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 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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