JPMorgan Chase & Co. Sells 201,950 Shares of Aramark (ARMK)
JPMorgan Chase & Co. reduced its holdings in Aramark (NYSE:ARMK) by 11.0% in the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 1,634,398 shares of the company’s stock after selling 201,950 shares during the quarter. JPMorgan Chase & Co. owned approximately 0.67% of Aramark worth $66,111,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Vanguard Group Inc. boosted its stake in shares of Aramark by 2.6% in the 2nd quarter. Vanguard Group Inc. now owns 19,876,655 shares of the company’s stock valued at $814,546,000 after purchasing an additional 507,262 shares during the last quarter. FMR LLC boosted its stake in shares of Aramark by 3.3% in the 2nd quarter. FMR LLC now owns 13,215,194 shares of the company’s stock valued at $541,558,000 after purchasing an additional 421,291 shares during the last quarter. BlackRock Inc. boosted its stake in shares of Aramark by 1.4% in the 2nd quarter. BlackRock Inc. now owns 12,627,800 shares of the company’s stock valued at $517,486,000 after purchasing an additional 174,494 shares during the last quarter. Atlanta Capital Management Co. L L C boosted its stake 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 valued at $406,989,000 after purchasing an additional 1,997,607 shares during the last quarter. Finally, State Street Corp boosted its stake in Aramark by 5.3% during the second 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. Hedge funds and other institutional investors own 95.68% of the company’s stock.
In other Aramark news, Director Sanjeev K. Mehra acquired 19,640 shares of the company’s stock in a transaction on Thursday, November 16th. The shares were purchased at an average cost of $40.75 per share, with a total value of $800,330.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 2.90% of the stock is currently owned by company insiders.
ARMK has been the topic of several research analyst reports. Nomura cut their target price on shares of Aramark from $47.00 to $45.00 and set a “buy” rating on the stock in a research note on Wednesday, November 15th. BidaskClub raised shares of Aramark from a “sell” rating to a “hold” rating in a research note on Saturday, September 23rd. Royal Bank Of Canada reissued a “buy” rating on shares of Aramark in a research note on Thursday, October 5th. Zacks Investment Research raised shares of Aramark from a “sell” rating to a “hold” rating in a research note on Wednesday, November 22nd. Finally, Barclays reissued a “hold” rating and set a $45.00 target price on shares of Aramark in a research note on Thursday, October 19th. Three analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $44.83.
Aramark (ARMK) opened at $42.47 on Thursday. The stock has a market cap of $10,394.55, a price-to-earnings ratio of 23.97, a P/E/G ratio of 1.80 and a beta of 0.47. 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 quick ratio of 0.86 and a current ratio of 1.12.
Aramark (NYSE:ARMK) last issued its earnings results on Tuesday, November 14th. The company reported $0.54 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.52 by $0.02. Aramark had a net margin of 2.56% and a return on equity of 19.29%. The business had revenue of $3.65 billion for the quarter, compared to analyst estimates of $3.70 billion. During the same period in the prior year, the firm earned $0.49 earnings per share. Aramark’s revenue was up 3.1% on a year-over-year basis. analysts predict that Aramark will post 1.96 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 7th. Shareholders of record on Monday, November 27th will be paid a $0.105 dividend. This represents a $0.42 dividend on an annualized basis and a dividend yield of 0.99%. This is a positive change from Aramark’s previous quarterly dividend of $0.10. The ex-dividend date of this dividend is Friday, November 24th. Aramark’s dividend payout ratio (DPR) is 28.19%.
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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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