Otter Creek Advisors LLC reduced its position in shares of Aramark (NYSE:ARMK) by 11.6% during the first quarter, Holdings Channel reports. The institutional investor owned 383,342 shares of the company’s stock after selling 50,274 shares during the period. Aramark accounts for about 2.1% of Otter Creek Advisors LLC’s investment portfolio, making the stock its 4th largest position. Otter Creek Advisors LLC owned about 0.16% of Aramark worth $14,134,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Alyeska Investment Group L.P. purchased a new stake in shares of Aramark during the fourth quarter worth approximately $40,178,000. Levin Capital Strategies L.P. raised its stake in shares of Aramark by 35.3% in the fourth quarter. Levin Capital Strategies L.P. now owns 32,469 shares of the company’s stock worth $1,160,000 after buying an additional 8,469 shares during the last quarter. Envestnet Asset Management Inc. raised its stake in shares of Aramark by 4.4% in the fourth quarter. Envestnet Asset Management Inc. now owns 16,536 shares of the company’s stock worth $592,000 after buying an additional 696 shares during the last quarter. Menta Capital LLC purchased a new stake in shares of Aramark during the fourth quarter worth approximately $1,475,000. Finally, Brown Advisory Inc. purchased a new stake in shares of Aramark during the fourth quarter worth approximately $273,000. 95.27% of the stock is currently owned by institutional investors.
Shares of Aramark (NYSE ARMK) traded up 0.62% during mid-day trading on Friday, reaching $40.84. The company’s stock had a trading volume of 1,526,875 shares. Aramark has a 12 month low of $31.38 and a 12 month high of $40.96. The company has a market cap of $9.97 billion, a P/E ratio of 31.37 and a beta of 0.50. The company has a 50-day moving average of $37.67 and a 200-day moving average of $36.14.
Aramark (NYSE:ARMK) last released its earnings results on Tuesday, May 9th. The company reported $0.45 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.37 by $0.08. Aramark had a net margin of 2.23% and a return on equity of 19.13%. The firm had revenue of $3.62 billion during the quarter, compared to analyst estimates of $3.63 billion. During the same period last year, the business earned $0.39 earnings per share. The business’s revenue was up 1.3% on a year-over-year basis. Equities research analysts forecast that Aramark will post $1.96 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 6th. Stockholders of record on Wednesday, May 17th were issued a dividend of $0.103 per share. The ex-dividend date of this dividend was Monday, May 15th. This represents a $0.41 annualized dividend and a dividend yield of 1.01%. Aramark’s payout ratio is 31.78%.
A number of brokerages recently commented on ARMK. BidaskClub raised Aramark from a “hold” rating to a “buy” rating in a research report on Friday. Deutsche Bank AG boosted their target price on Aramark from $42.00 to $48.00 and gave the company a “buy” rating in a research report on Wednesday, May 10th. Zacks Investment Research raised Aramark from a “hold” rating to a “buy” rating and set a $42.00 target price for the company in a research report on Friday, May 12th. Finally, Goldman Sachs Group, Inc. (The) raised Aramark from a “buy” rating to a “conviction-buy” rating and set a $44.00 target price for the company in a research report on Thursday, March 2nd. Two investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $42.70.
In other news, EVP Stephen R. Reynolds sold 30,000 shares of Aramark stock in a transaction that occurred on Wednesday, June 14th. The shares were sold at an average price of $40.41, for a total transaction of $1,212,300.00. Following the completion of the transaction, the executive vice president now directly owns 62,460 shares in the company, valued at $2,524,008.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP James J. Tarangelo sold 3,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 25th. The shares were sold at an average price of $37.15, for a total transaction of $111,450.00. Following the sale, the vice president now directly owns 2,871 shares of the company’s stock, valued at approximately $106,657.65. The disclosure for this sale can be found here. Insiders have sold 133,000 shares of company stock valued at $5,184,750 over the last quarter. Company insiders own 2.90% of the company’s stock.
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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