Aramark (ARMK) Shares Sold by Marshall Wace North America L.P.
Marshall Wace North America L.P. reduced its holdings in shares of Aramark (NYSE:ARMK) by 88.9% in the second quarter, according to its most recent filing with the SEC. The fund owned 39,822 shares of the company’s stock after selling 317,830 shares during the period. Marshall Wace North America L.P.’s holdings in Aramark were worth $1,633,000 at the end of the most recent quarter.
Several other hedge funds have also modified their holdings of ARMK. US Bancorp DE raised its position in Aramark by 0.6% during the 1st quarter. US Bancorp DE now owns 6,417 shares of the company’s stock valued at $237,000 after purchasing an additional 41 shares in the last quarter. CAPROCK Group Inc. raised its position in Aramark by 0.8% during the 2nd quarter. CAPROCK Group Inc. now owns 5,528 shares of the company’s stock valued at $227,000 after purchasing an additional 43 shares in the last quarter. Arizona State Retirement System raised its position in Aramark by 0.3% during the 1st quarter. Arizona State Retirement System now owns 38,500 shares of the company’s stock valued at $1,419,000 after purchasing an additional 100 shares in the last quarter. Pacer Advisors Inc. raised its position in Aramark by 3.3% during the 1st quarter. Pacer Advisors Inc. now owns 4,497 shares of the company’s stock valued at $166,000 after purchasing an additional 143 shares in the last quarter. Finally, Atria Investments LLC raised its position in Aramark by 0.8% during the 2nd quarter. Atria Investments LLC now owns 25,185 shares of the company’s stock valued at $1,032,000 after purchasing an additional 209 shares in the last quarter. 94.85% of the stock is owned by hedge funds and other institutional investors.
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Aramark (NYSE ARMK) opened at 40.31 on Wednesday. Aramark has a one year low of $32.73 and a one year high of $41.72. The stock has a 50 day moving average price of $39.92 and a 200-day moving average price of $38.31. The stock has a market capitalization of $9.88 billion, a P/E ratio of 29.21 and a beta of 0.48.
Aramark (NYSE:ARMK) last announced its quarterly earnings data on Tuesday, August 8th. The company reported $0.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.35 by $0.05. The business had revenue of $3.59 billion for the quarter, compared to analysts’ expectations of $3.61 billion. Aramark had a return on equity of 19.29% and a net margin of 2.37%. The company’s revenue for the quarter was up .2% compared to the same quarter last year. During the same period last year, the firm earned $0.34 earnings per share. Analysts anticipate that Aramark will post $1.96 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 5th. Stockholders of record on Wednesday, August 16th were paid a $0.103 dividend. This represents a $0.41 annualized dividend and a dividend yield of 1.02%. The ex-dividend date was Monday, August 14th. Aramark’s payout ratio is currently 29.93%.
In other news, SVP Brian P. Pressler sold 10,629 shares of the stock in a transaction on Friday, June 16th. The stock was sold at an average price of $40.80, for a total value of $433,663.20. Following the sale, the senior vice president now directly owns 14,285 shares in the company, valued at $582,828. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Stephen R. Reynolds sold 30,000 shares of the 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 transaction, the executive vice president now directly owns 62,460 shares in the company, valued at approximately $2,524,008.60. The disclosure for this sale can be found here. 2.90% of the stock is currently owned by company insiders.
A number of equities research analysts have weighed in on ARMK shares. BidaskClub lowered Aramark from a “sell” rating to a “strong sell” rating in a research report on Saturday, August 12th. Zacks Investment Research lowered Aramark from a “buy” rating to a “hold” rating in a research report on Tuesday, May 9th. Nomura reaffirmed a “buy” rating and set a $45.00 target price (up from $43.00) on shares of Aramark in a research report on Wednesday, August 9th. Barclays PLC lifted their target price on Aramark from $37.00 to $39.00 and gave the company an “equal weight” rating in a research report on Friday, June 23rd. Finally, Morgan Stanley lifted their target price on Aramark from $39.00 to $40.00 and gave the company an “equal weight” rating in a research report on Thursday, August 10th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. Aramark currently has a consensus rating of “Buy” and a consensus price target of $42.86.
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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