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Sept. 6, 2019, 4:17 a.m. EDT

Sodexo slumps as Barclays downgrades to underweight

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By Steve Goldstein

Sodexo /zigman2/quotes/206443022/delayed FR:SW -0.98% was one of the biggest decliners in the Stoxx 600 on Friday, losing over 4%, as Barclays downgraded the catering firm to underweight. "Until now the impact of food delivery on the catering sector has been limited, in large part as delivery groups have focused on B2C rather than B2B and the current delivery offer to the workplace is too expensive/inconvenient to seriously rival canteens. This is changing quickly, however, with two of the major European delivery companies acquiring B2B platforms and numerous start-ups developing a workplace offer," the broker said. Aramark /zigman2/quotes/204468030/composite ARMK +0.56% and Elior /zigman2/quotes/208428119/delayed FR:ELIOR -0.43% stayed at equal weight and it said Edenred /zigman2/quotes/204329243/delayed FR:EDEN -1.12% , an overweight, could benefit as meal vouchers bring subsidies to workplace delivery.

/zigman2/quotes/206443022/delayed
FR : France: Euronext Paris
75.04
-0.74 -0.98%
Volume: 277,424
Dec. 3, 2021 5:35p
P/E Ratio
79.69
Dividend Yield
2.67%
Market Cap
€10.98 billion
Rev. per Employee
€42,292
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/zigman2/quotes/204468030/composite
US : U.S.: NYSE
$ 33.96
+0.19 +0.56%
Volume: 1.98M
Dec. 3, 2021 4:00p
P/E Ratio
N/A
Dividend Yield
1.30%
Market Cap
$8.70 billion
Rev. per Employee
$48,715
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/zigman2/quotes/208428119/delayed
FR : France: Euronext Paris
5.74
-0.03 -0.43%
Volume: 299,530
Dec. 3, 2021 5:35p
P/E Ratio
N/A
Dividend Yield
0.00%
Market Cap
€989.39 million
Rev. per Employee
€37,273
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/zigman2/quotes/204329243/delayed
FR : France: Euronext Paris
39.02
-0.44 -1.12%
Volume: 487,804
Dec. 3, 2021 5:35p
P/E Ratio
36.54
Dividend Yield
1.92%
Market Cap
€9.71 billion
Rev. per Employee
€161,082
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