Acrospire Investment Management LLC grew its holdings in Aramark (NYSE:ARMK) by 98.5% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,628 shares of the company’s stock after purchasing an additional 1,800 shares during the period. Acrospire Investment Management LLC’s holdings in Aramark were worth $149,000 as of its most recent SEC filing.
Several other institutional investors have also bought and sold shares of ARMK. Russell Investments Group Ltd. increased its holdings in shares of Aramark by 12.6% in the 1st quarter. Russell Investments Group Ltd. now owns 103,832 shares of the company’s stock worth $3,829,000 after purchasing an additional 11,651 shares in the last quarter. US Bancorp DE increased its holdings in shares of Aramark by 0.6% in the 1st quarter. US Bancorp DE now owns 6,417 shares of the company’s stock worth $237,000 after purchasing an additional 41 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in shares of Aramark by 6.3% in the 1st quarter. Bank of New York Mellon Corp now owns 1,296,567 shares of the company’s stock worth $47,805,000 after purchasing an additional 76,760 shares in the last quarter. BNP Paribas Arbitrage SA increased its holdings in shares of Aramark by 33.6% in the 1st quarter. BNP Paribas Arbitrage SA now owns 40,093 shares of the company’s stock worth $1,478,000 after purchasing an additional 10,088 shares in the last quarter. Finally, Comerica Bank increased its holdings in shares of Aramark by 82.3% in the 1st quarter. Comerica Bank now owns 21,952 shares of the company’s stock worth $804,000 after purchasing an additional 9,908 shares in the last quarter. 94.84% of the stock is owned by institutional investors and hedge funds.
Shares of Aramark (NYSE ARMK) traded up 0.07% during mid-day trading on Tuesday, hitting $40.42. The company had a trading volume of 55,550 shares. The company has a 50-day moving average price of $40.02 and a 200-day moving average price of $38.60. Aramark has a 1-year low of $32.73 and a 1-year high of $41.72. The company has a market capitalization of $9.91 billion, a price-to-earnings ratio of 29.29 and a beta of 0.48.
Aramark (NYSE:ARMK) last released its earnings results on Tuesday, August 8th. The company reported $0.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.35 by $0.05. Aramark had a return on equity of 19.29% and a net margin of 2.37%. The firm had revenue of $3.59 billion for the quarter, compared to the consensus estimate of $3.61 billion. During the same period in the prior year, the firm earned $0.34 EPS. The firm’s revenue was up .2% on a year-over-year basis. On average, equities analysts anticipate that Aramark will post $1.96 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Tuesday, September 5th. Investors of record on Wednesday, August 16th were given a $0.103 dividend. This represents a $0.41 annualized dividend and a dividend yield of 1.02%. The ex-dividend date was Monday, August 14th. Aramark’s payout ratio is 29.93%.
A number of analysts have commented on the company. Barclays PLC lifted their target price on Aramark from $37.00 to $39.00 and gave the stock an “equal weight” rating in a report on Friday, June 23rd. BidaskClub raised Aramark from a “hold” rating to a “buy” rating in a report on Friday, June 16th. Morgan Stanley lifted their target price on Aramark from $39.00 to $40.00 and gave the stock an “equal weight” rating in a report on Thursday, August 10th. Nomura reissued a “buy” rating and issued a $45.00 target price (up previously from $43.00) on shares of Aramark in a report on Wednesday, August 9th. Finally, Zacks Investment Research lowered Aramark from a “buy” rating to a “hold” rating in a report on Tuesday, July 11th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $42.86.
Aramark Company Profile
Aramark is a global provider of food, facilities and uniform services to education, healthcare, business and industry, and sports, leisure and corrections clients. The Company operates through three segments: Food and Support Services North America (FSS North America), Food and Support Services International (FSS International), and Uniform and Career Apparel (Uniform).
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