Aramark (ARMK) Holdings Lifted by PNC Financial Services Group Inc.
PNC Financial Services Group Inc. raised its stake in Aramark (NYSE:ARMK) by 2.6% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 39,954 shares of the company’s stock after buying an additional 998 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Aramark were worth $1,638,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently bought and sold shares of ARMK. BlackRock Inc. lifted its position in Aramark by 4,277.8% in the first quarter. BlackRock Inc. now owns 12,453,306 shares of the company’s stock valued at $459,151,000 after buying an additional 12,168,838 shares during the last quarter. Vanguard Group Inc. lifted its position in Aramark by 3.8% in the first quarter. Vanguard Group Inc. now owns 19,369,393 shares of the company’s stock valued at $714,150,000 after buying an additional 714,510 shares during the last quarter. Principal Financial Group Inc. lifted its position in Aramark by 1,987.5% in the second quarter. Principal Financial Group Inc. now owns 737,730 shares of the company’s stock valued at $30,232,000 after buying an additional 702,390 shares during the last quarter. Point72 Asset Management L.P. acquired a new position in Aramark in the first quarter valued at about $23,154,000. Finally, Rothschild Asset Management Inc. lifted its position in Aramark by 4,199.6% in the second quarter. Rothschild Asset Management Inc. now owns 614,670 shares of the company’s stock valued at $25,189,000 after buying an additional 600,374 shares during the last quarter. 94.84% of the stock is currently owned by institutional investors.
A number of research firms have commented on ARMK. Barclays PLC upped their target price 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. BidaskClub raised shares of Aramark from a “hold” rating to a “buy” rating in a research report on Friday, June 16th. Morgan Stanley upped their target price on shares of Aramark from $39.00 to $40.00 and gave the company an “equal weight” rating in a research report on Thursday, August 10th. Nomura reaffirmed a “buy” rating and issued a $45.00 target price (up previously from $43.00) on shares of Aramark in a research report on Wednesday, August 9th. Finally, Zacks Investment Research cut shares of Aramark from a “buy” rating to a “hold” rating in a research report on Tuesday, July 11th. Four equities research analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. Aramark has a consensus rating of “Buy” and a consensus price target of $43.00.
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Shares of Aramark (NYSE:ARMK) opened at 41.13 on Thursday. The stock’s 50 day moving average is $40.32 and its 200 day moving average is $38.95. Aramark has a 12 month low of $32.73 and a 12 month high of $41.72. The firm has a market cap of $10.08 billion, a PE ratio of 29.80 and a beta of 0.47.
Aramark (NYSE:ARMK) last issued its earnings results on Tuesday, August 8th. The company reported $0.40 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.35 by $0.05. Aramark had a return on equity of 19.29% and a net margin of 2.37%. The business had revenue of $3.59 billion during the quarter, compared to analysts’ expectations of $3.61 billion. During the same quarter in the previous year, the business earned $0.34 EPS. The company’s revenue for the quarter was up .2% on a year-over-year basis. On average, analysts anticipate that Aramark will post $1.96 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Tuesday, September 5th. Stockholders of record on Wednesday, August 16th were issued a dividend of $0.103 per share. This represents a $0.41 dividend on an annualized basis and a dividend yield of 1.00%. The ex-dividend date was Monday, August 14th. Aramark’s payout ratio is currently 29.93%.
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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