Amundi Pioneer Asset Management Inc. Invests $15.71 Million in Aramark (ARMK)
Amundi Pioneer Asset Management Inc. bought a new stake in Aramark (NYSE:ARMK) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 367,675 shares of the company’s stock, valued at approximately $15,714,000.
Several other institutional investors and hedge funds have also recently made changes to their positions in ARMK. Legal & General Group Plc raised its stake in shares of Aramark by 197.8% in the third quarter. Legal & General Group Plc now owns 1,128,918 shares of the company’s stock valued at $45,843,000 after acquiring an additional 749,812 shares during the period. Alyeska Investment Group L.P. purchased a new stake in shares of Aramark in the third quarter valued at $15,806,000. First Manhattan Co. raised its stake in shares of Aramark by 7.4% in the fourth quarter. First Manhattan Co. now owns 5,187,057 shares of the company’s stock valued at $221,694,000 after acquiring an additional 355,984 shares during the period. BlackRock Inc. raised its stake in shares of Aramark by 2.3% in the fourth quarter. BlackRock Inc. now owns 13,588,423 shares of the company’s stock valued at $580,771,000 after acquiring an additional 302,749 shares during the period. Finally, Teacher Retirement System of Texas purchased a new stake in shares of Aramark in the third quarter valued at $12,076,000. 94.69% of the stock is currently owned by institutional investors and hedge funds.
Several brokerages have recently weighed in on ARMK. Royal Bank of Canada reissued a “buy” rating and issued a $50.00 target price on shares of Aramark in a research note on Wednesday, February 7th. Morgan Stanley increased their target price on shares of Aramark from $41.00 to $42.00 and gave the company an “equal weight” rating in a research note on Wednesday, January 31st. Credit Suisse Group reissued an “outperform” rating and issued a $50.00 target price on shares of Aramark in a research note on Wednesday, January 24th. Barclays increased their target price on shares of Aramark from $45.00 to $47.00 and gave the company an “equal weight” rating in a research note on Saturday, December 30th. Finally, Stifel Nicolaus began coverage on shares of Aramark in a research note on Tuesday, December 19th. They issued a “buy” rating and a $50.00 target price on the stock. Three equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Aramark has a consensus rating of “Buy” and an average price target of $47.43.
Aramark (NYSE:ARMK) last posted its quarterly earnings results on Tuesday, February 6th. The company reported $0.54 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.51 by $0.03. The company had revenue of $3.97 billion for the quarter, compared to the consensus estimate of $3.88 billion. Aramark had a net margin of 3.65% and a return on equity of 18.68%. The firm’s revenue was up 6.2% compared to the same quarter last year. During the same quarter last year, the firm posted $0.55 EPS. analysts forecast that Aramark will post 1.99 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Thursday, March 1st. Investors of record on Wednesday, February 14th were paid a $0.105 dividend. This represents a $0.42 annualized dividend and a yield of 1.02%. The ex-dividend date was Tuesday, February 13th. Aramark’s dividend payout ratio is presently 31.82%.
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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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