First Mercantile Trust Co. Decreases Holdings in Aramark (ARMK)

First Mercantile Trust Co. cut its stake in Aramark (NYSE:ARMK) by 20.3% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 6,470 shares of the company’s stock after selling 1,645 shares during the quarter. First Mercantile Trust Co.’s holdings in Aramark were worth $191,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of the business. Vanguard Group Inc raised its holdings in Aramark by 1.0% in the 3rd quarter. Vanguard Group Inc now owns 20,930,336 shares of the company’s stock worth $900,423,000 after purchasing an additional 217,046 shares in the last quarter. FMR LLC raised its holdings in Aramark by 16.6% in the 4th quarter. FMR LLC now owns 16,753,318 shares of the company’s stock worth $485,344,000 after purchasing an additional 2,390,912 shares in the last quarter. Atlanta Capital Management Co. L L C raised its holdings in 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 worth $418,495,000 after purchasing an additional 502,826 shares in the last quarter. BlackRock Inc. raised its holdings in Aramark by 0.8% in the 4th quarter. BlackRock Inc. now owns 14,011,365 shares of the company’s stock worth $405,907,000 after purchasing an additional 112,878 shares in the last quarter. Finally, Lunia Capital LP raised its holdings in Aramark by 2,227.1% in the 4th quarter. Lunia Capital LP now owns 12,263,059 shares of the company’s stock worth $12,263,000 after purchasing an additional 11,736,091 shares in the last quarter.

NYSE:ARMK opened at $31.64 on Monday. The stock has a market cap of $7.80 billion, a price-to-earnings ratio of 15.90, a PEG ratio of 1.64 and a beta of 1.10. The company has a debt-to-equity ratio of 2.21, a current ratio of 1.14 and a quick ratio of 0.97. Aramark has a fifty-two week low of $25.49 and a fifty-two week high of $43.70.

Aramark (NYSE:ARMK) last released its quarterly earnings data on Tuesday, May 7th. The company reported $0.45 earnings per share for the quarter, beating analysts’ consensus estimates of $0.43 by $0.02. The business had revenue of $4 billion during the quarter, compared to analyst estimates of $4.01 billion. Aramark had a net margin of 3.27% and a return on equity of 17.31%. Aramark’s revenue was up 1.5% compared to the same quarter last year. During the same period last year, the business earned $0.48 EPS. Equities research analysts expect that Aramark will post 2.12 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 30th. Shareholders of record on Thursday, May 16th will be paid a dividend of $0.11 per share. The ex-dividend date is Wednesday, May 15th. This represents a $0.44 dividend on an annualized basis and a yield of 1.39%. Aramark’s dividend payout ratio is currently 22.11%.

Several research analysts recently issued reports on ARMK shares. Zacks Investment Research upgraded shares of Aramark from a “sell” rating to a “hold” rating in a research note on Thursday. Morgan Stanley set a $34.00 price target on shares of Aramark and gave the stock a “hold” rating in a research note on Wednesday, May 8th. Nomura reiterated a “neutral” rating and issued a $28.00 price target (down from $46.00) on shares of Aramark in a research note on Monday, March 18th. Credit Suisse Group decreased their price target on shares of Aramark from $53.00 to $44.00 and set an “outperform” rating for the company in a research note on Wednesday, February 6th. Finally, Goldman Sachs Group lowered shares of Aramark from a “buy” rating to a “neutral” rating in a research note on Monday, February 11th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and eight have issued a buy rating to the stock. The company has an average rating of “Buy” and an average price target of $40.17.

In other Aramark news, EVP Lynn Mckee sold 43,915 shares of the firm’s stock in a transaction dated Friday, March 8th. The shares were sold at an average price of $29.58, for a total transaction of $1,299,005.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 3.30% of the stock is currently owned by company insiders.

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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.

Further Reading: Average Daily Trade Volume – ADTV

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Institutional Ownership by Quarter for Aramark (NYSE:ARMK)

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