Reinhart Partners Inc. trimmed its position in shares of Aramark (NYSE:ARMK) by 43.6% during the third quarter, HoldingsChannel.com reports. The firm owned 488,993 shares of the company’s stock after selling 378,385 shares during the period. Aramark makes up approximately 2.0% of Reinhart Partners Inc.’s portfolio, making the stock its 23rd biggest holding. Reinhart Partners Inc.’s holdings in Aramark were worth $21,310,000 at the end of the most recent reporting period.
Several other hedge funds have also recently made changes to their positions in ARMK. Alps Advisors Inc. acquired a new position in shares of Aramark in the third quarter worth approximately $372,000. Mackay Shields LLC lifted its stake in shares of Aramark by 29.0% in the third quarter. Mackay Shields LLC now owns 344,185 shares of the company’s stock worth $15,000,000 after acquiring an additional 77,403 shares during the period. IFM Investors Pty Ltd lifted its stake in shares of Aramark by 34.8% in the third quarter. IFM Investors Pty Ltd now owns 27,466 shares of the company’s stock worth $1,197,000 after acquiring an additional 7,087 shares during the period. Oppenheimer & Co. Inc. acquired a new position in shares of Aramark in the third quarter worth approximately $3,296,000. Finally, California Public Employees Retirement System lifted its stake in shares of Aramark by 28.8% in the third quarter. California Public Employees Retirement System now owns 462,436 shares of the company’s stock worth $20,153,000 after acquiring an additional 103,504 shares during the period. 98.18% of the stock is currently owned by hedge funds and other institutional investors.
A number of equities analysts recently commented on ARMK shares. Nomura raised Aramark from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $28.00 to $50.00 in a research note on Monday, August 19th. Robert W. Baird lifted their price objective on Aramark from $40.00 to $44.00 and gave the stock a “neutral” rating in a research note on Monday, August 19th. Barclays lifted their price objective on Aramark from $35.00 to $45.00 and gave the stock an “equal weight” rating in a research note on Thursday, September 19th. They noted that the move was a valuation call. Stifel Nicolaus raised Aramark from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $36.00 to $49.00 in a research note on Monday, August 19th. Finally, Zacks Investment Research downgraded Aramark from a “buy” rating to a “hold” rating in a report on Tuesday, October 15th. Six investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Aramark presently has a consensus rating of “Buy” and a consensus target price of $45.27.
ARMK stock traded down $0.34 during mid-day trading on Friday, reaching $42.99. The company’s stock had a trading volume of 1,735,926 shares, compared to its average volume of 3,218,916. The company has a market cap of $10.75 billion, a price-to-earnings ratio of 21.60, a price-to-earnings-growth ratio of 2.26 and a beta of 0.89. The business’s 50 day moving average price is $43.48 and its 200 day moving average price is $37.73. The company has a current ratio of 1.22, a quick ratio of 1.04 and a debt-to-equity ratio of 2.19. Aramark has a 12 month low of $25.49 and a 12 month high of $45.04.
In other Aramark news, insider Keith Bethel sold 7,500 shares of Aramark stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $37.40, for a total value of $280,500.00. Following the completion of the sale, the insider now directly owns 43,692 shares in the company, valued at $1,634,080.80. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 3.30% of the company’s stock.
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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