Alliancebernstein L.P. decreased its stake in Aramark (NYSE:ARMK) by 1.9% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 161,472 shares of the company’s stock after selling 3,154 shares during the period. Alliancebernstein L.P.’s holdings in Aramark were worth $5,953,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Norges Bank bought a new position in shares of Aramark during the fourth quarter valued at about $75,501,000. AMI Asset Management Corp bought a new stake in Aramark during the first quarter worth $20,909,000. Highbridge Capital Management LLC bought a new stake in Aramark during the fourth quarter worth $17,579,000. Channing Capital Management LLC bought a new stake in Aramark during the first quarter worth $15,571,000. Finally, Crestwood Advisors Group LLC bought a new stake in Aramark during the first quarter worth $13,033,000. Institutional investors own 95.38% of the company’s stock.
Shares of Aramark (NYSE ARMK) opened at 41.46 on Monday. Aramark has a 12-month low of $31.38 and a 12-month high of $41.56. The company has a 50-day moving average price of $38.05 and a 200-day moving average price of $36.30. The firm has a market capitalization of $10.12 billion, a P/E ratio of 31.84 and a beta of 0.50.
Aramark (NYSE:ARMK) last posted its quarterly earnings results on Tuesday, May 9th. The company reported $0.45 earnings per share for the quarter, topping the consensus estimate of $0.37 by $0.08. The business had revenue of $3.62 billion during the quarter, compared to the consensus estimate of $3.63 billion. Aramark had a net margin of 2.23% and a return on equity of 19.13%. The firm’s revenue for the quarter was up 1.3% on a year-over-year basis. During the same period in the previous year, the firm posted $0.39 earnings per share. Equities analysts predict that Aramark will post $1.96 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 6th. Shareholders of record on Wednesday, May 17th were paid a $0.103 dividend. This represents a $0.41 annualized dividend and a yield of 0.99%. The ex-dividend date was Monday, May 15th. Aramark’s dividend payout ratio is presently 31.78%.
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A number of research firms recently weighed in on ARMK. Barclays PLC increased their price objective on Aramark from $37.00 to $39.00 and gave the company an “equal weight” rating in a report on Friday. BidaskClub upgraded Aramark from a “hold” rating to a “buy” rating in a report on Friday, June 16th. Deutsche Bank AG increased their price objective on Aramark from $42.00 to $48.00 and gave the company a “buy” rating in a report on Wednesday, May 10th. Zacks Investment Research downgraded Aramark from a “buy” rating to a “hold” rating in a report on Tuesday, May 9th. Finally, Goldman Sachs Group, Inc. (The) upgraded Aramark from a “buy” rating to a “conviction-buy” rating and set a $44.00 price objective for the company in a report on Thursday, March 2nd. Two research analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. Aramark presently has an average rating of “Buy” and a consensus target price of $42.90.
In other Aramark news, EVP Stephen R. Reynolds sold 30,000 shares of the business’s stock in a transaction on Wednesday, June 14th. The shares were sold at an average price of $40.41, for a total value of $1,212,300.00. Following the completion of the sale, the executive vice president now directly owns 62,460 shares of the company’s stock, valued at $2,524,008.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Lynn Mckee sold 100,000 shares of the business’s stock in a transaction on Friday, June 2nd. The stock was sold at an average price of $38.61, for a total transaction of $3,861,000.00. Following the completion of the sale, the executive vice president now directly owns 304,736 shares of the company’s stock, valued at $11,765,856.96. The disclosure for this sale can be found here. Insiders sold 143,629 shares of company stock valued at $5,618,413 over the last three months. 2.90% of the stock is currently owned by insiders.
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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