Jennison Associates LLC reduced its stake in shares of Aramark (NYSE:ARMK) by 7.6% during the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 2,375,484 shares of the company’s stock after selling 194,126 shares during the period. Jennison Associates LLC owned approximately 0.97% of Aramark worth $96,468,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently modified their holdings of the business. Toronto Dominion Bank raised its stake in shares of Aramark by 19.0% during the 2nd quarter. Toronto Dominion Bank now owns 3,027 shares of the company’s stock worth $124,000 after buying an additional 483 shares during the last quarter. Acrospire Investment Management LLC raised its stake in shares of Aramark by 98.5% during the 2nd quarter. Acrospire Investment Management LLC now owns 3,628 shares of the company’s stock worth $149,000 after buying an additional 1,800 shares during the last quarter. Pacer Advisors Inc. raised its stake in shares of Aramark by 8.3% during the 2nd quarter. Pacer Advisors Inc. now owns 4,871 shares of the company’s stock worth $200,000 after buying an additional 374 shares during the last quarter. Parametrica Management Ltd acquired a new position in shares of Aramark during the 2nd quarter worth $202,000. Finally, HighTower Advisors LLC acquired a new position in shares of Aramark during the 2nd quarter worth $208,000. Institutional investors own 94.42% of the company’s stock.
ARMK has been the subject of several research reports. Zacks Investment Research downgraded Aramark from a “hold” rating to a “strong sell” rating in a research note on Wednesday, October 18th. BidaskClub downgraded Aramark from a “hold” rating to a “sell” rating in a research note on Friday, July 28th. Royal Bank Of Canada reaffirmed a “buy” rating on shares of Aramark in a research note on Thursday, October 5th. Nomura lifted their price target on Aramark from $45.00 to $47.00 and gave the stock a “buy” rating in a research note on Tuesday, October 17th. Finally, Barclays PLC reaffirmed a “hold” rating and set a $45.00 price target on shares of Aramark in a research note on Thursday, October 19th. One analyst has rated the stock with a sell rating, two have assigned a hold rating, four have given a buy rating and one has given a strong buy rating to the company’s stock. Aramark currently has a consensus rating of “Buy” and a consensus price target of $45.17.
Shares of Aramark (NYSE:ARMK) traded down $0.07 during mid-day trading on Friday, reaching $42.68. 1,473,200 shares of the company traded hands, compared to its average volume of 1,108,168. Aramark has a 12-month low of $32.73 and a 12-month high of $44.12. The firm has a market cap of $10,461.08, a P/E ratio of 24.67, a price-to-earnings-growth ratio of 1.77 and a beta of 0.50. The company has a quick ratio of 1.00, a current ratio of 1.30 and a debt-to-equity ratio of 2.34.
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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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