Aramark (NYSE:ARMK) Position Reduced by Montag & Caldwell LLC

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Montag & Caldwell LLC cut its position in shares of Aramark (NYSE:ARMK) by 98.2% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 11,878 shares of the company’s stock after selling 642,218 shares during the quarter. Montag & Caldwell LLC’s holdings in Aramark were worth $428,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the business. DekaBank Deutsche Girozentrale boosted its position in shares of Aramark by 41.9% in the second quarter. DekaBank Deutsche Girozentrale now owns 29,346 shares of the company’s stock valued at $1,067,000 after acquiring an additional 8,662 shares during the period. Janus Henderson Group PLC lifted its position in Aramark by 4.9% in the second quarter. Janus Henderson Group PLC now owns 10,008,714 shares of the company’s stock worth $360,913,000 after purchasing an additional 469,963 shares during the period. Aperio Group LLC lifted its position in Aramark by 32.7% in the second quarter. Aperio Group LLC now owns 32,091 shares of the company’s stock worth $1,157,000 after purchasing an additional 7,908 shares during the period. Endurance Wealth Management Inc. lifted its position in Aramark by 11.0% in the second quarter. Endurance Wealth Management Inc. now owns 50,380 shares of the company’s stock worth $1,817,000 after purchasing an additional 4,975 shares during the period. Finally, Janney Montgomery Scott LLC bought a new position in Aramark in the second quarter worth $223,000. 97.47% of the stock is owned by institutional investors.

Aramark stock traded up $0.34 during mid-day trading on Thursday, hitting $37.50. 65,180 shares of the company were exchanged, compared to its average volume of 4,412,587. The company has a debt-to-equity ratio of 2.19, a current ratio of 1.22 and a quick ratio of 1.04. The business has a fifty day moving average of $36.28. Aramark has a 1-year low of $25.49 and a 1-year high of $43.70. The company has a market capitalization of $9.39 billion, a P/E ratio of 18.92, a PEG ratio of 2.18 and a beta of 0.91.

Aramark (NYSE:ARMK) last released its quarterly earnings data on Tuesday, August 6th. The company reported $0.47 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.39 by $0.08. Aramark had a return on equity of 17.39% and a net margin of 3.33%. The firm had revenue of $4.01 billion during the quarter, compared to analyst estimates of $3.99 billion. During the same period in the prior year, the company posted $0.48 earnings per share. The business’s revenue for the quarter was up 1.0% compared to the same quarter last year. Research analysts anticipate that Aramark will post 2.03 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 29th. Shareholders of record on Thursday, August 15th will be paid a dividend of $0.11 per share. The ex-dividend date of this dividend is Wednesday, August 14th. This represents a $0.44 annualized dividend and a yield of 1.17%. Aramark’s dividend payout ratio is currently 22.11%.

Several research analysts recently commented on the company. Robert W. Baird cut Aramark from an “outperform” rating to a “neutral” rating and raised their target price for the stock from $38.00 to $40.00 in a research report on Wednesday, August 7th. ValuEngine raised Aramark from a “sell” rating to a “hold” rating in a research report on Thursday, May 30th. Nomura reaffirmed a “hold” rating and issued a $28.00 target price on shares of Aramark in a research report on Thursday, August 8th. TheStreet raised Aramark from a “c+” rating to a “b-” rating in a research report on Friday, July 5th. Finally, Morgan Stanley set a $34.00 target price on Aramark and gave the stock a “hold” rating in a research report on Wednesday, May 8th. Eight investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. Aramark currently has an average rating of “Hold” and an average price target of $39.42.

About Aramark

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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Institutional Ownership by Quarter for Aramark (NYSE:ARMK)

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