DnB Asset Management AS Grows Position in Aramark (NYSE:ARMK)

DnB Asset Management AS raised its position in shares of Aramark (NYSE:ARMK) by 6.3% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 31,900 shares of the company’s stock after buying an additional 1,900 shares during the period. DnB Asset Management AS’s holdings in Aramark were worth $1,183,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the business. Macquarie Group Ltd. increased its stake in Aramark by 5.7% during the 4th quarter. Macquarie Group Ltd. now owns 347,447 shares of the company’s stock valued at $14,910,000 after purchasing an additional 18,716 shares in the last quarter. Two Sigma Advisers LP bought a new stake in Aramark during the 4th quarter valued at about $7,166,000. HBK Investments L P bought a new stake in Aramark during the 4th quarter valued at about $1,286,000. Mackay Shields LLC bought a new stake in Aramark during the 1st quarter valued at about $550,000. Finally, Raymond James & Associates increased its stake in Aramark by 11.1% during the 4th quarter. Raymond James & Associates now owns 49,073 shares of the company’s stock valued at $2,097,000 after purchasing an additional 4,909 shares in the last quarter. 93.62% of the stock is owned by institutional investors and hedge funds.

A number of analysts have recently issued reports on ARMK shares. Zacks Investment Research downgraded shares of Aramark from a “hold” rating to a “sell” rating in a report on Thursday, April 19th. ValuEngine downgraded shares of Aramark from a “hold” rating to a “sell” rating in a report on Friday. Finally, TheStreet downgraded shares of Aramark from a “b” rating to a “c+” rating in a report on Tuesday, May 8th. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and five have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $47.33.

Shares of Aramark traded up $2.76, hitting $41.01, on Tuesday, Marketbeat.com reports. 6,494,300 shares of the company traded hands, compared to its average volume of 1,486,726. The stock has a market cap of $9.44 billion, a P/E ratio of 23.14 and a beta of 0.69. The company has a debt-to-equity ratio of 2.77, a current ratio of 1.30 and a quick ratio of 0.98. Aramark has a 52 week low of $36.28 and a 52 week high of $46.09.

Aramark (NYSE:ARMK) last released its quarterly earnings data on Tuesday, May 8th. The company reported $0.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.46 by $0.02. Aramark had a net margin of 3.29% and a return on equity of 17.96%. The firm had revenue of $3.94 billion for the quarter, compared to analysts’ expectations of $3.91 billion. During the same quarter last year, the business posted $0.45 earnings per share. The company’s revenue for the quarter was up 8.8% compared to the same quarter last year. equities analysts expect that Aramark will post 2.02 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 30th. Investors of record on Thursday, August 16th will be given a $0.105 dividend. This represents a $0.42 annualized dividend and a yield of 1.02%. The ex-dividend date is Wednesday, August 15th. Aramark’s dividend payout ratio is presently 23.73%.

About Aramark

Aramark provides food, facilities, and uniform services to education, healthcare, business and industry, sports, leisure, and corrections clients in North America and internationally. The company operates through three segments: Food and Support Services North America, Food and Support Services International, Uniform and Career Apparel.

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Institutional Ownership by Quarter for Aramark (NYSE:ARMK)

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