Aramark (NYSE:ARMK) posted its quarterly earnings results on Tuesday. The company reported $0.40 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.35 by $0.05, Bloomberg Earnings reports. The company had revenue of $3.59 billion for the quarter, compared to the consensus estimate of $3.61 billion. Aramark had a net margin of 2.23% and a return on equity of 19.13%. Aramark’s revenue was up .2% on a year-over-year basis. During the same quarter last year, the firm posted $0.34 earnings per share. Aramark updated its FY17 guidance to $1.90-2.00 EPS.

Shares of Aramark (ARMK) opened at 40.10 on Wednesday. Aramark has a 52-week low of $32.73 and a 52-week high of $41.72. The stock has a 50 day moving average of $40.51 and a 200 day moving average of $37.39. The firm has a market cap of $9.79 billion, a price-to-earnings ratio of 30.80 and a beta of 0.48.

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 5th. Stockholders of record on Wednesday, August 16th will be given a $0.103 dividend. This represents a $0.41 annualized dividend and a dividend yield of 1.03%. The ex-dividend date is Monday, August 14th. Aramark’s payout ratio is currently 31.78%.

In other news, SVP Brian P. Pressler sold 10,629 shares of the business’s stock in a transaction on Friday, June 16th. The shares were sold at an average price of $40.80, for a total value 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 filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Stephen R. Reynolds sold 30,000 shares of the business’s stock in a transaction on 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 completion of 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 sold 143,629 shares of company stock valued at $5,618,413 over the last quarter. Corporate insiders own 2.90% of the company’s stock.

Hedge funds have recently modified their holdings of the company. Vanguard Group Inc. boosted its stake in shares of 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 during the last quarter. BlackRock Inc. boosted its stake in shares of 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 during the last quarter. First Manhattan Co. boosted its stake in shares of Aramark by 2.8% in the first quarter. First Manhattan Co. now owns 5,562,724 shares of the company’s stock worth $211,550,000 after buying an additional 150,765 shares during the last quarter. Wellington Management Group LLP boosted its stake in shares of 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 during the last quarter. Finally, Janus Capital Management LLC boosted its stake in shares of 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 during the last quarter. Institutional investors and hedge funds own 95.94% of the company’s stock.

A number of equities analysts have weighed in on ARMK shares. Deutsche Bank AG increased their price target on shares of Aramark from $42.00 to $48.00 and gave the stock a “buy” rating in a research note on Wednesday, May 10th. BidaskClub downgraded shares of Aramark from a “strong-buy” rating to a “buy” rating in a research note on Friday, July 7th. Barclays PLC increased their price target on shares of Aramark from $37.00 to $39.00 and gave the stock an “equal weight” rating in a research note on Friday, June 23rd. Finally, Zacks Investment Research raised shares of Aramark from a “hold” rating to a “buy” rating and set a $41.00 price objective for the company in a research report on Tuesday, April 25th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $42.90.

TRADEMARK VIOLATION WARNING: This piece was originally posted by Daily Political and is owned by of Daily Political. If you are accessing this piece on another domain, it was copied illegally and reposted in violation of United States & international copyright laws. The correct version of this piece can be read at https://www.dailypolitical.com/2017/08/09/aramark-nysearmk-issues-earnings-results-meets-estimates.html.

About Aramark

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).

Earnings History for Aramark (NYSE:ARMK)

Receive News & Ratings for Aramark Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Aramark and related companies with MarketBeat.com's FREE daily email newsletter.