First Mercantile Trust Co. Cuts Stake in Aramark (NYSE:ARMK)
First Mercantile Trust Co. lowered its position in Aramark (NYSE:ARMK) by 7.6% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 12,685 shares of the company’s stock after selling 1,048 shares during the period. First Mercantile Trust Co.’s holdings in Aramark were worth $520,000 at the end of the most recent reporting period.
Several other large investors have also added to or reduced their stakes in ARMK. US Bancorp DE raised its stake in Aramark by 0.6% in the first quarter. US Bancorp DE now owns 6,417 shares of the company’s stock worth $237,000 after buying an additional 41 shares during the last quarter. CAPROCK Group Inc. raised its stake in shares of Aramark by 0.8% in the second quarter. CAPROCK Group Inc. now owns 5,528 shares of the company’s stock worth $227,000 after buying an additional 43 shares in the last quarter. Arizona State Retirement System raised its stake in shares of Aramark by 0.3% in the first quarter. Arizona State Retirement System now owns 38,500 shares of the company’s stock worth $1,419,000 after buying an additional 100 shares in the last quarter. Pacer Advisors Inc. raised 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 in the last quarter. Finally, Atria Investments LLC raised its stake in shares of Aramark by 0.8% in the second quarter. Atria Investments LLC now owns 25,185 shares of the company’s stock worth $1,032,000 after buying an additional 209 shares in the last quarter. 95.72% of the stock is owned by institutional investors and hedge funds.
Aramark (ARMK) opened at 39.25 on Tuesday. The stock has a market cap of $9.62 billion, a price-to-earnings ratio of 28.44 and a beta of 0.48. Aramark has a 52 week low of $32.73 and a 52 week high of $41.72. The firm’s 50-day moving average is $40.27 and its 200 day moving average is $37.73.
Aramark (NYSE:ARMK) last posted its quarterly earnings results on Tuesday, August 8th. The company reported $0.40 EPS for the quarter, beating the consensus estimate of $0.35 by $0.05. The company had revenue of $3.59 billion during the quarter, compared to analysts’ expectations of $3.61 billion. Aramark had a return on equity of 19.29% and a net margin of 2.37%. The firm’s revenue was up .2% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.34 EPS. On average, equities research analysts expect that Aramark will post $1.96 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 5th. Shareholders of record on Wednesday, August 16th will be issued a $0.103 dividend. This represents a $0.41 annualized dividend and a yield of 1.05%. The ex-dividend date is Monday, August 14th. Aramark’s dividend payout ratio (DPR) is 29.93%.
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A number of brokerages recently issued reports on ARMK. BidaskClub raised shares of Aramark from a “buy” rating to a “strong-buy” rating in a report on Wednesday, June 28th. Barclays PLC upped their price objective on shares of Aramark from $37.00 to $39.00 and gave the company an “equal weight” rating in a report on Friday, June 23rd. Nomura reissued a “buy” rating and issued a $45.00 price objective (up previously from $43.00) on shares of Aramark in a report on Wednesday, August 9th. Zacks Investment Research lowered shares of Aramark from a “buy” rating to a “hold” rating in a report on Tuesday, July 11th. Finally, Morgan Stanley upped their price objective on shares of Aramark from $39.00 to $40.00 and gave the company an “equal weight” rating in a report on Thursday, August 10th. One analyst has rated the stock with a sell rating, three have issued a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $43.00.
In other Aramark news, EVP Stephen R. Reynolds sold 30,000 shares of Aramark stock in a transaction dated Wednesday, June 14th. The stock was sold at an average price of $40.41, for a total value of $1,212,300.00. Following the completion of the sale, the executive vice president now owns 62,460 shares in the company, valued at approximately $2,524,008.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP James J. Tarangelo sold 3,000 shares of Aramark stock in a transaction dated Thursday, May 25th. The shares were sold at an average price of $37.15, for a total value of $111,450.00. Following the completion of the sale, the vice president now owns 2,871 shares of the company’s stock, valued at approximately $106,657.65. The disclosure for this sale can be found here. Insiders sold a total of 143,629 shares of company stock valued at $5,618,413 in the last 90 days. 2.90% of the stock is owned by company insiders.
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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