Point72 Hong Kong Ltd Buys 2,271 Shares of Aramark (NYSE:ARMK)
Point72 Hong Kong Ltd grew its stake in shares of Aramark (NYSE:ARMK) by 41.8% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 7,710 shares of the company’s stock after acquiring an additional 2,271 shares during the quarter. Point72 Hong Kong Ltd’s holdings in Aramark were worth $335,000 as of its most recent SEC filing.
Several other hedge funds have also made changes to their positions in the stock. Mantle Ridge LP bought a new position in shares of Aramark in the third quarter valued at approximately $104,418,000. Redpoint Investment Management Pty Ltd purchased a new position in shares of Aramark in the third quarter valued at $200,000. Man Group plc grew its position in shares of Aramark by 38.5% in the third quarter. Man Group plc now owns 195,385 shares of the company’s stock valued at $8,515,000 after purchasing an additional 54,263 shares in the last quarter. Public Employees Retirement System of Ohio grew its position in shares of Aramark by 0.5% in the third quarter. Public Employees Retirement System of Ohio now owns 83,586 shares of the company’s stock valued at $3,643,000 after purchasing an additional 404 shares in the last quarter. Finally, Parametric Portfolio Associates LLC grew its position in shares of Aramark by 8.7% in the third quarter. Parametric Portfolio Associates LLC now owns 379,276 shares of the company’s stock valued at $16,529,000 after purchasing an additional 30,443 shares in the last quarter. Institutional investors and hedge funds own 97.93% of the company’s stock.
In other news, Director Greg Creed purchased 3,000 shares of the company’s stock in a transaction on Monday, March 2nd. The stock was purchased at an average price of $34.30 per share, with a total value of $102,900.00. Following the completion of the purchase, the director now directly owns 3,488 shares in the company, valued at approximately $119,638.40. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Stephen I. Sadove purchased 5,000 shares of the company’s stock in a transaction on Monday, March 23rd. The shares were purchased at an average cost of $17.75 per share, with a total value of $88,750.00. Following the purchase, the director now owns 3,488 shares of the company’s stock, valued at $61,912. The disclosure for this purchase can be found here. Over the last 90 days, insiders have purchased 71,400 shares of company stock valued at $1,722,168. 10.30% of the stock is owned by company insiders.
Aramark (NYSE:ARMK) last announced its quarterly earnings data on Tuesday, February 4th. The company reported $0.62 EPS for the quarter, beating the Zacks’ consensus estimate of $0.55 by $0.07. Aramark had a return on equity of 16.88% and a net margin of 2.12%. The firm had revenue of $4.25 billion during the quarter, compared to analysts’ expectations of $4.30 billion. During the same quarter last year, the firm posted $0.63 earnings per share. The company’s revenue for the quarter was down .3% compared to the same quarter last year. On average, sell-side analysts anticipate that Aramark will post 1.84 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Thursday, February 27th. Investors of record on Thursday, February 13th were given a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a yield of 2.23%. The ex-dividend date of this dividend was Wednesday, February 12th. Aramark’s payout ratio is 19.64%.
Several brokerages have recently weighed in on ARMK. Barclays reiterated a “hold” rating and issued a $20.00 price target on shares of Aramark in a research report on Thursday, March 19th. Citigroup upgraded Aramark from a “sell” rating to a “buy” rating and reduced their target price for the stock from $39.00 to $30.00 in a research report on Monday. Sanford C. Bernstein upgraded Aramark from a “market perform” rating to an “outperform” rating in a research report on Thursday, March 5th. TheStreet cut Aramark from a “b-” rating to a “c+” rating in a research report on Monday, March 9th. Finally, Jefferies Financial Group started coverage on Aramark in a research report on Wednesday, November 27th. They set a “hold” rating and a $49.00 target price for the company. One research analyst has rated the stock with a sell rating, six have issued a hold rating and six have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $40.64.
Aramark provides food, facilities management, and uniform services to education, healthcare, business and industry, sports, leisure, and corrections clients in North America and internationally. It operates in three segments: Food and Support Services United States, Food and Support Services International, and Uniform and Career Apparel.
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