Aramark (ARMK) Stake Cut by Vaughan Nelson Investment Management L.P.
Vaughan Nelson Investment Management L.P. cut its position in Aramark (NYSE:ARMK) by 5.2% during the second quarter, Holdings Channel reports. The fund owned 1,629,465 shares of the company’s stock after selling 90,025 shares during the period. Vaughan Nelson Investment Management L.P.’s holdings in Aramark were worth $66,777,000 at the end of the most recent quarter.
A number of other institutional investors also recently added to or reduced their stakes in ARMK. Israel Discount Bank of New York bought a new position in Aramark during the first quarter worth about $103,000. FNY Managed Accounts LLC acquired a new stake in shares of Aramark during the first quarter worth $110,000. Simplex Trading LLC acquired a new stake in shares of Aramark during the second quarter worth $127,000. Pacer Advisors Inc. boosted its stake in shares of 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 period. Finally, CAPROCK Group Inc. acquired a new stake in shares of Aramark during the first quarter worth $202,000. 95.25% of the stock is owned by institutional investors.
Shares of Aramark (NYSE ARMK) opened at 40.39 on Monday. Aramark has a 12-month low of $32.73 and a 12-month high of $41.72. The stock has a market cap of $9.86 billion, a PE ratio of 31.02 and a beta of 0.49. The stock’s 50 day moving average is $38.92 and its 200-day moving average is $36.55.
Aramark (NYSE:ARMK) last released its earnings results on Tuesday, May 9th. The company reported $0.45 earnings per share for the quarter, topping the consensus estimate of $0.37 by $0.08. The company had revenue of $3.62 billion for the quarter, compared to the consensus estimate of $3.63 billion. Aramark had a net margin of 2.23% and a return on equity of 19.13%. Aramark’s revenue was up 1.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.39 EPS. Equities analysts expect that Aramark will post $1.96 EPS for the current year.
ARMK has been the topic of a number of recent research reports. BidaskClub upgraded shares of Aramark from a “hold” rating to a “buy” rating in a report on Friday, June 16th. Zacks Investment Research upgraded shares of Aramark from a “hold” rating to a “buy” rating and set a $42.00 price objective on the stock in a report on Friday, May 12th. Deutsche Bank AG upped their price objective on shares of Aramark from $42.00 to $48.00 and gave the stock a “buy” rating in a report on Wednesday, May 10th. Finally, Barclays PLC upped their price objective on shares of Aramark from $37.00 to $39.00 and gave the stock an “equal weight” rating in a report on Friday, June 23rd. Three research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. Aramark currently has a consensus rating of “Buy” and an average target price of $42.90.
In other Aramark news, EVP Lynn Mckee sold 100,000 shares of the business’s stock in a transaction that occurred on Friday, June 2nd. The shares were sold at an average price of $38.61, for a total transaction of $3,861,000.00. Following the sale, the executive vice president now owns 304,736 shares of the company’s stock, valued at approximately $11,765,856.96. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, SVP Brian P. Pressler sold 10,629 shares of the business’s stock in a transaction that occurred on Friday, June 16th. The stock was sold at an average price of $40.80, for a total transaction of $433,663.20. Following the sale, the senior vice president now directly owns 14,285 shares in the company, valued at approximately $582,828. The disclosure for this sale can be found here. In the last three months, insiders have sold 143,629 shares of company stock worth $5,618,413. 2.90% of the stock is owned by insiders.
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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