Nationwide Fund Advisors Lowers Holdings in Aramark (ARMK)
Nationwide Fund Advisors trimmed its position in Aramark (NYSE:ARMK) by 37.5% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 315,931 shares of the company’s stock after selling 189,216 shares during the quarter. Nationwide Fund Advisors owned 0.13% of Aramark worth $12,830,000 at the end of the most recent reporting period.
Several other hedge funds have also recently modified their holdings of the business. Capstone Asset Management Co. bought a new position in shares of Aramark in the 2nd quarter worth $208,000. Bank of Montreal Can raised its position in shares of Aramark by 11.5% in the 2nd quarter. Bank of Montreal Can now owns 23,097 shares of the company’s stock worth $947,000 after acquiring an additional 2,373 shares in the last quarter. Aperio Group LLC raised its position in shares of Aramark by 57.0% in the 2nd quarter. Aperio Group LLC now owns 33,528 shares of the company’s stock worth $1,374,000 after acquiring an additional 12,167 shares in the last quarter. US Bancorp DE raised its position in shares of Aramark by 190.0% in the 2nd quarter. US Bancorp DE now owns 18,612 shares of the company’s stock worth $763,000 after acquiring an additional 12,195 shares in the last quarter. Finally, Russell Investments Group Ltd. raised its position in shares of Aramark by 34.1% in the 2nd quarter. Russell Investments Group Ltd. now owns 139,271 shares of the company’s stock worth $5,707,000 after acquiring an additional 35,439 shares in the last quarter. Institutional investors and hedge funds own 95.64% of the company’s stock.
Aramark (ARMK) opened at $43.07 on Friday. Aramark has a 1 year low of $32.87 and a 1 year high of $44.12. The stock has a market capitalization of $10,553.83, a PE ratio of 24.33, a P/E/G ratio of 1.83 and a beta of 0.47. The company has a debt-to-equity ratio of 2.11, a quick ratio of 0.86 and a current ratio of 1.12.
Aramark (NYSE:ARMK) last announced its earnings results on Tuesday, November 14th. The company reported $0.54 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.52 by $0.02. Aramark had a return on equity of 19.29% and a net margin of 2.56%. The company had revenue of $3.65 billion for the quarter, compared to analyst estimates of $3.70 billion. During the same period in the prior year, the company posted $0.49 EPS. The firm’s quarterly revenue was up 3.1% compared to the same quarter last year. equities analysts predict that Aramark will post 1.96 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 7th. Investors of record on Monday, November 27th will be given a dividend of $0.105 per share. This is a positive change from Aramark’s previous quarterly dividend of $0.10. This represents a $0.42 annualized dividend and a yield of 0.98%. The ex-dividend date of this dividend is Friday, November 24th. Aramark’s dividend payout ratio is currently 28.19%.
Several research firms have recently commented on ARMK. Zacks Investment Research lowered Aramark from a “hold” rating to a “strong sell” rating in a research report on Wednesday, October 18th. Morgan Stanley boosted their price target on Aramark from $39.00 to $40.00 and gave the stock an “equal weight” rating in a research report on Thursday, August 10th. Nomura reaffirmed a “buy” rating and set a $45.00 target price (up from $43.00) on shares of Aramark in a research report on Wednesday, August 9th. Barclays reaffirmed a “hold” rating and set a $45.00 target price on shares of Aramark in a research report on Thursday, October 19th. Finally, Royal Bank Of Canada upped their target price on Aramark from $44.00 to $47.00 and gave the company an “outperform” rating in a research report on Tuesday, October 17th. Three investment analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $44.83.
In other news, Director Sanjeev K. Mehra acquired 19,640 shares of the business’s stock in a transaction dated Thursday, November 16th. The shares were acquired at an average cost of $40.75 per share, with a total value of $800,330.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 2.90% of the company’s stock.
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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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