Levin Capital Strategies L.P. Has $1.06 Million Holding in Aramark (ARMK)

Levin Capital Strategies L.P. Has $1.06 Million Holding in Aramark (ARMK)

Levin Capital Strategies L.P. increased its stake in Aramark (NYSE:ARMK) by 305.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 36,500 shares of the company’s stock after purchasing an additional 27,500 shares during the quarter. Levin Capital Strategies L.P.’s holdings in Aramark were worth $1,057,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the stock. FMR LLC boosted its position in Aramark by 6.4% during the second quarter. FMR LLC now owns 13,946,218 shares of the company’s stock worth $517,404,000 after acquiring an additional 838,390 shares during the last quarter. State of Alaska Department of Revenue boosted its position in Aramark by 5.6% during the third quarter. State of Alaska Department of Revenue now owns 61,425 shares of the company’s stock worth $2,642,000 after acquiring an additional 3,254 shares during the last quarter. DNB Asset Management AS boosted its position in Aramark by 8.8% during the third quarter. DNB Asset Management AS now owns 34,700 shares of the company’s stock worth $1,493,000 after acquiring an additional 2,800 shares during the last quarter. Bank of Montreal Can boosted its position in Aramark by 43.1% during the third quarter. Bank of Montreal Can now owns 14,275 shares of the company’s stock worth $615,000 after acquiring an additional 4,298 shares during the last quarter. Finally, First Manhattan Co. boosted its position in Aramark by 0.9% during the third quarter. First Manhattan Co. now owns 5,724,294 shares of the company’s stock worth $246,259,000 after acquiring an additional 50,846 shares during the last quarter. 99.97% of the stock is owned by institutional investors and hedge funds.

A number of equities analysts recently weighed in on the stock. Nomura restated a “buy” rating and set a $46.00 price target on shares of Aramark in a research report on Monday. Goldman Sachs Group lowered shares of Aramark from a “buy” rating to a “neutral” rating in a research report on Monday. Credit Suisse Group lowered their price target on shares of Aramark from $53.00 to $44.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 6th. Zacks Investment Research upgraded shares of Aramark from a “sell” rating to a “hold” rating in a research report on Friday, January 18th. Finally, Berenberg Bank upgraded shares of Aramark from a “hold” rating to a “buy” rating and set a $31.00 price target on the stock in a research report on Thursday, January 17th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and nine have issued a buy rating to the company. Aramark currently has a consensus rating of “Buy” and an average price target of $42.27.

In related news, Director Stephen I. Sadove purchased 6,000 shares of Aramark stock in a transaction dated Thursday, December 13th. The shares were acquired at an average cost of $32.72 per share, with a total value of $196,320.00. Following the purchase, the director now owns 37,314 shares of the company’s stock, valued at $1,220,914.08. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Eric J. Foss purchased 92,564 shares of Aramark stock in a transaction dated Wednesday, December 12th. The stock was bought at an average cost of $32.46 per share, for a total transaction of $3,004,627.44. Following the completion of the purchase, the chief executive officer now directly owns 1,679,407 shares in the company, valued at approximately $54,513,551.22. The disclosure for this purchase can be found here. Insiders own 3.50% of the company’s stock.

NYSE:ARMK opened at $31.41 on Tuesday. The company has a current ratio of 1.21, a quick ratio of 1.04 and a debt-to-equity ratio of 2.28. The stock has a market capitalization of $7.88 billion, a price-to-earnings ratio of 15.78, a PEG ratio of 1.49 and a beta of 1.20. Aramark has a 1-year low of $27.37 and a 1-year high of $43.70.

Aramark (NYSE:ARMK) last posted its earnings results on Tuesday, February 5th. The company reported $0.63 earnings per share for the quarter, beating the consensus estimate of $0.55 by $0.08. The company had revenue of $4.27 billion for the quarter, compared to analyst estimates of $4.19 billion. Aramark had a net margin of 3.27% and a return on equity of 17.81%. Aramark’s revenue was up 7.6% on a year-over-year basis. During the same period in the previous year, the business posted $0.59 EPS. Equities analysts expect that Aramark will post 2.12 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, February 28th. Shareholders of record on Thursday, February 14th will be issued a $0.11 dividend. The ex-dividend date is Wednesday, February 13th. This represents a $0.44 annualized dividend and a yield of 1.40%. Aramark’s payout ratio is 22.11%.

Aramark 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.

Further Reading: How can investors find ex-dividend dates?

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