Aramark (ARMK) Shares Bought by Bank of America Corp DE

Bank of America Corp DE raised its stake in shares of Aramark (NYSE:ARMK) by 5.3% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,302,910 shares of the company’s stock after buying an additional 65,676 shares during the period. Bank of America Corp DE owned approximately 0.53% of Aramark worth $48,338,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Quantitative Systematic Strategies LLC acquired a new position in Aramark during the 2nd quarter valued at about $1,335,000. Private Advisor Group LLC increased its stake in Aramark by 951.0% during the 2nd quarter. Private Advisor Group LLC now owns 99,580 shares of the company’s stock valued at $3,695,000 after buying an additional 90,105 shares during the period. Sei Investments Co. increased its stake in Aramark by 1.1% during the 2nd quarter. Sei Investments Co. now owns 275,421 shares of the company’s stock valued at $10,218,000 after buying an additional 2,994 shares during the period. Sarasin & Partners LLP increased its stake in Aramark by 7.3% during the 2nd quarter. Sarasin & Partners LLP now owns 1,139,852 shares of the company’s stock valued at $42,289,000 after buying an additional 77,821 shares during the period. Finally, Toronto Dominion Bank increased its stake in Aramark by 1,234.3% during the 2nd quarter. Toronto Dominion Bank now owns 223,802 shares of the company’s stock valued at $8,300,000 after buying an additional 207,029 shares during the period. 98.03% of the stock is currently owned by hedge funds and other institutional investors.

In other Aramark news, EVP Stephen R. Reynolds sold 15,000 shares of the firm’s stock in a transaction dated Wednesday, August 29th. The shares were sold at an average price of $41.33, for a total value of $619,950.00. Following the completion of the transaction, the executive vice president now directly owns 47,058 shares in the company, valued at $1,944,907.14. The sale was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 2.90% of the company’s stock.

Several equities analysts have commented on the stock. Sanford C. Bernstein initiated coverage on shares of Aramark in a research note on Monday, September 17th. They set an “outperform” rating and a $52.00 target price on the stock. Morgan Stanley restated a “hold” rating and set a $45.00 price objective (up previously from $44.00) on shares of Aramark in a research report on Thursday, September 13th. Nomura raised their price objective on shares of Aramark from $48.00 to $50.00 and gave the company a “buy” rating in a research report on Friday, September 7th. Zacks Investment Research upgraded shares of Aramark from a “sell” rating to a “hold” rating in a research report on Wednesday, August 22nd. Finally, Credit Suisse Group initiated coverage on shares of Aramark in a research report on Friday, August 10th. They set an “outperform” rating and a $52.00 price objective for the company. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and six have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $47.88.

NYSE:ARMK opened at $42.97 on Monday. Aramark has a twelve month low of $36.28 and a twelve month high of $46.09. The company has a debt-to-equity ratio of 2.74, a current ratio of 1.36 and a quick ratio of 1.03. The stock has a market cap of $10.59 billion, a PE ratio of 24.28 and a beta of 0.69.

Aramark (NYSE:ARMK) last posted its quarterly earnings data on Tuesday, August 7th. The company reported $0.48 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.43 by $0.05. Aramark had a net margin of 3.26% and a return on equity of 17.37%. The company had revenue of $3.97 billion during the quarter, compared to analyst estimates of $3.92 billion. equities research analysts expect that Aramark will post 1.99 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 30th. Stockholders of record on Thursday, August 16th were given a dividend of $0.105 per share. The ex-dividend date was Wednesday, August 15th. This represents a $0.42 annualized dividend and a dividend yield of 0.98%. Aramark’s dividend payout ratio (DPR) is 23.73%.

Aramark Profile

Aramark provides food, facilities, and uniform services to education, healthcare, business and industry, sports, leisure, and corrections clients in North America and internationally. The company operates through three segments: Food and Support Services North America, Food and Support Services International, Uniform and Career Apparel.

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Institutional Ownership by Quarter for Aramark (NYSE:ARMK)

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