Redpoint Investment Management Pty Ltd purchased a new position in Aramark (NYSE:ARMK) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 4,596 shares of the company’s stock, valued at approximately $200,000.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Cullen Frost Bankers Inc. bought a new position in shares of Aramark in the second quarter worth about $32,000. AdvisorNet Financial Inc grew its holdings in shares of Aramark by 18.1% in the third quarter. AdvisorNet Financial Inc now owns 1,807 shares of the company’s stock worth $79,000 after purchasing an additional 277 shares during the last quarter. Quest Capital Management Inc. ADV bought a new position in shares of Aramark in the third quarter worth about $117,000. Cerebellum GP LLC bought a new position in shares of Aramark in the third quarter worth about $127,000. Finally, Squar Milner Financial Services LLC grew its holdings in shares of Aramark by 8.4% in the second quarter. Squar Milner Financial Services LLC now owns 3,712 shares of the company’s stock worth $134,000 after purchasing an additional 288 shares during the last quarter.
ARMK has been the topic of several recent research reports. Royal Bank of Canada set a $49.00 target price on shares of Aramark and gave the stock a “buy” rating in a report on Monday, August 26th. Jefferies Financial Group initiated coverage on shares of Aramark in a report on Wednesday, November 27th. They set a “hold” rating and a $49.00 target price on the stock. Robert W. Baird increased their target price on shares of Aramark from $40.00 to $44.00 and gave the stock a “neutral” rating in a report on Monday, August 19th. Oppenheimer initiated coverage on shares of Aramark in a report on Thursday, August 22nd. They set an “outperform” rating and a $50.00 target price on the stock. Finally, Stifel Nicolaus upgraded shares of Aramark from a “hold” rating to a “buy” rating and increased their target price for the stock from $36.00 to $49.00 in a report on Monday, August 19th. Seven research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Aramark has a consensus rating of “Buy” and an average price target of $45.58.
Aramark (NYSE:ARMK) last released its quarterly earnings results on Tuesday, November 19th. The company reported $0.68 earnings per share for the quarter, missing analysts’ consensus estimates of $0.69 by ($0.01). Aramark had a net margin of 2.76% and a return on equity of 17.27%. The firm had revenue of $3.95 billion during the quarter, compared to the consensus estimate of $3.94 billion. During the same quarter in the prior year, the business posted $0.70 earnings per share. The firm’s quarterly revenue was up .9% on a year-over-year basis. On average, research analysts forecast that Aramark will post 2.16 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Monday, December 9th. Stockholders of record on Monday, December 2nd will be issued a $0.11 dividend. This represents a $0.44 dividend on an annualized basis and a dividend yield of 1.01%. The ex-dividend date of this dividend is Friday, November 29th. Aramark’s dividend payout ratio is currently 19.64%.
In related news, EVP Lynn Mckee sold 225,340 shares of the stock in a transaction that occurred on Tuesday, November 26th. The shares were sold at an average price of $44.11, for a total value of $9,939,747.40. Following the completion of the transaction, the executive vice president now directly owns 432,955 shares of the company’s stock, valued at approximately $19,097,645.05. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO John J. Zillmer acquired 35,000 shares of the firm’s stock in a transaction that occurred on Thursday, November 21st. The stock was bought at an average cost of $42.68 per share, with a total value of $1,493,800.00. Following the completion of the transaction, the chief executive officer now directly owns 201,030 shares in the company, valued at $8,579,960.40. The disclosure for this purchase can be found here. 3.50% of the stock is currently owned by company insiders.
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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