US Bancorp DE Buys 12,195 Shares of Aramark (NYSE:ARMK)
US Bancorp DE increased its position in Aramark (NYSE:ARMK) by 190.0% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 18,612 shares of the company’s stock after buying an additional 12,195 shares during the period. US Bancorp DE’s holdings in Aramark were worth $763,000 as of its most recent filing with the SEC.
A number of other institutional investors also recently made changes to their positions in ARMK. Arizona State Retirement System raised its position in shares of Aramark by 0.3% in the first quarter. Arizona State Retirement System now owns 38,500 shares of the company’s stock worth $1,419,000 after buying an additional 100 shares during the last quarter. Pacer Advisors Inc. raised its position 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. Atria Investments LLC raised its position in Aramark by 0.8% in the second quarter. Atria Investments LLC now owns 25,185 shares of the company’s stock valued at $1,032,000 after buying an additional 209 shares in the last quarter. Wade G W & Inc. raised its position in Aramark by 3.7% in the first quarter. Wade G W & Inc. now owns 6,790 shares of the company’s stock valued at $250,000 after buying an additional 243 shares in the last quarter. Finally, Mitsubishi UFJ Kokusai Asset Management Co. Ltd. raised its position in Aramark by 0.7% in the first quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 39,427 shares of the company’s stock valued at $1,454,000 after buying an additional 265 shares in the last quarter. 95.94% of the stock is currently owned by institutional investors.
Shares of Aramark (NYSE ARMK) remained flat at $39.35 during trading on Friday. The company had a trading volume of 1,058,792 shares. Aramark has a one year low of $32.73 and a one year high of $41.72. The stock has a market cap of $9.64 billion, a PE ratio of 28.51 and a beta of 0.48. The company has a 50-day moving average of $40.33 and a 200-day moving average of $37.63.
Aramark (NYSE:ARMK) last released its earnings results on Tuesday, August 8th. The company reported $0.40 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.35 by $0.05. The company had revenue of $3.59 billion for the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same period in the prior year, the business earned $0.34 EPS. On average, analysts expect that Aramark will post $1.96 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 5th. Stockholders of record on Wednesday, August 16th will be issued a $0.103 dividend. The ex-dividend date is Monday, August 14th. This represents a $0.41 dividend on an annualized basis and a dividend yield of 1.05%. Aramark’s payout ratio is 29.93%.
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ARMK has been the subject of several recent research reports. BidaskClub lowered Aramark from a “sell” rating to a “strong sell” rating in a research report on Saturday. Zacks Investment Research lowered Aramark from a “buy” rating to a “hold” rating in a research report on Tuesday, May 9th. Nomura reiterated a “buy” rating and issued a $45.00 price target (up previously from $43.00) on shares of Aramark in a research report on Wednesday. Barclays PLC lifted their price target on Aramark from $37.00 to $39.00 and gave the stock an “equal weight” rating in a research report on Friday, June 23rd. Finally, Morgan Stanley boosted their target price on Aramark from $39.00 to $40.00 and gave the company an “equal weight” rating in a research report on Thursday. 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 assigned a strong buy rating to the company’s stock. Aramark presently has an average rating of “Buy” and an average target price of $43.00.
In related news, EVP Lynn Mckee sold 100,000 shares of Aramark stock in a transaction on Friday, June 2nd. The shares were sold at an average price of $38.61, for a total transaction 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP James J. Tarangelo sold 3,000 shares of Aramark stock in a transaction 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 in the company, valued at $106,657.65. The disclosure for this sale can be found here. Insiders sold a total of 143,629 shares of company stock worth $5,618,413 over the last 90 days. Company 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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