Stoneridge Investment Partners LLC Takes Position in Aramark Holdings Corp. (ARMK)
Stoneridge Investment Partners LLC purchased a new position in shares of Aramark Holdings Corp. (NYSE:ARMK) during the second quarter, Holdings Channel reports. The institutional investor purchased 63,857 shares of the company’s stock, valued at approximately $2,134,000.
Several other hedge funds and other institutional investors also recently made changes to their positions in ARMK. Daiwa Securities Group Inc. increased its position in shares of Aramark Holdings Corp. by 11.5% in the second quarter. Daiwa Securities Group Inc. now owns 5,350 shares of the company’s stock valued at $179,000 after buying an additional 550 shares during the period. Fox Run Management L.L.C. increased its position in shares of Aramark Holdings Corp. by 30.4% in the first quarter. Fox Run Management L.L.C. now owns 9,000 shares of the company’s stock valued at $298,000 after buying an additional 2,100 shares during the period. Monetary Management Group Inc. acquired a new position in shares of Aramark Holdings Corp. during the first quarter valued at $321,000. M&T Bank Corp acquired a new position in shares of Aramark Holdings Corp. during the first quarter valued at $339,000. Finally, Prudential Financial Inc. acquired a new position in shares of Aramark Holdings Corp. during the first quarter valued at $443,000. Institutional investors and hedge funds own 94.26% of the company’s stock.
Aramark Holdings Corp. (NYSE:ARMK) traded up 0.69% during trading on Wednesday, reaching $37.76. The company had a trading volume of 1,166,689 shares. The firm has a 50-day moving average of $37.24 and a 200-day moving average of $34.49. Aramark Holdings Corp. has a 1-year low of $28.37 and a 1-year high of $38.30. The stock has a market capitalization of $9.21 billion, a price-to-earnings ratio of 35.96 and a beta of 0.57.
Aramark Holdings Corp. (NYSE:ARMK) last announced its quarterly earnings data on Wednesday, August 10th. The company reported $0.34 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.32 by $0.02. Aramark Holdings Corp. had a return on equity of 18.92% and a net margin of 1.81%. The company had revenue of $3.59 billion for the quarter, compared to analyst estimates of $3.58 billion. During the same quarter in the previous year, the company earned $0.29 EPS. The firm’s revenue for the quarter was up 3.0% compared to the same quarter last year. On average, analysts anticipate that Aramark Holdings Corp. will post $1.71 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 6th. Shareholders of record on Tuesday, August 16th were issued a $0.095 dividend. This represents a $0.38 dividend on an annualized basis and a yield of 1.01%. The ex-dividend date was Friday, August 12th. Aramark Holdings Corp.’s dividend payout ratio is presently 35.85%.
Several research firms have weighed in on ARMK. Macquarie began coverage on Aramark Holdings Corp. in a research note on Thursday, August 25th. They set an “outperform” rating and a $44.00 price target on the stock. Barclays PLC boosted their price target on Aramark Holdings Corp. from $37.00 to $40.00 and gave the company an “overweight” rating in a research note on Thursday, August 11th. RBC Capital Markets reiterated a “top pick” rating and set a $42.00 price target (up previously from $40.00) on shares of Aramark Holdings Corp. in a research note on Saturday, August 13th. Bank of America Corp. boosted their price target on Aramark Holdings Corp. from $38.00 to $43.00 and gave the company a “buy” rating in a research note on Thursday, August 11th. Finally, Royal Bank Of Canada boosted their price target on Aramark Holdings Corp. from $40.00 to $42.00 and gave the company a “top pick” rating in a research note on Thursday, August 11th. Three investment analysts have rated the stock with a hold rating, nine have issued a buy rating and two have issued a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $40.58.
In other Aramark Holdings Corp. news, EVP Stephen R. Reynolds sold 56,709 shares of Aramark Holdings Corp. stock in a transaction that occurred on Wednesday, August 17th. The stock was sold at an average price of $36.97, for a total value of $2,096,531.73. Following the sale, the executive vice president now owns 171,175 shares of the company’s stock, valued at approximately $6,328,339.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 2.50% of the stock is owned by company insiders.
About Aramark Holdings Corp.
Aramark provides 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).
Want to see what other hedge funds are holding ARMK? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Aramark Holdings Corp. (NYSE:ARMK).
Receive News & Ratings for Aramark Holdings Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Aramark Holdings Corp. and related companies with MarketBeat.com's FREE daily email newsletter.