Pacad Investment Ltd. Reduces Stake in Aramark (ARMK)
Pacad Investment Ltd. decreased its position in Aramark (NYSE:ARMK) by 12.5% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 28,000 shares of the company’s stock after selling 4,000 shares during the period. Pacad Investment Ltd.’s holdings in Aramark were worth $1,147,000 at the end of the most recent reporting period.
Several other hedge funds also recently added to or reduced their stakes in ARMK. Vanguard Group Inc. boosted its stake in Aramark by 3.8% in the first quarter. Vanguard Group Inc. now owns 19,369,393 shares of the company’s stock worth $714,150,000 after buying an additional 714,510 shares in the last quarter. BlackRock Inc. boosted its stake in Aramark by 4,277.8% in the first quarter. BlackRock Inc. now owns 12,453,306 shares of the company’s stock worth $459,151,000 after buying an additional 12,168,838 shares in the last quarter. Wellington Management Group LLP boosted its stake in Aramark by 3.9% in the first quarter. Wellington Management Group LLP now owns 5,026,984 shares of the company’s stock worth $185,345,000 after buying an additional 190,656 shares in the last quarter. Janus Capital Management LLC boosted its stake in Aramark by 5.0% in the first quarter. Janus Capital Management LLC now owns 5,015,544 shares of the company’s stock worth $184,923,000 after buying an additional 239,557 shares in the last quarter. Finally, State Street Corp boosted its stake in shares of Aramark by 2.6% in the first quarter. State Street Corp now owns 4,447,472 shares of the company’s stock valued at $163,979,000 after buying an additional 114,577 shares in the last quarter. 94.84% of the stock is owned by institutional investors and hedge funds.
Shares of Aramark (ARMK) opened at 40.75 on Friday. The stock has a market cap of $9.99 billion, a PE ratio of 29.53 and a beta of 0.48. Aramark has a 52 week low of $32.73 and a 52 week high of $41.72. The company’s 50-day moving average is $39.94 and its 200 day moving average is $38.22.
Aramark (NYSE:ARMK) last announced its earnings results on Tuesday, August 8th. The company reported $0.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 net margin of 2.37% and a return on equity of 19.29%. The firm’s quarterly revenue was up .2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.34 earnings per share. Analysts forecast 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 Tuesday, September 5th. Shareholders of record on Wednesday, August 16th will be given a dividend of $0.103 per share. This represents a $0.41 dividend on an annualized basis and a yield of 1.01%. The ex-dividend date is Monday, August 14th. Aramark’s payout ratio is currently 29.93%.
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ARMK has been the subject of several research reports. Zacks Investment Research cut shares of Aramark from a “buy” rating to a “hold” rating in a research note on Tuesday, July 11th. BidaskClub cut shares of Aramark from a “strong-buy” rating to a “buy” rating in a research note on Friday, July 7th. 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 research note on Thursday, August 10th. Nomura reaffirmed a “buy” rating and set a $45.00 price objective (up previously from $43.00) on shares of Aramark in a research note on Wednesday, August 9th. Finally, Deutsche Bank AG upped their price objective on shares of Aramark from $42.00 to $48.00 and gave the company a “buy” rating in a research note on Wednesday, May 10th. One research analyst has rated the stock with a sell rating, three have given a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company’s stock. Aramark has a consensus rating of “Buy” and an average target price of $42.86.
In other news, SVP Brian P. Pressler sold 10,629 shares of Aramark stock in a transaction dated Friday, June 16th. The shares were sold at an average price of $40.80, for a total transaction of $433,663.20. Following the completion of the sale, the senior vice president now directly owns 14,285 shares in the company, valued at $582,828. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, 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 transaction of $1,212,300.00. Following the sale, the executive vice president now owns 62,460 shares of the company’s stock, valued at $2,524,008.60. The disclosure for this sale can be found here. Insiders own 2.90% of the company’s stock.
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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