Pegasus Partners Ltd. Takes Position in Aramark (ARMK)

Pegasus Partners Ltd. purchased a new position in Aramark (NYSE:ARMK) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 73,997 shares of the company’s stock, valued at approximately $3,032,000.

A number of other institutional investors have also recently bought and sold shares of ARMK. Macquarie Group Ltd. increased its position in shares of Aramark by 26.4% in the fourth quarter. Macquarie Group Ltd. now owns 145,608 shares of the company’s stock worth $5,201,000 after buying an additional 30,424 shares during the last quarter. Gulf International Bank UK Ltd increased its position in shares of Aramark by 0.7% in the first quarter. Gulf International Bank UK Ltd now owns 71,420 shares of the company’s stock worth $2,633,000 after buying an additional 500 shares during the last quarter. DnB Asset Management AS increased its position 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. Quantitative Systematic Strategies LLC bought a new position in shares of Aramark during the first quarter worth approximately $1,035,000. Finally, State of Alaska Department of Revenue increased its position 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. Institutional investors and hedge funds own 95.72% of the company’s stock.

Shares of Aramark (NYSE ARMK) opened at 38.91 on Friday. Aramark has a 12-month low of $32.73 and a 12-month high of $41.72. The company has a market cap of $9.54 billion, a PE ratio of 28.20 and a beta of 0.48. The stock’s 50 day moving average price is $40.09 and its 200-day moving average price is $37.79.

Aramark (NYSE:ARMK) last issued its quarterly earnings data on Tuesday, August 8th. The company reported $0.40 earnings per share for the quarter, topping the Thomson Reuters’ 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 company’s quarterly revenue was up .2% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.34 earnings per share. On average, equities research analysts forecast that Aramark will post $1.96 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 5th. Shareholders of record on Wednesday, August 16th will be paid a dividend of $0.103 per share. The ex-dividend date of this dividend is Monday, August 14th. This represents a $0.41 annualized dividend and a yield of 1.06%. Aramark’s dividend payout ratio is 29.93%.

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A number of equities analysts have commented on ARMK shares. BidaskClub downgraded Aramark from a “sell” rating to a “strong sell” rating in a research note on Saturday, August 12th. Zacks Investment Research downgraded Aramark from a “buy” rating to a “hold” rating in a research note on Tuesday, May 9th. Nomura restated a “buy” rating and issued a $45.00 target price (up from $43.00) on shares of Aramark in a research note on Wednesday, August 9th. Barclays PLC lifted their target price on Aramark from $37.00 to $39.00 and gave the company an “equal weight” rating in a research note on Friday, June 23rd. Finally, Morgan Stanley lifted their target price on Aramark from $39.00 to $40.00 and gave the company an “equal weight” rating in a research note on Thursday, August 10th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $43.00.

In other news, EVP Stephen R. Reynolds sold 30,000 shares of the stock in a transaction that occurred on Wednesday, June 14th. The shares were sold at an average price of $40.41, for a total transaction of $1,212,300.00. Following the sale, the executive vice president now directly owns 62,460 shares of the company’s stock, valued at $2,524,008.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP James J. Tarangelo sold 3,000 shares of the stock in a transaction that occurred on Thursday, May 25th. The shares were sold at an average price of $37.15, for a total transaction of $111,450.00. Following the sale, the vice president now directly owns 2,871 shares in the company, valued at $106,657.65. The disclosure for this sale can be found here. Insiders have sold 143,629 shares of company stock worth $5,618,413 over the last ninety days. 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).

Institutional Ownership by Quarter for Aramark (NYSE:ARMK)

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