Rothschild Asset Management Inc. boosted its stake in shares of Aramark (NYSE:ARMK) by 21.8% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 748,612 shares of the company’s stock after acquiring an additional 133,942 shares during the period. Rothschild Asset Management Inc. owned 0.31% of Aramark worth $30,401,000 at the end of the most recent reporting period.
Other hedge funds have also modified their holdings of the company. Vanguard Group Inc. lifted its holdings in Aramark by 2.6% during the 2nd quarter. Vanguard Group Inc. now owns 19,876,655 shares of the company’s stock worth $814,546,000 after buying an additional 507,262 shares during the period. FMR LLC lifted its holdings in Aramark by 3.3% during the 2nd quarter. FMR LLC now owns 13,215,194 shares of the company’s stock worth $541,558,000 after buying an additional 421,291 shares during the period. BlackRock Inc. raised its position in shares of Aramark by 1.4% in the 2nd quarter. BlackRock Inc. now owns 12,627,800 shares of the company’s stock worth $517,486,000 after acquiring an additional 174,494 shares in the last quarter. Atlanta Capital Management Co. L L C raised its position in shares of Aramark by 25.2% in the 2nd quarter. Atlanta Capital Management Co. L L C now owns 9,931,393 shares of the company’s stock worth $406,989,000 after acquiring an additional 1,997,607 shares in the last quarter. Finally, State Street Corp raised its position in shares of Aramark by 5.3% in the 2nd quarter. State Street Corp now owns 4,684,792 shares of the company’s stock worth $191,980,000 after acquiring an additional 237,320 shares in the last quarter. 95.68% of the stock is currently owned by hedge funds and other institutional investors.
Several research analysts have recently weighed in on the company. BidaskClub lowered Aramark from a “sell” rating to a “strong sell” rating in a research report on Saturday, August 12th. Morgan Stanley lifted their price objective on Aramark from $39.00 to $40.00 and gave the stock an “equal weight” rating in a research report on Thursday, August 10th. Nomura reissued a “buy” rating and issued a $45.00 price objective (up from $43.00) on shares of Aramark in a research report on Wednesday, August 9th. Barclays reaffirmed a “hold” rating and issued a $45.00 target price on shares of Aramark in a research report on Thursday, October 19th. Finally, Royal Bank Of Canada boosted their target price on Aramark from $44.00 to $47.00 and gave the company an “outperform” rating in a research report on Tuesday, October 17th. Three analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. Aramark has a consensus rating of “Buy” and an average target price of $44.83.
In other Aramark news, Director Sanjeev K. Mehra bought 19,640 shares of the stock in a transaction on Thursday, November 16th. The shares were acquired at an average price of $40.75 per share, with a total value of $800,330.00. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 2.90% of the company’s stock.
Shares of Aramark (ARMK) traded up $0.07 during midday trading on Thursday, hitting $42.54. The stock had a trading volume of 889,616 shares, compared to its average volume of 1,375,407. Aramark has a 12-month low of $32.87 and a 12-month high of $44.12. The company has a debt-to-equity ratio of 2.11, a current ratio of 1.12 and a quick ratio of 0.86. The stock has a market cap of $10,394.55, a P/E ratio of 23.97, a PEG ratio of 1.80 and a beta of 0.47.
Aramark (NYSE:ARMK) last posted its quarterly earnings data on Tuesday, November 14th. The company reported $0.54 EPS for the quarter, beating the consensus estimate of $0.52 by $0.02. Aramark had a return on equity of 19.29% and a net margin of 2.56%. The business had revenue of $3.65 billion for the quarter, compared to the consensus estimate of $3.70 billion. During the same quarter in the prior year, the business earned $0.49 earnings per share. Aramark’s revenue for the quarter was up 3.1% on a year-over-year basis. research analysts expect that Aramark will post 1.96 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 7th. Shareholders of record on Monday, November 27th will be issued a dividend of $0.105 per share. This is a boost from Aramark’s previous quarterly dividend of $0.10. The ex-dividend date is Friday, November 24th. This represents a $0.42 dividend on an annualized basis and a yield of 0.99%. Aramark’s payout ratio is presently 28.19%.
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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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