Aramark (NYSE:ARMK) Shares Sold by Summit Trail Advisors LLC

Summit Trail Advisors LLC cut its holdings in Aramark (NYSE:ARMK) by 46.9% during the first quarter, HoldingsChannel reports. The fund owned 7,016 shares of the company’s stock after selling 6,198 shares during the period. Summit Trail Advisors LLC’s holdings in Aramark were worth $242,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Massachusetts Financial Services Co. MA lifted its stake in shares of Aramark by 63.2% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 13,593,734 shares of the company’s stock valued at $507,182,000 after purchasing an additional 5,263,817 shares during the last quarter. Norges Bank purchased a new position in Aramark during the fourth quarter worth about $88,949,000. Franklin Resources Inc. increased its position in shares of Aramark by 29.5% during the fourth quarter. Franklin Resources Inc. now owns 8,511,152 shares of the company’s stock valued at $317,551,000 after acquiring an additional 1,940,214 shares during the last quarter. PointState Capital LP raised its stake in shares of Aramark by 135.4% in the 4th quarter. PointState Capital LP now owns 2,690,617 shares of the company’s stock valued at $100,387,000 after acquiring an additional 1,547,792 shares during the period. Finally, Fiduciary Management Inc. WI lifted its holdings in shares of Aramark by 8.1% in the 4th quarter. Fiduciary Management Inc. WI now owns 11,454,740 shares of the company’s stock worth $427,376,000 after acquiring an additional 860,179 shares during the last quarter.

Analyst Ratings Changes

Several analysts recently weighed in on the stock. Royal Bank Of Canada reiterated an “outperform” rating and issued a $47.00 target price on shares of Aramark in a report on Wednesday, May 14th. Wall Street Zen cut Aramark from a “buy” rating to a “hold” rating in a research note on Saturday, June 28th. UBS Group increased their target price on Aramark from $40.00 to $44.00 and gave the stock a “buy” rating in a research note on Wednesday, May 7th. Finally, Morgan Stanley raised their target price on Aramark from $42.00 to $44.00 and gave the company an “equal weight” rating in a report on Monday. Three research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $43.91.

Aramark Price Performance

Shares of NYSE ARMK opened at $42.95 on Thursday. The company has a debt-to-equity ratio of 2.02, a current ratio of 1.21 and a quick ratio of 1.08. The company has a market cap of $11.26 billion, a price-to-earnings ratio of 33.04 and a beta of 1.28. The stock’s 50-day moving average is $38.89 and its two-hundred day moving average is $37.09. Aramark has a 1-year low of $29.92 and a 1-year high of $43.20.

Aramark (NYSE:ARMK) last released its earnings results on Tuesday, May 6th. The company reported $0.34 earnings per share for the quarter, topping analysts’ consensus estimates of $0.33 by $0.01. Aramark had a net margin of 1.97% and a return on equity of 15.07%. The firm had revenue of $4.33 billion for the quarter, compared to analyst estimates of $4.35 billion. During the same period in the prior year, the firm earned $0.30 earnings per share. The business’s quarterly revenue was up 1.9% compared to the same quarter last year. Analysts forecast that Aramark will post 1.92 EPS for the current fiscal year.

Aramark Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, May 28th. Shareholders of record on Wednesday, May 14th were given a $0.105 dividend. This represents a $0.42 dividend on an annualized basis and a dividend yield of 0.98%. Aramark’s dividend payout ratio is presently 32.31%.

Aramark Company Profile

Aramark provides food and facilities services to education, healthcare, business and industry, sports, leisure, and corrections clients in the United States and internationally. It operates through two segments, Food and Support Services United States, and Food and Support Services International. The company offers food-related managed services, including dining, catering, food service management, and convenience-oriented retail services; non-clinical food and food-related support services, such as patient food and nutrition, retail food, environmental services, and procurement services; and plant operations and maintenance, custodial/housekeeping, energy management, grounds keeping, and capital project management services.