Metropolitan Life Insurance Co. NY Maintains Position in Aramark (ARMK)
Metropolitan Life Insurance Co. NY maintained its stake in Aramark (NYSE:ARMK) during the first quarter, Holdings Channel reports. The fund owned 11,119 shares of the company’s stock at the end of the first quarter. Metropolitan Life Insurance Co. NY’s holdings in Aramark were worth $410,000 as of its most recent SEC filing.
A number of other hedge funds also recently bought and sold shares of the stock. Israel Discount Bank of New York bought a new stake in Aramark during the first quarter valued at approximately $103,000. Pacer Advisors Inc. increased its stake in Aramark by 3.3% in the first quarter. Pacer Advisors Inc. now owns 4,497 shares of the company’s stock valued at $166,000 after buying an additional 143 shares in the last quarter. CAPROCK Group Inc. bought a new stake in Aramark during the first quarter valued at approximately $202,000. Mn Services Vermogensbeheer B.V. increased its stake in Aramark by 6.8% in the first quarter. Mn Services Vermogensbeheer B.V. now owns 6,201 shares of the company’s stock valued at $214,000 after buying an additional 395 shares in the last quarter. Finally, US Bancorp DE increased its stake in Aramark by 0.6% in the first quarter. US Bancorp DE now owns 6,417 shares of the company’s stock valued at $237,000 after buying an additional 41 shares in the last quarter. 95.72% of the stock is owned by hedge funds and other institutional investors.
Shares of Aramark (NYSE ARMK) traded up 0.20% during trading on Thursday, hitting $39.43. The stock had a trading volume of 184,495 shares. The firm’s 50-day moving average is $40.16 and its 200-day moving average is $37.78. The firm has a market cap of $9.66 billion, a P/E ratio of 28.57 and a beta of 0.48. Aramark has a one year low of $32.73 and a one year high of $41.72.
Aramark (NYSE:ARMK) last released its quarterly earnings results on Tuesday, August 8th. The company reported $0.40 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.35 by $0.05. The company had revenue of $3.59 billion for 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 business’s revenue for the quarter was up .2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.34 earnings per share. Equities research analysts forecast that Aramark will post $1.96 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 5th. Investors of record on Wednesday, August 16th will be issued a dividend of $0.103 per share. The ex-dividend date is Monday, August 14th. This represents a $0.41 annualized dividend and a yield of 1.05%. Aramark’s payout ratio is 29.93%.
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ARMK has been the subject of a number of analyst reports. BidaskClub downgraded Aramark from a “sell” rating to a “strong sell” rating in a research note on Saturday, August 12th. Nomura reissued a “buy” rating and set a $45.00 target price (up from $43.00) on shares of Aramark in a research note on Wednesday, August 9th. Morgan Stanley increased their target price on Aramark from $39.00 to $40.00 and gave the stock an “equal weight” rating in a research note on Thursday, August 10th. Zacks Investment Research downgraded Aramark from a “buy” rating to a “hold” rating in a research note on Tuesday, May 9th. Finally, Barclays PLC increased their target price on Aramark from $37.00 to $39.00 and gave the stock an “equal weight” rating in a research note on Friday, June 23rd. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $43.00.
In related news, VP James J. Tarangelo sold 3,000 shares of the business’s stock in a transaction that occurred on Thursday, May 25th. The stock was sold at an average price of $37.15, for a total transaction of $111,450.00. Following the sale, the vice president now owns 2,871 shares of the company’s stock, valued at $106,657.65. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Lynn Mckee sold 100,000 shares of the business’s stock in a transaction that occurred on Friday, June 2nd. The stock was sold at an average price of $38.61, for a total value of $3,861,000.00. Following the sale, the executive vice president now directly owns 304,736 shares in the company, valued at approximately $11,765,856.96. 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 corporate 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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