Aviva PLC Raises Holdings in Aramark (NYSE:ARMK)

Aviva PLC boosted its stake in shares of Aramark (NYSE:ARMK) by 2.6% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 101,916 shares of the company’s stock after purchasing an additional 2,617 shares during the quarter. Aviva PLC’s holdings in Aramark were worth $3,796,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of the business. First Mercantile Trust Co. increased its holdings in shares of Aramark by 11.0% in the 2nd quarter. First Mercantile Trust Co. now owns 5,217 shares of the company’s stock valued at $194,000 after acquiring an additional 518 shares during the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its holdings in shares of Aramark by 13.0% in the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 42,195 shares of the company’s stock valued at $1,572,000 after acquiring an additional 4,849 shares during the last quarter. Meeder Asset Management Inc. increased its holdings in shares of Aramark by 43.1% in the 2nd quarter. Meeder Asset Management Inc. now owns 13,033 shares of the company’s stock valued at $485,000 after acquiring an additional 3,926 shares during the last quarter. Deseret Mutual Benefit Administrators purchased a new position in shares of Aramark in the 2nd quarter valued at about $83,000. Finally, Summit Financial LLC purchased a new position in shares of Aramark in the 2nd quarter valued at about $467,000.

Aramark stock opened at $32.12 on Friday. Aramark has a twelve month low of $24.92 and a twelve month high of $43.12. The stock has a 50 day moving average of $34.29 and a two-hundred day moving average of $36.95. The company has a current ratio of 1.12, a quick ratio of 0.95 and a debt-to-equity ratio of 2.83. The stock has a market capitalization of $8.20 billion, a price-to-earnings ratio of -29.74 and a beta of 1.95.

Aramark (NYSE:ARMK) last posted its quarterly earnings data on Monday, August 9th. The company reported $0.02 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.02. Aramark had a negative return on equity of 8.24% and a negative net margin of 2.45%. The company had revenue of $2.98 billion during the quarter, compared to analysts’ expectations of $3.07 billion. During the same period last year, the firm earned ($0.69) EPS. The firm’s revenue for the quarter was up 38.5% on a year-over-year basis. Equities analysts predict that Aramark will post -0.32 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 8th. Stockholders of record on Wednesday, August 25th were issued a $0.11 dividend. The ex-dividend date was Tuesday, August 24th. This represents a $0.44 annualized dividend and a dividend yield of 1.37%. Aramark’s dividend payout ratio is currently -258.82%.

A number of research firms have recently commented on ARMK. Redburn Partners began coverage on Aramark in a report on Friday, September 10th. They issued a “buy” rating on the stock. Berenberg Bank upgraded Aramark to a “hold” rating and set a $36.00 price target on the stock in a research note on Thursday, June 3rd. Zacks Investment Research downgraded Aramark from a “buy” rating to a “hold” rating in a research note on Tuesday, August 10th. Finally, Barclays downgraded Aramark from an “equal weight” rating to an “underweight” rating and dropped their price target for the stock from $35.00 to $32.00 in a research note on Friday. One analyst has rated the stock with a sell rating, six have given a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $34.22.

Aramark Company Profile

Aramark engages in the provision of food, facilities, and uniform services. It operates through the following segments: Food and Support Services United States (FSS United States); Food and Support Services International (FSS International); and Uniform. The FSS United States segment offers food, hospitality and facility services for school districts, colleges and universities, healthcare facilities, businesses, sports, entertainment and recreational venues, conference and convention centers, national and state parks, and correctional institutions.

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Institutional Ownership by Quarter for Aramark (NYSE:ARMK)

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