Aramark (ARMK) Shares Sold by Russell Investments Group Ltd.
Russell Investments Group Ltd. trimmed its stake in shares of Aramark (NYSE:ARMK) by 22.9% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 107,398 shares of the company’s stock after selling 31,873 shares during the quarter. Russell Investments Group Ltd.’s holdings in Aramark were worth $4,362,000 at the end of the most recent reporting period.
Other hedge funds also recently added to or reduced their stakes in the company. Toronto Dominion Bank boosted its position in Aramark by 19.0% during the second quarter. Toronto Dominion Bank now owns 3,027 shares of the company’s stock worth $124,000 after purchasing an additional 483 shares during the period. Advisor Group Inc. boosted its position in Aramark by 85.7% during the third quarter. Advisor Group Inc. now owns 3,342 shares of the company’s stock worth $136,000 after purchasing an additional 1,542 shares during the period. Acrospire Investment Management LLC boosted its position in shares of Aramark by 98.5% in the second quarter. Acrospire Investment Management LLC now owns 3,628 shares of the company’s stock valued at $149,000 after acquiring an additional 1,800 shares during the period. Pacer Advisors Inc. boosted its position in shares of Aramark by 8.3% in the second quarter. Pacer Advisors Inc. now owns 4,871 shares of the company’s stock valued at $200,000 after acquiring an additional 374 shares during the period. Finally, Crossmark Global Holdings Inc. bought a new stake in shares of Aramark in the third quarter valued at about $206,000. 95.68% of the stock is owned by hedge funds and other institutional investors.
A number of equities research analysts have recently issued reports on ARMK shares. BidaskClub raised shares of Aramark from a “sell” rating to a “hold” rating in a research report on Saturday, September 23rd. Royal Bank of Canada reissued a “buy” rating on shares of Aramark in a research report on Thursday, October 5th. Nomura boosted their target price on shares of Aramark from $45.00 to $47.00 and gave the company a “buy” rating in a research report on Tuesday, October 17th. Zacks Investment Research cut shares of Aramark from a “hold” rating to a “strong sell” rating in a research report on Wednesday, October 18th. Finally, Barclays reissued a “hold” rating and issued a $45.00 target price on shares of Aramark in a research report on Thursday, October 19th. Three investment analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company’s stock. Aramark presently has a consensus rating of “Buy” and an average price target of $44.83.
In related news, Director Sanjeev K. Mehra purchased 19,640 shares of the company’s stock in a transaction that occurred on Thursday, November 16th. The stock was acquired at an average price of $40.75 per share, with a total value of $800,330.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 2.90% of the stock is owned by insiders.
Shares of Aramark (NYSE ARMK) opened at $42.07 on Thursday. The stock has a market cap of $10,357.79, a PE ratio of 23.88, a PEG ratio of 1.80 and a beta of 0.47. Aramark has a 52-week low of $32.87 and a 52-week high of $44.12. The company has a debt-to-equity ratio of 2.11, a current ratio of 1.12 and a quick ratio of 0.86.
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 Zacks’ consensus estimate of $0.52 by $0.02. The company had revenue of $3.65 billion during the quarter, compared to analysts’ expectations of $3.70 billion. Aramark had a net margin of 2.56% and a return on equity of 19.29%. Aramark’s quarterly revenue was up 3.1% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.49 earnings per share. sell-side analysts forecast that Aramark will post 1.96 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Thursday, December 7th. Investors of record on Monday, November 27th were paid a $0.105 dividend. This represents a $0.42 dividend on an annualized basis and a yield of 1.00%. The ex-dividend date of this dividend was Friday, November 24th. This is an increase from Aramark’s previous quarterly dividend of $0.10. Aramark’s payout ratio is 28.19%.
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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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