Assenagon Asset Management S.A. Takes $1.29 Million Position in Aramark (NYSE:ARMK)

Assenagon Asset Management S.A. bought a new stake in shares of Aramark (NYSE:ARMKGet Rating) in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 41,387 shares of the company’s stock, valued at approximately $1,291,000.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Rhumbline Advisers increased its stake in shares of Aramark by 14.1% during the 2nd quarter. Rhumbline Advisers now owns 228,257 shares of the company’s stock worth $6,992,000 after purchasing an additional 28,204 shares during the last quarter. Mitsubishi UFJ Trust & Banking Corp increased its position in Aramark by 20.8% during the second quarter. Mitsubishi UFJ Trust & Banking Corp now owns 135,688 shares of the company’s stock worth $4,156,000 after buying an additional 23,404 shares during the last quarter. Toronto Dominion Bank lifted its position in shares of Aramark by 50.8% in the second quarter. Toronto Dominion Bank now owns 1,137,620 shares of the company’s stock worth $34,837,000 after buying an additional 383,272 shares during the last quarter. Illinois Municipal Retirement Fund boosted its stake in shares of Aramark by 115.7% during the 2nd quarter. Illinois Municipal Retirement Fund now owns 21,111 shares of the company’s stock worth $647,000 after acquiring an additional 11,324 shares in the last quarter. Finally, Korea Investment CORP increased its holdings in shares of Aramark by 61.7% during the 2nd quarter. Korea Investment CORP now owns 108,833 shares of the company’s stock valued at $3,334,000 after acquiring an additional 41,533 shares during the last quarter.

Insider Activity

In other Aramark news, EVP Lynn Mckee sold 30,817 shares of Aramark stock in a transaction dated Tuesday, December 13th. The stock was sold at an average price of $42.46, for a total transaction of $1,308,489.82. Following the transaction, the executive vice president now directly owns 281,714 shares in the company, valued at $11,961,576.44. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, SVP Lauren A. Harrington sold 9,452 shares of the stock in a transaction on Tuesday, December 13th. The shares were sold at an average price of $42.48, for a total transaction of $401,520.96. Following the completion of the sale, the senior vice president now owns 64,106 shares of the company’s stock, valued at $2,723,222.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Lynn Mckee sold 30,817 shares of the business’s stock in a transaction on Tuesday, December 13th. The shares were sold at an average price of $42.46, for a total transaction of $1,308,489.82. Following the completion of the sale, the executive vice president now directly owns 281,714 shares in the company, valued at $11,961,576.44. The disclosure for this sale can be found here. 11.02% of the stock is owned by company insiders.

Analyst Ratings Changes

ARMK has been the topic of several analyst reports. StockNews.com assumed coverage on Aramark in a report on Wednesday, October 12th. They set a “hold” rating on the stock. Jefferies Financial Group reiterated a “hold” rating and issued a $36.00 target price on shares of Aramark in a report on Tuesday, October 25th. Deutsche Bank Aktiengesellschaft upped their price target on shares of Aramark from $40.00 to $43.00 in a report on Wednesday, November 16th. Royal Bank of Canada lifted their price objective on Aramark from $38.00 to $45.00 in a research note on Wednesday, November 16th. Finally, Morgan Stanley increased their target price on Aramark from $41.00 to $44.00 and gave the company an “equal weight” rating in a research note on Wednesday, January 4th. One analyst has rated the stock with a sell rating, five have issued a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, Aramark presently has an average rating of “Hold” and a consensus target price of $41.50.

Aramark Stock Performance

Shares of Aramark stock opened at $45.31 on Friday. Aramark has a 52 week low of $28.74 and a 52 week high of $45.47. The company has a debt-to-equity ratio of 2.42, a quick ratio of 0.83 and a current ratio of 1.00. The stock has a market capitalization of $11.71 billion, a price-to-earnings ratio of 59.62, a PEG ratio of 0.87 and a beta of 1.65. The firm has a fifty day moving average of $41.15 and a two-hundred day moving average of $36.75.

Aramark (NYSE:ARMKGet Rating) last released its earnings results on Tuesday, November 15th. The company reported $0.48 earnings per share for the quarter, missing the consensus estimate of $0.49 by ($0.01). The company had revenue of $4.39 billion during the quarter, compared to analyst estimates of $4.11 billion. Aramark had a net margin of 1.19% and a return on equity of 10.55%. The company’s quarterly revenue was up 23.6% compared to the same quarter last year. During the same period in the previous year, the company posted $0.21 EPS. As a group, equities research analysts predict that Aramark will post 1.88 EPS for the current year.

Aramark Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, December 5th. Shareholders of record on Tuesday, November 22nd were issued a $0.11 dividend. The ex-dividend date of this dividend was Monday, November 21st. This represents a $0.44 annualized dividend and a yield of 0.97%. Aramark’s dividend payout ratio (DPR) is presently 57.90%.

Aramark Profile

(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.

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Institutional Ownership by Quarter for Aramark (NYSE:ARMK)

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