Aramark (NYSE:ARMK) Stake Raised by Bank of America Corp DE

Bank of America Corp DE increased its stake in shares of Aramark (NYSE:ARMK) by 13.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,350,719 shares of the company’s stock after purchasing an additional 163,375 shares during the quarter. Bank of America Corp DE owned approximately 0.55% of Aramark worth $39,131,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently bought and sold shares of the stock. Vanguard Group Inc lifted its stake in shares of Aramark by 1.0% in the 3rd quarter. Vanguard Group Inc now owns 20,930,336 shares of the company’s stock valued at $900,423,000 after purchasing an additional 217,046 shares in the last quarter. Atlanta Capital Management Co. L L C lifted its stake in shares of Aramark by 3.6% in the 4th quarter. Atlanta Capital Management Co. L L C now owns 14,445,813 shares of the company’s stock valued at $418,495,000 after purchasing an additional 502,826 shares in the last quarter. BlackRock Inc. lifted its stake in shares of Aramark by 0.8% in the 4th quarter. BlackRock Inc. now owns 14,011,365 shares of the company’s stock valued at $405,907,000 after purchasing an additional 112,878 shares in the last quarter. Lunia Capital LP lifted its stake in shares of Aramark by 2,227.1% in the 4th quarter. Lunia Capital LP now owns 12,263,059 shares of the company’s stock valued at $12,263,000 after purchasing an additional 11,736,091 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA lifted its stake in shares of Aramark by 4.7% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 6,155,176 shares of the company’s stock valued at $178,314,000 after purchasing an additional 276,059 shares in the last quarter.

In related news, VP Stephen P. Bramlage, Jr. acquired 3,195 shares of Aramark stock in a transaction that occurred on Thursday, February 14th. The stock was acquired at an average price of $31.26 per share, for a total transaction of $99,875.70. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Lynn Mckee sold 43,915 shares of the business’s stock in a transaction that occurred on Friday, March 8th. The shares were sold at an average price of $29.58, for a total value of $1,299,005.70. The disclosure for this sale can be found here. 3.30% of the stock is owned by insiders.

ARMK has been the topic of several analyst reports. Credit Suisse Group dropped their target price on Aramark from $53.00 to $44.00 and set an “outperform” rating on the stock in a report on Wednesday, February 6th. Goldman Sachs Group downgraded Aramark from a “buy” rating to a “neutral” rating in a report on Monday, February 11th. Zacks Investment Research upgraded Aramark from a “sell” rating to a “hold” rating and set a $35.00 target price on the stock in a report on Tuesday, February 12th. Berenberg Bank upgraded Aramark from a “hold” rating to a “buy” rating and set a $31.00 target price on the stock in a report on Thursday, January 17th. Finally, Nomura reiterated a “neutral” rating and set a $28.00 target price (down from $46.00) on shares of Aramark in a report on Monday, March 18th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and eight have given a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $40.17.

ARMK stock traded up $0.38 during midday trading on Friday, hitting $31.65. 1,860,636 shares of the company’s stock were exchanged, compared to its average volume of 2,253,026. The company has a quick ratio of 1.04, a current ratio of 1.21 and a debt-to-equity ratio of 2.28. Aramark has a 12-month low of $27.37 and a 12-month high of $43.70. The company has a market capitalization of $7.80 billion, a PE ratio of 15.90, a P/E/G ratio of 1.48 and a beta of 1.10.

Aramark (NYSE:ARMK) last posted its quarterly earnings data on Tuesday, February 5th. The company reported $0.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.55 by $0.08. Aramark had a return on equity of 17.81% and a net margin of 3.27%. The company had revenue of $4.27 billion for the quarter, compared to the consensus estimate of $4.19 billion. During the same period in the previous year, the business earned $0.59 EPS. Aramark’s revenue for the quarter was up 7.6% compared to the same quarter last year. As a group, sell-side analysts anticipate that Aramark will post 2.12 EPS for the current year.

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Aramark 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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Institutional Ownership by Quarter for Aramark (NYSE:ARMK)

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