ZWJ Investment Counsel Inc. raised its position in Aramark (NYSE:ARMK) by 0.9% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 209,544 shares of the company’s stock after buying an additional 1,910 shares during the quarter. ZWJ Investment Counsel Inc. owned about 0.08% of Aramark worth $9,132,000 at the end of the most recent quarter.
A number of other hedge funds have also recently added to or reduced their stakes in ARMK. Sarasin & Partners LLP increased its holdings in Aramark by 84.1% in the 2nd quarter. Sarasin & Partners LLP now owns 3,937,962 shares of the company’s stock valued at $142,003,000 after buying an additional 1,798,783 shares during the period. Suvretta Capital Management LLC bought a new position in Aramark in the 2nd quarter valued at about $64,668,000. Nuveen Asset Management LLC bought a new position in Aramark in the 2nd quarter valued at about $54,938,000. Atlanta Capital Management Co. L L C grew its holdings in shares of Aramark by 8.6% during the 2nd quarter. Atlanta Capital Management Co. L L C now owns 18,465,497 shares of the company’s stock valued at $665,866,000 after purchasing an additional 1,456,182 shares during the last quarter. Finally, Marshall Wace North America L.P. grew its holdings in shares of Aramark by 277.3% during the 2nd quarter. Marshall Wace North America L.P. now owns 1,101,735 shares of the company’s stock valued at $39,729,000 after purchasing an additional 809,712 shares during the last quarter. 98.56% of the stock is currently owned by hedge funds and other institutional investors.
NYSE:ARMK traded up $0.01 during mid-day trading on Wednesday, hitting $44.25. 32,289 shares of the company’s stock were exchanged, compared to its average volume of 2,283,268. The company has a 50 day simple moving average of $42.92 and a 200-day simple moving average of $36.64. The company has a current ratio of 1.22, a quick ratio of 1.04 and a debt-to-equity ratio of 2.19. Aramark has a fifty-two week low of $25.49 and a fifty-two week high of $44.80. The firm has a market capitalization of $10.92 billion, a P/E ratio of 22.25, a PEG ratio of 2.31 and a beta of 0.90.
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. 3.50% of the stock is owned by company insiders.
Several equities research analysts recently issued reports on the stock. Royal Bank of Canada set a $49.00 price target on shares of Aramark and gave the company a “buy” rating in a report on Monday, August 26th. Barclays lifted their price target on shares of Aramark from $35.00 to $45.00 and gave the company an “equal weight” rating in a report on Thursday, September 19th. They noted that the move was a valuation call. Robert W. Baird lifted their price target on shares of Aramark from $40.00 to $44.00 and gave the company a “neutral” rating in a report on Monday, August 19th. Zacks Investment Research lowered shares of Aramark from a “buy” rating to a “hold” rating in a report on Tuesday, October 15th. Finally, TheStreet raised shares of Aramark from a “c+” rating to a “b-” rating in a report on Friday, July 5th. Six research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Aramark presently has a consensus rating of “Buy” and a consensus target price of $45.58.
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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