Reinhart Partners Inc. acquired a new position in Aramark (NYSE:ARMK) during the second quarter, according to its most recent filing with the SEC. The firm acquired 456,630 shares of the company’s stock, valued at approximately $18,713,000. Reinhart Partners Inc. owned approximately 0.19% of Aramark at the end of the most recent quarter.
Several other hedge funds have also added to or reduced their stakes in the company. Israel Discount Bank of New York acquired a new stake in Aramark during the first quarter worth $103,000. FNY Managed Accounts LLC acquired a new stake in Aramark during the first quarter worth $110,000. Simplex Trading LLC acquired a new stake in Aramark during the second quarter worth $127,000. Pacer Advisors Inc. raised its stake in Aramark by 3.3% in the first quarter. Pacer Advisors Inc. now owns 4,497 shares of the company’s stock worth $166,000 after buying an additional 143 shares during the last quarter. Finally, Capstone Asset Management Co. acquired a new stake in Aramark during the second quarter worth $208,000. Hedge funds and other institutional investors own 95.94% of the company’s stock.
Shares of Aramark (ARMK) remained flat at $39.35 during mid-day trading on Friday. 1,058,792 shares of the stock traded hands. Aramark has a 52 week low of $32.73 and a 52 week high of $41.72. The firm has a 50-day moving average of $40.33 and a 200 day moving average of $37.63. The firm has a market capitalization of $9.64 billion, a price-to-earnings ratio of 28.51 and a beta of 0.48.
Aramark (NYSE:ARMK) last issued its quarterly earnings data on Tuesday, August 8th. The company reported $0.40 EPS for the quarter, beating the Zacks’ consensus estimate of $0.35 by $0.05. The firm had revenue of $3.59 billion for the quarter, compared to analysts’ expectations of $3.61 billion. Aramark had a net margin of 2.37% and a return on equity of 19.29%. The firm’s revenue was up .2% on a year-over-year basis. During the same period in the prior year, the company earned $0.34 EPS. Equities research analysts anticipate that Aramark will post $1.96 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 5th. Investors of record on Wednesday, August 16th will be paid a $0.103 dividend. The ex-dividend date is Monday, August 14th. This represents a $0.41 dividend on an annualized basis and a yield of 1.05%. Aramark’s payout ratio is 29.93%.
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Several analysts recently commented on the stock. Nomura restated a “buy” rating and set a $45.00 price target (up previously from $43.00) on shares of Aramark in a research report on Wednesday. Morgan Stanley raised their price target on shares of Aramark from $39.00 to $40.00 and gave the company an “equal weight” rating in a research report on Thursday. Zacks Investment Research lowered shares of Aramark from a “buy” rating to a “hold” rating in a research report on Tuesday, May 9th. BidaskClub upgraded shares of Aramark from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, June 28th. Finally, Barclays PLC raised their price target on shares of Aramark from $37.00 to $39.00 and gave the company an “equal weight” rating in a research report on Friday, June 23rd. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $43.10.
In related news, VP James J. Tarangelo sold 3,000 shares of the stock in a transaction dated Thursday, May 25th. The shares were sold at an average price of $37.15, for a total value of $111,450.00. Following the sale, the vice president now directly owns 2,871 shares of the company’s stock, valued at approximately $106,657.65. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, SVP Brian P. Pressler sold 10,629 shares of the stock in a transaction dated Friday, June 16th. The shares were sold at an average price of $40.80, for a total transaction of $433,663.20. Following the completion of the sale, the senior vice president now directly owns 14,285 shares in the company, valued at $582,828. The disclosure for this sale can be found here. Over the last three months, insiders sold 143,629 shares of company stock worth $5,618,413. 2.90% of the stock is owned by corporate 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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