Bank of America Corp DE increased its stake in shares of Aramark (NYSE:ARMK) by 5.3% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 1,302,910 shares of the company’s stock after buying an additional 65,676 shares during the quarter. Bank of America Corp DE’s holdings in Aramark were worth $48,338,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Quantitative Systematic Strategies LLC acquired a new stake in shares of Aramark during the second quarter worth approximately $1,335,000. Private Advisor Group LLC boosted its holdings in shares of Aramark by 951.0% during the second quarter. Private Advisor Group LLC now owns 99,580 shares of the company’s stock worth $3,695,000 after purchasing an additional 90,105 shares during the period. Sei Investments Co. boosted its holdings in shares of Aramark by 1.1% during the second quarter. Sei Investments Co. now owns 275,421 shares of the company’s stock worth $10,218,000 after purchasing an additional 2,994 shares during the period. Sarasin & Partners LLP boosted its holdings in shares of Aramark by 7.3% during the second quarter. Sarasin & Partners LLP now owns 1,139,852 shares of the company’s stock worth $42,289,000 after purchasing an additional 77,821 shares during the period. Finally, Toronto Dominion Bank boosted its holdings in shares of Aramark by 1,234.3% during the second quarter. Toronto Dominion Bank now owns 223,802 shares of the company’s stock worth $8,300,000 after purchasing an additional 207,029 shares during the period. Institutional investors and hedge funds own 98.03% of the company’s stock.

In related news, EVP Stephen R. Reynolds sold 15,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 29th. The shares were sold at an average price of $41.33, for a total transaction of $619,950.00. Following the transaction, the executive vice president now owns 47,058 shares of the company’s stock, valued at $1,944,907.14. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 2.90% of the stock is currently owned by company insiders.

Several analysts recently commented on the stock. Robert W. Baird cut shares of Aramark from an “outperform” rating to a “neutral” rating and set a $37.00 price target for the company. in a report on Wednesday, August 8th. ValuEngine upgraded shares of Aramark from a “sell” rating to a “hold” rating in a report on Friday, July 20th. Morgan Stanley restated a “hold” rating and set a $45.00 price target (up from $44.00) on shares of Aramark in a report on Thursday, September 13th. TheStreet raised shares of Aramark from a “c+” rating to a “b-” rating in a research report on Friday, June 15th. Finally, Zacks Investment Research raised shares of Aramark from a “sell” rating to a “hold” rating in a research report on Wednesday, August 22nd. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and six have assigned a buy rating to the stock. Aramark has a consensus rating of “Hold” and a consensus price target of $47.88.

Shares of ARMK opened at $42.97 on Monday. The company has a market cap of $10.59 billion, a P/E ratio of 24.28 and a beta of 0.69. The company has a debt-to-equity ratio of 2.74, a quick ratio of 1.03 and a current ratio of 1.36. Aramark has a twelve month low of $36.28 and a twelve month high of $46.09.

Aramark (NYSE:ARMK) last issued its quarterly earnings data on Tuesday, August 7th. The company reported $0.48 earnings per share for the quarter, beating the consensus estimate of $0.43 by $0.05. The firm had revenue of $3.97 billion for the quarter, compared to analyst estimates of $3.92 billion. Aramark had a net margin of 3.26% and a return on equity of 17.37%. analysts predict that Aramark will post 1.99 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 30th. Investors of record on Thursday, August 16th were given a dividend of $0.105 per share. This represents a $0.42 annualized dividend and a yield of 0.98%. The ex-dividend date was Wednesday, August 15th. Aramark’s payout ratio is presently 23.73%.

Aramark Profile

Aramark provides food, facilities, and uniform services to education, healthcare, business and industry, sports, leisure, and corrections clients in North America and internationally. The company operates through three segments: Food and Support Services North America, Food and Support Services International, Uniform and Career Apparel.

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Institutional Ownership by Quarter for Aramark (NYSE:ARMK)

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