CIBC Asset Management Inc Holds Position in Aramark (ARMK)
CIBC Asset Management Inc continued to hold its stake in Aramark (NYSE:ARMK) during the second quarter, Holdings Channel reports. The institutional investor owned 10,309 shares of the company’s stock at the end of the second quarter. CIBC Asset Management Inc’s holdings in Aramark were worth $422,000 at the end of the most recent quarter.
A number of other large investors have also bought and sold shares of the company. Atria Investments LLC increased its stake in Aramark by 0.8% in the second quarter. Atria Investments LLC now owns 25,185 shares of the company’s stock valued at $1,032,000 after buying an additional 209 shares in the last quarter. State of Alaska Department of Revenue increased its stake in Aramark by 6.4% in the second quarter. State of Alaska Department of Revenue now owns 17,231 shares of the company’s stock valued at $706,000 after buying an additional 1,032 shares in the last quarter. Neuberger Berman Group LLC increased its stake in Aramark by 9.7% in the first quarter. Neuberger Berman Group LLC now owns 522,500 shares of the company’s stock valued at $19,265,000 after buying an additional 46,302 shares in the last quarter. Simplex Trading LLC acquired a new stake in Aramark during the second quarter valued at about $127,000. Finally, Wellington Management Group LLP increased its stake in Aramark by 3.9% in the first quarter. Wellington Management Group LLP now owns 5,026,984 shares of the company’s stock valued at $185,345,000 after buying an additional 190,656 shares in the last quarter. Institutional investors own 95.72% of the company’s stock.
Shares of Aramark (ARMK) opened at 39.35 on Thursday. Aramark has a one year low of $32.73 and a one year high of $41.72. The company has a market capitalization of $9.64 billion, a P/E ratio of 28.51 and a beta of 0.48. The stock has a 50 day moving average price of $40.16 and a 200-day moving average price of $37.78.
Aramark (NYSE:ARMK) last announced its earnings results on Tuesday, August 8th. The company reported $0.40 earnings per share for the quarter, beating the consensus estimate of $0.35 by $0.05. Aramark had a return on equity of 19.29% and a net margin of 2.37%. The firm had revenue of $3.59 billion during the quarter, compared to the consensus estimate of $3.61 billion. During the same quarter in the prior year, the company earned $0.34 EPS. The firm’s revenue for the quarter was up .2% compared to the same quarter last year. Equities research analysts predict that Aramark will post $1.96 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 5th. Shareholders of record on Wednesday, August 16th will be issued a $0.103 dividend. The ex-dividend date is Monday, August 14th. This represents a $0.41 annualized dividend and a yield of 1.05%. Aramark’s dividend payout ratio (DPR) is 29.93%.
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Several equities research analysts have issued reports on ARMK shares. Zacks Investment Research downgraded Aramark from a “buy” rating to a “hold” rating in a report on Tuesday, July 11th. BidaskClub downgraded Aramark from a “strong-buy” rating to a “buy” rating in a report on Friday, July 7th. Nomura restated a “buy” rating and set a $45.00 price objective (up from $43.00) on shares of Aramark in a report on Wednesday, August 9th. Morgan Stanley lifted their price objective on Aramark from $39.00 to $40.00 and gave the stock an “equal weight” rating in a report on Thursday, August 10th. Finally, Deutsche Bank AG lifted their price objective on Aramark from $42.00 to $48.00 and gave the stock a “buy” rating in a report on Wednesday, May 10th. One research analyst has rated the stock with a sell rating, three have given a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $43.00.
In other Aramark news, SVP Brian P. Pressler sold 10,629 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the senior vice president now owns 14,285 shares of the company’s stock, valued at approximately $582,828. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, VP James J. Tarangelo sold 3,000 shares of the company’s stock in a transaction that occurred on Thursday, May 25th. The shares were sold at an average price of $37.15, for a total value of $111,450.00. Following the completion of the transaction, the vice president now directly owns 2,871 shares of the company’s stock, valued at approximately $106,657.65. The disclosure for this sale can be found here. In the last ninety days, insiders sold 143,629 shares of company stock valued at $5,618,413. Insiders own 2.90% of the company’s stock.
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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