Aramark (ARMK) Stake Increased by Pacer Advisors Inc.
Pacer Advisors Inc. raised its stake in Aramark (NYSE:ARMK) by 3.3% during the first quarter, Holdings Channel reports. The fund owned 4,497 shares of the company’s stock after buying an additional 143 shares during the period. Pacer Advisors Inc.’s holdings in Aramark were worth $166,000 as of its most recent filing with the SEC.
A number of other large investors have also bought and sold shares of ARMK. Israel Discount Bank of New York GFN acquired a new stake in Aramark during the fourth quarter valued at $102,000. Seven Eight Capital LP acquired a new stake in Aramark during the fourth quarter valued at $142,000. CAPROCK Group Inc. acquired a new stake in Aramark during the first quarter valued at $202,000. Boothbay Fund Management LLC acquired a new stake in Aramark during the fourth quarter valued at $214,000. Finally, Mn Services Vermogensbeheer B.V. boosted its stake in Aramark by 6.8% in the first quarter. Mn Services Vermogensbeheer B.V. now owns 6,201 shares of the company’s stock valued at $214,000 after buying an additional 395 shares during the last quarter. Hedge funds and other institutional investors own 95.27% of the company’s stock.
Shares of Aramark (ARMK) opened at 40.84 on Friday. The stock has a market cap of $9.97 billion, a PE ratio of 31.37 and a beta of 0.50. The firm has a 50-day moving average price of $37.79 and a 200-day moving average price of $36.18. Aramark has a 52 week low of $31.38 and a 52 week high of $40.96.
Aramark (NYSE:ARMK) last released its earnings results on Tuesday, May 9th. The company reported $0.45 EPS for the quarter, topping analysts’ consensus estimates of $0.37 by $0.08. Aramark had a return on equity of 19.13% and a net margin of 2.23%. The company had revenue of $3.62 billion for the quarter, compared to the consensus estimate of $3.63 billion. During the same quarter last year, the business posted $0.39 EPS. Aramark’s quarterly revenue was up 1.3% compared to the same quarter last year. On average, analysts forecast that Aramark will post $1.96 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Tuesday, June 6th. Shareholders of record on Wednesday, May 17th were issued a dividend of $0.103 per share. This represents a $0.41 dividend on an annualized basis and a yield of 1.01%. The ex-dividend date was Monday, May 15th. Aramark’s dividend payout ratio is presently 31.78%.
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Several equities research analysts recently weighed in on the company. Zacks Investment Research upgraded Aramark from a “hold” rating to a “buy” rating and set a $42.00 target price for the company in a research note on Friday, May 12th. BidaskClub upgraded Aramark from a “hold” rating to a “buy” rating in a research note on Friday. Deutsche Bank AG boosted their target price on Aramark from $42.00 to $48.00 and gave the stock a “buy” rating in a research note on Wednesday, May 10th. Finally, Goldman Sachs Group, Inc. (The) upgraded Aramark from a “buy” rating to a “conviction-buy” rating and set a $44.00 target price for the company in a research note on Thursday, March 2nd. Two investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. Aramark presently has an average rating of “Buy” and an average price target of $42.70.
In other Aramark news, EVP Stephen R. Reynolds sold 30,000 shares of the stock in a transaction that occurred on Wednesday, June 14th. The stock was sold at an average price of $40.41, for a total transaction of $1,212,300.00. Following the transaction, the executive vice president now owns 62,460 shares of the company’s stock, valued at approximately $2,524,008.60. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Lynn Mckee sold 100,000 shares of the 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 transaction, the executive vice president now directly owns 304,736 shares in the company, valued at approximately $11,765,856.96. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 133,000 shares of company stock worth $5,184,750. 2.90% of the stock is currently owned by company insiders.
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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