Advisors LLP acquired a new stake in Aramark in the 3rd quarter valued at $28,000. UMB Bank n.a. grew its position in Aramark by 360.1% in the third quarter. UMB Bank n.a. now owns 773 shares of the company’s stock valued at $30,000 after acquiring an additional 605 shares during the period. Friedenthal Financial acquired a new position in Aramark during the third quarter worth $52,000. Finally, GAMMA Investing LLC lifted its holdings 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 period.

Aramark Price Performance

Shares of ARMK opened at $41.83 on Tuesday. The stock has a market cap of $11.04 billion, a P/E ratio of 42.25 and a beta of 1.62. Aramark has a 1 year low of $26.58 and a 1 year high of $42.04. The stock’s 50-day moving average price is $38.46 and its two-hundred day moving average price is $35.63. The company has a current ratio of 0.81, a quick ratio of 0.72 and a debt-to-equity ratio of 1.42.

Aramark (NYSE:ARMK) last issued its quarterly earnings data on Monday, November 11th. The company reported $0.54 EPS for the quarter, hitting analysts’ consensus estimates of $0.54. The business had revenue of $4.42 billion for the quarter, compared to analyst estimates of $4.46 billion. Aramark had a net margin of 1.51% and a return on equity of 14.06%. The firm’s quarterly revenue was up 5.2% on a year-over-year basis. During the same period last year, the business posted $0.64 earnings per share. On average, equities analysts predict that Aramark will post 1.92 earnings per share for the current year.

Aramark Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Monday, December 2nd will be issued 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 presently 42.42%.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on ARMK. Deutsche Bank Aktiengesellschaft raised shares of Aramark from a “hold” rating to a “buy” rating and lifted their price target for the company from $36.00 to $39.00 in a report on Wednesday, August 7th. The Goldman Sachs Group boosted their target price on Aramark from $38.00 to $41.00 and gave the stock a “buy” rating in a report on Wednesday, October 16th. Truist Financial lifted their price objective on Aramark from $42.00 to $46.00 and gave the company a “buy” rating in a research report on Tuesday, November 12th. UBS Group increased their target price on Aramark from $40.00 to $44.00 and gave the stock a “buy” rating in a report on Tuesday, October 8th. Finally, Bank of America upped their price target on shares of Aramark from $36.00 to $39.00 and gave the stock a “buy” rating in a research report on Wednesday, August 7th. Three equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, Aramark currently has an average 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.