Wells Fargo & Company MN reduced its stake in shares of Aramark (NYSE:ARMK) by 20.5% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 877,614 shares of the company’s stock after selling 225,909 shares during the quarter. Wells Fargo & Company MN owned about 0.36% of Aramark worth $31,648,000 at the end of the most recent reporting period.
Several other institutional investors also recently bought and sold shares of ARMK. Cullen Frost Bankers Inc. acquired a new position in shares of Aramark during the 2nd quarter worth about $32,000. Squar Milner Financial Services LLC grew its position in shares of Aramark by 8.4% during the 2nd quarter. Squar Milner Financial Services LLC now owns 3,712 shares of the company’s stock worth $134,000 after buying an additional 288 shares during the period. Machina Capital S.A.S. grew its position in shares of Aramark by 18.3% during the 2nd quarter. Machina Capital S.A.S. now owns 5,456 shares of the company’s stock worth $197,000 after buying an additional 844 shares during the period. Wetherby Asset Management Inc. acquired a new position in shares of Aramark during the 2nd quarter worth about $206,000. Finally, Janney Montgomery Scott LLC acquired a new position in shares of Aramark during the 2nd quarter worth about $223,000. Institutional investors own 98.53% of the company’s stock.
Several equities analysts have recently issued reports on ARMK shares. Royal Bank of Canada set a $49.00 target price on Aramark and gave the stock a “buy” rating in a research report on Monday, August 26th. Oppenheimer assumed coverage on Aramark in a report on Thursday, August 22nd. They set an “outperform” rating and a $50.00 price objective on the stock. Robert W. Baird lifted their price objective on Aramark from $40.00 to $44.00 and gave the company a “neutral” rating in a report on Monday, August 19th. Zacks Investment Research upgraded Aramark from a “sell” rating to a “hold” rating in a report on Tuesday, July 16th. Finally, ValuEngine upgraded Aramark from a “sell” rating to a “hold” rating in a report on Thursday, May 30th. Six research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $43.62.
NYSE:ARMK opened at $41.20 on Wednesday. Aramark has a fifty-two week low of $25.49 and a fifty-two week high of $43.70. The company has a debt-to-equity ratio of 2.19, a current ratio of 1.22 and a quick ratio of 1.04. The stock has a market capitalization of $10.18 billion, a PE ratio of 20.70, a price-to-earnings-growth ratio of 2.32 and a beta of 0.89. The business’s 50-day simple moving average is $37.78 and its 200-day simple moving average is $33.63.
Aramark (NYSE:ARMK) last released its earnings results on Tuesday, August 6th. The company reported $0.47 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.39 by $0.08. The firm had revenue of $4.01 billion for the quarter, compared to analysts’ expectations of $3.99 billion. Aramark had a return on equity of 17.39% and a net margin of 3.33%. The business’s quarterly revenue was up 1.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.48 EPS. On average, research analysts expect that Aramark will post 2.04 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Thursday, August 29th. Shareholders of record on Thursday, August 15th were paid a $0.11 dividend. This represents a $0.44 annualized dividend and a yield of 1.07%. The ex-dividend date was Wednesday, August 14th. Aramark’s payout ratio is 22.11%.
In other Aramark news, insider Keith Bethel sold 7,500 shares of the business’s stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $37.40, for a total value of $280,500.00. Following the sale, the insider now owns 43,692 shares in the company, valued at approximately $1,634,080.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 3.50% of the company’s stock.
Aramark Company Profile
Aramark provides food, facilities management, and uniform services to education, healthcare, business and industry, sports, leisure, and corrections clients in North America and internationally. It operates in three segments: Food and Support Services United States, Food and Support Services International, and Uniform and Career Apparel.
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