Prudential Financial Inc. reduced its position in Aramark (NYSE:ARMK) by 81.0% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 28,140 shares of the company’s stock after selling 119,850 shares during the quarter. Prudential Financial Inc.’s holdings in Aramark were worth $1,015,000 at the end of the most recent quarter.
Other hedge funds have also recently added to or reduced their stakes in the company. Cullen Frost Bankers Inc. bought a new position in Aramark in the 2nd quarter valued at about $32,000. Squar Milner Financial Services LLC increased its holdings in Aramark by 8.4% in the 2nd quarter. Squar Milner Financial Services LLC now owns 3,712 shares of the company’s stock valued at $134,000 after buying an additional 288 shares during the period. Machina Capital S.A.S. increased its holdings in Aramark by 18.3% in the 2nd quarter. Machina Capital S.A.S. now owns 5,456 shares of the company’s stock valued at $197,000 after buying an additional 844 shares during the period. Wetherby Asset Management Inc. bought a new position in Aramark in the 2nd quarter valued at about $206,000. Finally, Janney Montgomery Scott LLC bought a new position in Aramark in the 2nd quarter valued at about $223,000. 98.54% of the stock is currently owned by hedge funds and other institutional investors.
Shares of ARMK traded down $0.20 during mid-day trading on Friday, reaching $42.22. The company had a trading volume of 1,505,114 shares, compared to its average volume of 2,340,786. The company’s 50 day simple moving average is $39.68 and its 200 day simple moving average is $34.47. The company has a debt-to-equity ratio of 2.19, a quick ratio of 1.04 and a current ratio of 1.22. Aramark has a 1-year low of $25.49 and a 1-year high of $43.70. The company has a market capitalization of $10.54 billion, a price-to-earnings ratio of 21.22, a P/E/G ratio of 2.43 and a beta of 0.89.
The firm also recently announced a quarterly dividend, which was paid on Thursday, August 29th. Investors of record on Thursday, August 15th were given a dividend of $0.11 per share. The ex-dividend date was Wednesday, August 14th. This represents a $0.44 annualized dividend and a yield of 1.04%. Aramark’s dividend payout ratio is presently 22.11%.
In related news, insider Keith Bethel sold 7,500 shares of Aramark stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $37.40, for a total transaction of $280,500.00. Following the sale, the insider now directly owns 43,692 shares in the company, valued at approximately $1,634,080.80. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 3.30% of the stock is owned by company insiders.
A number of research firms have recently weighed in on ARMK. Oppenheimer began coverage on shares of Aramark in a research note on Thursday, August 22nd. They issued an “outperform” rating and a $50.00 price target on the stock. Zacks Investment Research upgraded shares of Aramark from a “sell” rating to a “hold” rating in a research note on Tuesday, July 16th. Stifel Nicolaus upgraded shares of Aramark from a “hold” rating to a “buy” rating and raised their price target for the company from $36.00 to $49.00 in a research note on Monday, August 19th. Nomura upgraded shares of Aramark from a “neutral” rating to a “buy” rating and raised their price target for the company from $28.00 to $50.00 in a research note on Monday, August 19th. Finally, TheStreet upgraded shares of Aramark from a “c+” rating to a “b-” rating in a research note on Friday, July 5th. Six investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $43.75.
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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