Hsbc Holdings PLC Has $86.60 Million Stock Holdings in Aramark (NYSE:ARMK)

Hsbc Holdings PLC trimmed its stake in shares of Aramark (NYSE:ARMKGet Rating) by 21.3% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,290,637 shares of the company’s stock after selling 619,955 shares during the quarter. Hsbc Holdings PLC owned approximately 0.89% of Aramark worth $86,603,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. CWM LLC increased its position in Aramark by 108.4% during the 1st quarter. CWM LLC now owns 667 shares of the company’s stock worth $25,000 after purchasing an additional 347 shares in the last quarter. Allworth Financial LP bought a new stake in Aramark during the 1st quarter worth approximately $28,000. PNC Financial Services Group Inc. grew its holdings in Aramark by 35.9% during the 1st quarter. PNC Financial Services Group Inc. now owns 1,693 shares of the company’s stock worth $64,000 after acquiring an additional 447 shares during the last quarter. Prospera Financial Services Inc bought a new stake in Aramark during the 1st quarter worth approximately $141,000. Finally, MetLife Investment Management LLC bought a new stake in Aramark during the 1st quarter worth approximately $174,000.

Aramark Trading Up 2.0 %

NYSE:ARMK opened at $37.68 on Friday. The firm’s fifty day moving average is $34.25 and its 200-day moving average is $34.59. The company has a debt-to-equity ratio of 2.77, a quick ratio of 1.05 and a current ratio of 1.25. Aramark has a 52 week low of $28.74 and a 52 week high of $39.95. The firm has a market cap of $9.71 billion, a P/E ratio of 61.77, a P/E/G ratio of 0.85 and a beta of 1.67.

Aramark (NYSE:ARMKGet Rating) last posted its quarterly earnings data on Tuesday, August 9th. The company reported $0.25 EPS for the quarter, beating analysts’ consensus estimates of $0.23 by $0.02. Aramark had a net margin of 1.00% and a return on equity of 8.25%. The company had revenue of $4.13 billion for the quarter, compared to analyst estimates of $3.81 billion. During the same period in the prior year, the firm posted $0.04 EPS. The company’s quarterly revenue was up 38.4% on a year-over-year basis. Equities analysts expect that Aramark will post 1.18 earnings per share for the current year.

Aramark Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, August 30th. Investors of record on Wednesday, August 17th were given a dividend of $0.11 per share. The ex-dividend date was Tuesday, August 16th. This represents a $0.44 dividend on an annualized basis and a dividend yield of 1.17%. Aramark’s payout ratio is presently 72.13%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on ARMK shares. Morgan Stanley boosted their target price on shares of Aramark from $35.00 to $37.00 and gave the stock an “equal weight” rating in a report on Wednesday, August 10th. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Aramark from $38.00 to $40.00 and gave the stock a “hold” rating in a report on Wednesday, August 10th. One analyst has rated the stock with a sell rating, five have given a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $39.29.

About Aramark

(Get Rating)

Aramark provides food, facilities, and uniform services to education, healthcare, business and industry, sports, leisure, and corrections clients in the United States and internationally. It operates through three segments: Food and Support Services United States, Food and Support Services International, and Uniform and Career Apparel.

Further Reading

Institutional Ownership by Quarter for Aramark (NYSE:ARMK)

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