JustInvest LLC Makes New Investment in Aramark (NYSE:ARMK)

JustInvest LLC acquired a new position in shares of Aramark (NYSE:ARMK) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 9,675 shares of the company’s stock, valued at approximately $360,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. HighPoint Advisor Group LLC raised its holdings in Aramark by 5.5% during the 2nd quarter. HighPoint Advisor Group LLC now owns 6,439 shares of the company’s stock worth $240,000 after buying an additional 334 shares during the period. Arizona State Retirement System increased its holdings in shares of Aramark by 0.6% in the 1st quarter. Arizona State Retirement System now owns 65,687 shares of the company’s stock valued at $2,482,000 after purchasing an additional 400 shares during the period. First Mercantile Trust Co. increased its holdings in shares of Aramark by 11.0% in the 2nd quarter. First Mercantile Trust Co. now owns 5,217 shares of the company’s stock valued at $194,000 after purchasing an additional 518 shares during the period. Korea Investment CORP increased its holdings in shares of Aramark by 1.0% in the 1st quarter. Korea Investment CORP now owns 61,500 shares of the company’s stock valued at $2,323,000 after purchasing an additional 600 shares during the period. Finally, EagleClaw Capital Managment LLC increased its holdings in shares of Aramark by 1.6% in the 2nd quarter. EagleClaw Capital Managment LLC now owns 38,850 shares of the company’s stock valued at $1,447,000 after purchasing an additional 600 shares during the period.

ARMK has been the topic of a number of research reports. Barclays downgraded Aramark from an “equal weight” rating to an “underweight” rating and dropped their target price for the company from $35.00 to $32.00 in a report on Friday, September 17th. Zacks Investment Research downgraded Aramark from a “buy” rating to a “hold” rating in a report on Tuesday, August 10th. Berenberg Bank upgraded Aramark to a “hold” rating and set a $36.00 target price on the stock in a report on Thursday, June 3rd. Finally, Redburn Partners initiated coverage on Aramark in a report on Friday, September 10th. They issued a “buy” rating on the stock. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $34.22.

Shares of Aramark stock opened at $33.25 on Friday. The stock has a market capitalization of $8.49 billion, a P/E ratio of -30.79 and a beta of 1.95. The company has a quick ratio of 0.95, a current ratio of 1.12 and a debt-to-equity ratio of 2.83. The stock has a 50 day moving average price of $34.05 and a two-hundred day moving average price of $36.66. Aramark has a 12-month low of $25.65 and a 12-month high of $43.12.

Aramark (NYSE:ARMK) last announced its earnings results on Monday, August 9th. The company reported $0.02 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.02. The firm had revenue of $2.98 billion during the quarter, compared to analysts’ expectations of $3.07 billion. Aramark had a negative return on equity of 8.24% and a negative net margin of 2.45%. The company’s revenue was up 38.5% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.69) earnings per share. Sell-side analysts anticipate that Aramark will post -0.32 earnings per share for the current year.

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 8th. Shareholders of record on Wednesday, August 25th were given a dividend of $0.11 per share. The ex-dividend date was Tuesday, August 24th. This represents a $0.44 dividend on an annualized basis and a yield of 1.32%. Aramark’s payout ratio is currently -258.82%.

Aramark Company Profile

Aramark engages in the provision of food, facilities, and uniform services. It operates through the following segments: Food and Support Services United States (FSS United States); Food and Support Services International (FSS International); and Uniform. The FSS United States segment offers food, hospitality and facility services for school districts, colleges and universities, healthcare facilities, businesses, sports, entertainment and recreational venues, conference and convention centers, national and state parks, and correctional institutions.

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Institutional Ownership by Quarter for Aramark (NYSE:ARMK)

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