CrestPoint Capital Management LLC continued to hold its position in shares of Aramark (NYSE:ARMK) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 13,400 shares of the company’s stock at the end of the second quarter. CrestPoint Capital Management LLC’s holdings in Aramark were worth $549,000 as of its most recent filing with the SEC.
Several other hedge funds have also made changes to their positions in the stock. Loeb Partners Corp raised its stake in shares of Aramark by 8.3% in the first quarter. Loeb Partners Corp now owns 46,850 shares of the company’s stock worth $1,728,000 after buying an additional 3,600 shares during the period. State of Alaska Department of Revenue raised its stake in shares of Aramark by 5.2% in the first quarter. State of Alaska Department of Revenue now owns 16,199 shares of the company’s stock worth $597,000 after buying an additional 798 shares during the last quarter. Quantitative Systematic Strategies LLC purchased a new stake in shares of Aramark during the first quarter worth approximately $1,035,000. DnB Asset Management AS raised its stake in shares of Aramark by 44.8% in the first quarter. DnB Asset Management AS now owns 30,400 shares of the company’s stock worth $1,121,000 after buying an additional 9,400 shares during the last quarter. Finally, Mountain Pacific Investment Advisers Inc. ID raised its stake in shares of Aramark by 16.0% in the first quarter. Mountain Pacific Investment Advisers Inc. ID now owns 444,100 shares of the company’s stock worth $16,374,000 after buying an additional 61,300 shares during the last quarter. Institutional investors own 95.94% of the company’s stock.
Aramark (NYSE ARMK) remained flat at $39.35 during trading on Friday. 1,058,792 shares of the stock traded hands. The stock has a market cap of $9.64 billion, a price-to-earnings ratio of 28.51 and a beta of 0.48. Aramark has a 12-month low of $32.73 and a 12-month high of $41.72. The stock’s 50 day moving average is $40.33 and its 200 day moving average is $37.63.
Aramark (NYSE:ARMK) last announced its quarterly earnings results on Tuesday, August 8th. The company reported $0.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.35 by $0.05. The business had revenue of $3.59 billion for the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.34 earnings per share. On average, equities research analysts expect that Aramark will post $1.96 earnings per share for the current 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 payout ratio is currently 29.93%.
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A number of brokerages recently commented on ARMK. Zacks Investment Research upgraded Aramark from a “hold” rating to a “buy” rating and set a $42.00 price objective for the company in a research report on Friday, May 12th. BidaskClub lowered Aramark from a “strong-buy” rating to a “buy” rating in a research report on Friday, July 7th. 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 report on Wednesday, May 10th. Morgan Stanley boosted their target price on Aramark from $39.00 to $40.00 and gave the stock an “equal weight” rating in a research report on Thursday. Finally, Barclays PLC boosted their target price on Aramark from $37.00 to $39.00 and gave the stock an “equal weight” rating in a research report on Friday, June 23rd. One research analyst has rated the stock with a sell rating, three have issued a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. Aramark currently has a consensus rating of “Buy” and a consensus target price of $43.00.
In other news, EVP Lynn Mckee sold 100,000 shares of the firm’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 transaction, the executive vice president now owns 304,736 shares in the company, valued at $11,765,856.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP James J. Tarangelo sold 3,000 shares of the firm’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 owns 2,871 shares in the company, valued at approximately $106,657.65. The disclosure for this sale can be found here. In the last quarter, insiders sold 143,629 shares of company stock worth $5,618,413. Corporate insiders own 2.90% of the company’s stock.
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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