State of New Jersey Common Pension Fund D decreased its holdings in Aramark (NYSE:ARMK – Get Rating) by 10.6% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 108,339 shares of the company’s stock after selling 12,898 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Aramark were worth $3,380,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently bought and sold shares of ARMK. Goldman Sachs Group Inc. raised its stake in Aramark by 110.0% in the first quarter. Goldman Sachs Group Inc. now owns 3,402,426 shares of the company’s stock valued at $127,931,000 after buying an additional 1,782,146 shares during the period. Artemis Investment Management LLP bought a new position in shares of Aramark during the third quarter worth approximately $22,740,000. National Bank of Canada FI increased its stake in shares of Aramark by 21,740.8% during the second quarter. National Bank of Canada FI now owns 613,508 shares of the company’s stock worth $18,792,000 after purchasing an additional 610,699 shares during the period. Sasco Capital Inc. CT bought a new position in shares of Aramark during the second quarter worth approximately $15,962,000. Finally, JPMorgan Chase & Co. increased its stake in shares of Aramark by 11.7% during the second quarter. JPMorgan Chase & Co. now owns 3,955,034 shares of the company’s stock worth $121,142,000 after purchasing an additional 413,447 shares during the period.
Wall Street Analyst Weigh In
A number of equities analysts have recently weighed in on the company. Barclays increased their target price on Aramark from $34.00 to $36.00 and gave the stock an “underweight” rating in a research note on Friday, December 2nd. Morgan Stanley increased their price target on Aramark from $41.00 to $44.00 and gave the stock an “equal weight” rating in a research report on Wednesday, January 4th. Jefferies Financial Group reissued a “hold” rating and set a $36.00 price target on shares of Aramark in a research report on Tuesday, October 25th. StockNews.com started coverage on Aramark in a research report on Wednesday, October 12th. They set a “hold” rating on the stock. Finally, Deutsche Bank Aktiengesellschaft increased their price target on Aramark from $40.00 to $43.00 in a research report on Wednesday, November 16th. One research 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. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $41.50.
Aramark Trading Up 0.9 %
Aramark (NYSE:ARMK – Get Rating) last issued its earnings results on Tuesday, November 15th. The company reported $0.48 earnings per share for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.01). The business 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 revenue for the quarter was up 23.6% compared to the same quarter last year. During the same period in the prior year, the business posted $0.21 EPS. Equities analysts predict that Aramark will post 1.88 EPS for the current fiscal year.
Aramark Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Monday, December 5th. Investors of record on Tuesday, November 22nd were issued a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a dividend yield of 0.97%. The ex-dividend date of this dividend was Monday, November 21st. Aramark’s dividend payout ratio (DPR) is 57.90%.
Insider Activity at Aramark
In related news, EVP Lynn Mckee sold 30,817 shares of the firm’s stock in a transaction on 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 sale, the executive vice president now owns 281,714 shares of the company’s stock, valued at approximately $11,961,576.44. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, SVP Lauren A. Harrington sold 9,452 shares of the firm’s stock in a transaction on Tuesday, December 13th. The stock was sold at an average price of $42.48, for a total transaction of $401,520.96. Following the sale, the senior vice president now owns 64,106 shares of the company’s stock, valued at approximately $2,723,222.88. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Lynn Mckee sold 30,817 shares of the firm’s stock in a transaction on Tuesday, December 13th. The stock was sold at an average price of $42.46, for a total value of $1,308,489.82. Following the transaction, the executive vice president now directly owns 281,714 shares of the company’s stock, valued at $11,961,576.44. The disclosure for this sale can be found here. 11.02% of the stock is currently owned by company insiders.
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.
- Get a free copy of the StockNews.com research report on Aramark (ARMK)
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