Legal & General Group Plc raised its position in shares of Aramark (NYSE:ARMK) by 197.8% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,128,918 shares of the company’s stock after buying an additional 749,812 shares during the period. Legal & General Group Plc owned about 0.46% of Aramark worth $45,843,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Schwab Charles Investment Management Inc. increased its holdings in shares of Aramark by 59.7% in the second quarter. Schwab Charles Investment Management Inc. now owns 1,502,775 shares of the company’s stock valued at $61,584,000 after purchasing an additional 562,055 shares in the last quarter. Capital Fund Management S.A. boosted its stake in Aramark by 34.0% in the second quarter. Capital Fund Management S.A. now owns 199,712 shares of the company’s stock valued at $8,184,000 after acquiring an additional 50,718 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in Aramark by 3.7% in the second quarter. Bank of New York Mellon Corp now owns 1,344,658 shares of the company’s stock valued at $55,104,000 after acquiring an additional 48,091 shares during the last quarter. Goldman Sachs Group Inc. boosted its stake in Aramark by 2.4% in the second quarter. Goldman Sachs Group Inc. now owns 1,898,636 shares of the company’s stock valued at $77,806,000 after acquiring an additional 43,708 shares during the last quarter. Finally, State Board of Administration of Florida Retirement System boosted its stake in Aramark by 8.9% in the second quarter. State Board of Administration of Florida Retirement System now owns 197,011 shares of the company’s stock valued at $8,074,000 after acquiring an additional 16,150 shares during the last quarter. 95.68% of the stock is owned by institutional investors.
In other news, Director Sanjeev K. Mehra purchased 19,640 shares of Aramark stock in a transaction dated Thursday, November 16th. The shares were bought at an average cost of $40.75 per share, with a total value of $800,330.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 2.90% of the company’s stock.
Aramark (NYSE:ARMK) last announced its quarterly earnings results on Tuesday, November 14th. The company reported $0.54 earnings per share for the quarter, topping analysts’ consensus estimates of $0.52 by $0.02. The company had revenue of $3.65 billion for the quarter, compared to analysts’ expectations of $3.70 billion. Aramark had a net margin of 2.56% and a return on equity of 19.29%. The business’s quarterly revenue was up 3.1% compared to the same quarter last year. During the same period last year, the firm posted $0.49 earnings per share. research analysts anticipate that Aramark will post 1.96 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, December 7th. Stockholders of record on Monday, November 27th will be given a dividend of $0.105 per share. This represents a $0.42 dividend on an annualized basis and a dividend yield of 0.99%. This is a boost from Aramark’s previous quarterly dividend of $0.10. The ex-dividend date of this dividend is Friday, November 24th. Aramark’s dividend payout ratio (DPR) is currently 28.19%.
A number of brokerages have issued reports on ARMK. Zacks Investment Research cut shares of Aramark from a “hold” rating to a “strong sell” rating in a research note on Wednesday, October 18th. Morgan Stanley raised their price objective on shares of Aramark from $39.00 to $40.00 and gave the company an “equal weight” rating in a research note on Thursday, August 10th. Nomura reaffirmed a “buy” rating and issued a $45.00 price objective (up from $43.00) on shares of Aramark in a research note on Wednesday, August 9th. Barclays reaffirmed a “hold” rating and issued a $45.00 price objective on shares of Aramark in a research note on Thursday, October 19th. Finally, Royal Bank Of Canada raised their price objective on shares of Aramark from $44.00 to $47.00 and gave the company an “outperform” rating in a research note on Tuesday, October 17th. Three research analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $44.83.
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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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