Short Interest in Aramark (ARMK) Declines By 21.5%

Aramark (NYSE:ARMK) saw a significant decrease in short interest in the month of December. As of December 31st, there was short interest totalling 12,050,520 shares, a decrease of 21.5% from the December 14th total of 15,346,278 shares. Based on an average trading volume of 3,850,029 shares, the days-to-cover ratio is presently 3.1 days. Currently, 4.9% of the shares of the company are sold short.

Shares of NYSE:ARMK opened at $31.44 on Friday. Aramark has a twelve month low of $27.37 and a twelve month high of $46.09. The firm has a market capitalization of $7.69 billion, a PE ratio of 15.80, a price-to-earnings-growth ratio of 1.40 and a beta of 1.15. The company has a debt-to-equity ratio of 2.38, a current ratio of 1.17 and a quick ratio of 0.87.

Aramark (NYSE:ARMK) last announced its earnings results on Tuesday, November 13th. The company reported $0.70 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.67 by $0.03. Aramark had a return on equity of 17.76% and a net margin of 3.60%. The company had revenue of $3.91 billion during the quarter, compared to analyst estimates of $3.96 billion. During the same period last year, the company posted $0.54 earnings per share. The firm’s quarterly revenue was up 7.1% compared to the same quarter last year. Equities analysts anticipate that Aramark will post 2.2 earnings per share for the current year.

Several brokerages recently commented on ARMK. Zacks Investment Research raised Aramark from a “sell” rating to a “hold” rating in a research report on Tuesday, November 20th. Berenberg Bank raised Aramark from a “hold” rating to a “buy” rating and set a $31.00 target price for the company in a research report on Thursday. Nomura reduced their target price on Aramark from $50.00 to $47.00 and set a “buy” rating for the company in a research report on Thursday, November 15th. Royal Bank of Canada reduced their target price on Aramark to $44.00 and set an “outperform” rating for the company in a research report on Thursday, December 13th. They noted that the move was a valuation call. Finally, Barclays reaffirmed a “hold” rating and issued a $35.00 target price on shares of Aramark in a research report on Thursday, December 13th. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and nine have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $43.09.

In other Aramark news, Director Stephen I. Sadove acquired 6,000 shares of Aramark stock in a transaction dated Thursday, December 13th. The stock was bought at an average cost of $32.72 per share, with a total value of $196,320.00. Following the completion of the transaction, the director now owns 37,314 shares of the company’s stock, valued at $1,220,914.08. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Eric J. Foss acquired 92,564 shares of Aramark stock in a transaction dated Wednesday, December 12th. The stock was acquired at an average cost of $32.46 per share, with a total value of $3,004,627.44. Following the completion of the transaction, the chief executive officer now directly owns 1,679,407 shares of the company’s stock, valued at approximately $54,513,551.22. The disclosure for this purchase can be found here. 3.30% of the stock is currently owned by corporate insiders.

A number of hedge funds have recently made changes to their positions in ARMK. First Hawaiian Bank increased its position in Aramark by 48.3% in the fourth quarter. First Hawaiian Bank now owns 1,366 shares of the company’s stock worth $40,000 after purchasing an additional 445 shares during the period. IFP Advisors Inc increased its position in Aramark by 985.5% in the third quarter. IFP Advisors Inc now owns 2,399 shares of the company’s stock worth $103,000 after purchasing an additional 2,178 shares during the period. Captrust Financial Advisors increased its position in Aramark by 236.4% in the third quarter. Captrust Financial Advisors now owns 4,413 shares of the company’s stock worth $190,000 after purchasing an additional 3,101 shares during the period. Asset Management Group Inc. acquired a new stake in Aramark in the third quarter worth about $201,000. Finally, Fox Run Management L.L.C. bought a new position in Aramark during the fourth quarter worth about $213,000. Hedge funds and other institutional investors own 99.57% of the company’s stock.

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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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