Russell Investments Group Ltd. increased its position in shares of Aramark (NYSE:ARMK) by 12.6% during the first quarter, Holdings Channel reports. The firm owned 103,832 shares of the company’s stock after buying an additional 11,651 shares during the period. Russell Investments Group Ltd.’s holdings in Aramark were worth $3,829,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Price T Rowe Associates Inc. MD raised its position in Aramark by 64.9% in the third quarter. Price T Rowe Associates Inc. MD now owns 13,287,679 shares of the company’s stock worth $505,330,000 after buying an additional 5,229,490 shares during the period. Norges Bank bought a new position in Aramark during the fourth quarter worth $75,501,000. Thrivent Financial for Lutherans raised its position in Aramark by 677.4% in the fourth quarter. Thrivent Financial for Lutherans now owns 1,996,340 shares of the company’s stock worth $71,309,000 after buying an additional 1,739,540 shares during the period. Alyeska Investment Group L.P. bought a new position in Aramark during the fourth quarter worth $40,178,000. Finally, Atlanta Capital Management Co. L L C raised its position in Aramark by 15.9% in the fourth quarter. Atlanta Capital Management Co. L L C now owns 7,274,420 shares of the company’s stock worth $259,842,000 after buying an additional 997,654 shares during the period. 93.34% of the stock is owned by institutional investors.
Shares of Aramark (NYSE ARMK) opened at 38.92 on Tuesday. The firm’s 50-day moving average price is $36.93 and its 200 day moving average price is $35.87. The stock has a market capitalization of $9.50 billion, a P/E ratio of 29.89 and a beta of 0.48. Aramark has a 52 week low of $31.38 and a 52 week high of $38.98.
Aramark (NYSE:ARMK) last issued its quarterly earnings results on Tuesday, May 9th. The company reported $0.45 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.37 by $0.08. The business had revenue of $3.62 billion for the quarter, compared to the consensus estimate of $3.63 billion. Aramark had a return on equity of 18.87% and a net margin of 2.21%. The business’s quarterly revenue was up 1.3% on a year-over-year basis. During the same period in the prior year, the firm posted $0.39 earnings per share. Analysts expect that Aramark will post $1.96 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 6th. Stockholders of record on Wednesday, May 17th will be given a dividend of $0.103 per share. This represents a $0.41 dividend on an annualized basis and a dividend yield of 1.06%. The ex-dividend date of this dividend is Monday, May 15th. Aramark’s payout ratio is presently 32.03%. ARMK has been the subject of a number of analyst reports. Deutsche Bank AG raised their price objective on Aramark from $42.00 to $48.00 and gave the company a “buy” rating in a research report on Wednesday, May 10th. Zacks Investment Research raised Aramark from a “hold” rating to a “buy” rating and set a $41.00 price objective for the company in a research report on Tuesday, April 25th. Finally, Goldman Sachs Group Inc upgraded Aramark from a “buy” rating to a “conviction-buy” rating and set a $44.00 target price on the stock in a research note on Thursday, March 2nd. Two analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $42.70.
In other news, VP James J. Tarangelo sold 3,000 shares of the company’s stock in a transaction on Thursday, May 25th. The stock was sold at an average price of $37.15, for a total transaction of $111,450.00. Following the transaction, the vice president now directly owns 2,871 shares of the company’s stock, valued at $106,657.65. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Corporate insiders own 2.90% of the company’s stock. Aramark Company Profile
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Want to see what other hedge funds are holding ARMK? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Aramark (NYSE:ARMK).