Xact Kapitalforvaltning AB boosted its stake in shares of Aramark (NYSE:ARMK) by 13.7% during the second quarter, Holdings Channel reports. The fund owned 35,648 shares of the company’s stock after buying an additional 4,289 shares during the period. Xact Kapitalforvaltning AB’s holdings in Aramark were worth $1,461,000 at the end of the most recent quarter.
Several other hedge funds have also recently added to or reduced their stakes in ARMK. State of Alaska Department of Revenue raised its stake in Aramark by 5.2% in the first quarter. State of Alaska Department of Revenue now owns 16,199 shares of the company’s stock valued at $597,000 after buying an additional 798 shares during the last quarter. Quantitative Systematic Strategies LLC purchased a new stake in Aramark during the first quarter valued at approximately $1,035,000. DnB Asset Management AS raised its stake in Aramark by 44.8% in the first quarter. DnB Asset Management AS now owns 30,400 shares of the company’s stock valued at $1,121,000 after buying an additional 9,400 shares during the last quarter. Mountain Pacific Investment Advisers Inc. ID raised its stake in Aramark by 16.0% in the first quarter. Mountain Pacific Investment Advisers Inc. ID now owns 444,100 shares of the company’s stock valued at $16,374,000 after buying an additional 61,300 shares during the last quarter. Finally, Fox Run Management L.L.C. purchased a new stake in Aramark during the first quarter valued at approximately $1,007,000. 95.25% of the stock is currently owned by hedge funds and other institutional investors.
Aramark (ARMK) opened at 40.39 on Monday. The firm has a 50 day moving average of $38.92 and a 200 day moving average of $36.55. The firm has a market cap of $9.86 billion, a P/E ratio of 31.02 and a beta of 0.49. Aramark has a 1-year low of $32.73 and a 1-year high of $41.72.
Aramark (NYSE:ARMK) last issued its earnings results on Tuesday, May 9th. The company reported $0.45 EPS for the quarter, beating the Zacks’ consensus estimate of $0.37 by $0.08. Aramark had a net margin of 2.23% and a return on equity of 19.13%. The business had revenue of $3.62 billion for the quarter, compared to the consensus estimate of $3.63 billion. During the same quarter last year, the firm posted $0.39 EPS. The business’s revenue for the quarter was up 1.3% compared to the same quarter last year. On average, equities research analysts expect that Aramark will post $1.96 EPS for the current year.
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ARMK has been the topic of a number of research analyst reports. BidaskClub raised Aramark from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, June 28th. Barclays PLC boosted their target price on Aramark from $37.00 to $39.00 and gave the company an “equal weight” rating in a research report on Friday, June 23rd. Zacks Investment Research lowered Aramark from a “buy” rating to a “hold” rating in a research report on Tuesday, July 11th. Finally, Deutsche Bank AG boosted their target price on Aramark from $42.00 to $48.00 and gave the company a “buy” rating in a research report on Wednesday, May 10th. Three equities research 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 currently has an average rating of “Buy” and a consensus price target of $42.90.
In related news, VP James J. Tarangelo sold 3,000 shares of Aramark stock in a transaction on Thursday, May 25th. The shares were sold at an average price of $37.15, for a total transaction of $111,450.00. Following the sale, the vice president now owns 2,871 shares of the company’s stock, valued at approximately $106,657.65. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Brian P. Pressler sold 10,629 shares of Aramark stock in a transaction on Friday, June 16th. The stock was sold at an average price of $40.80, for a total transaction of $433,663.20. Following the sale, the senior vice president now directly owns 14,285 shares in the company, valued at approximately $582,828. The disclosure for this sale can be found here. In the last three months, insiders sold 143,629 shares of company stock worth $5,618,413. Insiders own 2.90% of the company’s stock.
Aramark is a global provider of food, facilities and uniform services to education, healthcare, business and industry, and sports, leisure and corrections clients. The Company operates through three segments: Food and Support Services North America (FSS North America), Food and Support Services International (FSS International), and Uniform and Career Apparel (Uniform).
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