Aramark (ARMK) Stake Raised by State of Wisconsin Investment Board
State of Wisconsin Investment Board increased its stake in Aramark (NYSE:ARMK) by 36.6% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 211,865 shares of the company’s stock after buying an additional 56,720 shares during the period. State of Wisconsin Investment Board owned about 0.09% of Aramark worth $8,682,000 at the end of the most recent quarter.
A number of other hedge funds also recently bought and sold shares of the company. Israel Discount Bank of New York bought a new stake in Aramark during the first quarter valued at about $103,000. FNY Managed Accounts LLC acquired a new position in Aramark during the first quarter valued at $110,000. Simplex Trading LLC acquired a new position in Aramark during the second quarter valued at $127,000. Pacer Advisors Inc. boosted its position in Aramark by 3.3% in the first quarter. Pacer Advisors Inc. now owns 4,497 shares of the company’s stock valued at $166,000 after buying an additional 143 shares during the period. Finally, Parametrica Management Ltd acquired a new position in Aramark during the second quarter valued at $202,000. Hedge funds and other institutional investors own 95.72% of the company’s stock.
Shares of Aramark (NYSE ARMK) opened at 39.94 on Friday. The company has a market cap of $9.79 billion, a PE ratio of 28.94 and a beta of 0.48. The company has a 50 day moving average price of $39.91 and a 200 day moving average price of $38.04. Aramark has a 52 week low of $32.73 and a 52 week high of $41.72.
Aramark (NYSE:ARMK) last issued its quarterly earnings data on Tuesday, August 8th. The company reported $0.40 EPS for the quarter, topping the consensus estimate of $0.35 by $0.05. The firm had revenue of $3.59 billion during the quarter, compared to the consensus estimate of $3.61 billion. Aramark had a return on equity of 19.29% and a net margin of 2.37%. The company’s quarterly revenue was up .2% compared to the same quarter last year. During the same period in the prior year, the business posted $0.34 earnings per share. On average, equities analysts expect that Aramark will post $1.96 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 5th. Stockholders of record on Wednesday, August 16th will be issued a $0.103 dividend. This represents a $0.41 annualized dividend and a dividend yield of 1.03%. The ex-dividend date of this dividend is Monday, August 14th. Aramark’s dividend payout ratio is presently 29.93%.
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Several equities analysts have weighed in on ARMK shares. Zacks Investment Research cut Aramark from a “buy” rating to a “hold” rating in a research note on Tuesday, July 11th. BidaskClub cut Aramark from a “strong-buy” rating to a “buy” rating in a research note on Friday, July 7th. 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 note on Thursday, August 10th. Nomura reaffirmed a “buy” rating and set a $45.00 target price (up previously from $43.00) on shares of Aramark in a research note on Wednesday, August 9th. Finally, Deutsche Bank AG lifted their target price on Aramark from $42.00 to $48.00 and gave the company a “buy” rating in a research note on Wednesday, May 10th. One research analyst has rated the stock with a sell rating, three have given a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company. Aramark has a consensus rating of “Buy” and a consensus price target of $42.86.
In other news, EVP Lynn Mckee sold 100,000 shares of the company’s stock in a transaction that occurred on Friday, June 2nd. The stock was sold at an average price of $38.61, for a total value of $3,861,000.00. Following the completion of the transaction, the executive vice president now directly owns 304,736 shares of the company’s stock, valued at $11,765,856.96. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, SVP Brian P. Pressler sold 10,629 shares of the company’s stock in a transaction that occurred on Friday, June 16th. The shares were 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 directly owns 14,285 shares of the company’s stock, valued at $582,828. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 140,629 shares of company stock valued at $5,506,963. 2.90% of the stock is currently owned by corporate insiders.
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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