Highlander Capital Management LLC Acquires Shares of 5,000 Aramark (ARMK)
Highlander Capital Management LLC acquired a new stake in shares of Aramark (NYSE:ARMK) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 5,000 shares of the company’s stock, valued at approximately $203,000.
Other institutional investors have also recently modified their holdings of the company. Toronto Dominion Bank lifted its holdings in shares of Aramark by 19.0% in the 2nd quarter. Toronto Dominion Bank now owns 3,027 shares of the company’s stock valued at $124,000 after acquiring an additional 483 shares during the last quarter. Advisor Group Inc. lifted its holdings in shares of Aramark by 85.7% in the 3rd quarter. Advisor Group Inc. now owns 3,342 shares of the company’s stock valued at $136,000 after acquiring an additional 1,542 shares during the last quarter. Acrospire Investment Management LLC lifted its holdings in shares of Aramark by 98.5% in the 2nd quarter. Acrospire Investment Management LLC now owns 3,628 shares of the company’s stock valued at $149,000 after acquiring an additional 1,800 shares during the last quarter. Pacer Advisors Inc. lifted its holdings in shares of Aramark by 8.3% in the 2nd quarter. Pacer Advisors Inc. now owns 4,871 shares of the company’s stock valued at $200,000 after acquiring an additional 374 shares during the last quarter. Finally, HighTower Advisors LLC bought a new position in shares of Aramark in the 2nd quarter valued at about $208,000. Hedge funds and other institutional investors own 95.68% of the company’s stock.
In other news, Director Sanjeev K. Mehra purchased 19,640 shares of the business’s stock in a transaction on Thursday, November 16th. The shares were acquired at an average cost of $40.75 per share, with a total value of $800,330.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 2.90% of the stock is currently owned by insiders.
Aramark (NYSE:ARMK) last issued its quarterly earnings data on Tuesday, November 14th. The company reported $0.54 earnings per share (EPS) for the quarter, beating 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 company had revenue of $3.65 billion for the quarter, compared to analyst estimates of $3.70 billion. During the same period last year, the company posted $0.49 earnings per share. Aramark’s revenue was up 3.1% compared to the same quarter last year. equities analysts predict that Aramark will post 1.96 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Thursday, December 7th. Shareholders of record on Monday, November 27th were issued a $0.105 dividend. This is a positive change from Aramark’s previous quarterly dividend of $0.10. This represents a $0.42 annualized dividend and a yield of 0.98%. The ex-dividend date of this dividend was Friday, November 24th. Aramark’s payout ratio is currently 28.19%.
A number of research analysts recently commented on ARMK shares. Zacks Investment Research downgraded shares of Aramark from a “hold” rating to a “strong sell” rating in a report on Wednesday, October 18th. Nomura decreased their price objective on shares of Aramark from $47.00 to $45.00 and set a “buy” rating for the company in a research note on Wednesday, November 15th. Royal Bank of Canada reissued a “buy” rating on shares of Aramark in a research note on Thursday, October 5th. BidaskClub raised shares of Aramark from a “hold” rating to a “buy” rating in a research note on Wednesday, October 18th. Finally, Barclays reissued a “hold” rating and issued a $45.00 price objective on shares of Aramark in a research note on Thursday, October 19th. Three analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. Aramark presently has a consensus rating of “Buy” and a consensus price target of $44.83.
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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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