Wells Fargo & Company MN reduced its holdings in shares of Aramark (NYSE:ARMK) by 24.8% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 930,851 shares of the company’s stock after selling 307,795 shares during the quarter. Wells Fargo & Company MN owned approximately 0.38% of Aramark worth $34,535,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also modified their holdings of ARMK. First Manhattan Co. lifted its holdings in Aramark by 10.3% during the 2nd quarter. First Manhattan Co. now owns 5,673,448 shares of the company’s stock valued at $210,485,000 after purchasing an additional 529,920 shares during the last quarter. TD Asset Management Inc. lifted its holdings in shares of Aramark by 25.6% during the second quarter. TD Asset Management Inc. now owns 279,828 shares of the company’s stock worth $10,381,000 after buying an additional 56,977 shares in the last quarter. Daiwa Securities Group Inc. lifted its holdings in shares of Aramark by 3.5% during the second quarter. Daiwa Securities Group Inc. now owns 150,318 shares of the company’s stock worth $5,577,000 after buying an additional 5,138 shares in the last quarter. BNP Paribas Arbitrage SA lifted its holdings in shares of Aramark by 224.5% during the second quarter. BNP Paribas Arbitrage SA now owns 200,666 shares of the company’s stock worth $7,445,000 after buying an additional 138,824 shares in the last quarter. Finally, Aurora Investment Counsel acquired a new stake in shares of Aramark during the second quarter worth $1,471,000. 93.46% of the stock is owned by institutional investors.
ARMK opened at $41.00 on Wednesday. The company has a debt-to-equity ratio of 2.74, a current ratio of 1.36 and a quick ratio of 1.03. Aramark has a fifty-two week low of $36.28 and a fifty-two week high of $46.09. The firm has a market cap of $10.01 billion, a PE ratio of 21.83 and a beta of 0.69.
Aramark (NYSE:ARMK) last issued its quarterly earnings results on Tuesday, August 7th. The company reported $0.48 EPS for the quarter, topping the Zacks’ consensus estimate of $0.43 by $0.05. Aramark had a return on equity of 17.37% and a net margin of 3.26%. The company had revenue of $3.97 billion for the quarter, compared to analysts’ expectations of $3.92 billion. sell-side analysts predict that Aramark will post 2.02 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, August 30th. Investors of record on Thursday, August 16th will be given a $0.105 dividend. This represents a $0.42 dividend on an annualized basis and a dividend yield of 1.02%. The ex-dividend date of this dividend is Wednesday, August 15th. Aramark’s payout ratio is currently 23.73%.
A number of research firms have recently weighed in on ARMK. Morgan Stanley lifted their target price on Aramark from $42.00 to $44.00 and gave the stock a “hold” rating in a report on Wednesday, August 8th. ValuEngine downgraded Aramark from a “hold” rating to a “sell” rating in a report on Friday, August 3rd. Credit Suisse Group began coverage on Aramark in a report on Friday, August 10th. They set an “outperform” rating and a $52.00 target price for the company. Robert W. Baird downgraded Aramark from an “outperform” rating to a “neutral” rating and set a $37.00 target price for the company. in a report on Wednesday, August 8th. Finally, TheStreet raised Aramark from a “c+” rating to a “b-” rating in a report on Friday, June 15th. Two analysts have rated the stock with a sell rating, three have given a hold rating and five have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $46.43.
Aramark provides food, facilities, and uniform services to education, healthcare, business and industry, sports, leisure, and corrections clients in North America and internationally. The company operates through three segments: Food and Support Services North America, Food and Support Services International, Uniform and Career Apparel.
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