Montag & Caldwell LLC Sells 642,218 Shares of Aramark (NYSE:ARMK)

Montag & Caldwell LLC lessened its holdings in shares of Aramark (NYSE:ARMK) by 98.2% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,878 shares of the company’s stock after selling 642,218 shares during the period. Montag & Caldwell LLC’s holdings in Aramark were worth $428,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Putnam FL Investment Management Co. raised its position in Aramark by 1.4% in the 2nd quarter. Putnam FL Investment Management Co. now owns 20,830 shares of the company’s stock valued at $751,000 after buying an additional 282 shares during the last quarter. Squar Milner Financial Services LLC raised its position in Aramark by 8.4% in the 2nd quarter. Squar Milner Financial Services LLC now owns 3,712 shares of the company’s stock valued at $134,000 after buying an additional 288 shares during the last quarter. CIBC Asset Management Inc raised its position in Aramark by 3.0% in the 1st quarter. CIBC Asset Management Inc now owns 12,169 shares of the company’s stock valued at $360,000 after buying an additional 349 shares during the last quarter. Janney Capital Management LLC raised its position in Aramark by 10.3% in the 1st quarter. Janney Capital Management LLC now owns 8,998 shares of the company’s stock valued at $266,000 after buying an additional 837 shares during the last quarter. Finally, Machina Capital S.A.S. raised its position in Aramark by 18.3% in the 2nd quarter. Machina Capital S.A.S. now owns 5,456 shares of the company’s stock valued at $197,000 after buying an additional 844 shares during the last quarter. Institutional investors and hedge funds own 97.47% of the company’s stock.

Shares of NYSE:ARMK traded up $0.34 during trading on Thursday, hitting $37.50. 65,180 shares of the company were exchanged, compared to its average volume of 4,412,587. The stock has a market capitalization of $9.39 billion, a PE ratio of 18.92, a price-to-earnings-growth ratio of 2.18 and a beta of 0.91. Aramark has a fifty-two week low of $25.49 and a fifty-two week high of $43.70. The firm has a fifty day simple moving average of $36.28. 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 (NYSE:ARMK) last posted its quarterly earnings results on Tuesday, August 6th. The company reported $0.47 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.39 by $0.08. The firm had revenue of $4.01 billion for the quarter, compared to analyst estimates of $3.99 billion. Aramark had a return on equity of 17.39% and a net margin of 3.33%. The business’s quarterly revenue was up 1.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.48 EPS. As a group, sell-side analysts predict that Aramark will post 2.03 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, August 29th. Shareholders of record on Thursday, August 15th will be given a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a dividend yield of 1.17%. The ex-dividend date of this dividend is Wednesday, August 14th. Aramark’s dividend payout ratio (DPR) is 22.11%.

A number of equities research analysts recently issued reports on the company. Morgan Stanley set a $34.00 target price on Aramark and gave the company a “hold” rating in a research report on Wednesday, May 8th. Zacks Investment Research raised Aramark from a “sell” rating to a “hold” rating in a research report on Tuesday, July 16th. ValuEngine raised Aramark from a “sell” rating to a “hold” rating in a research report on Thursday, May 30th. Stifel Nicolaus reissued a “hold” rating and issued a $36.00 target price on shares of Aramark in a research report on Wednesday, August 7th. Finally, TheStreet raised Aramark from a “c+” rating to a “b-” rating in a research report on Friday, July 5th. Eight analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Aramark currently has an average rating of “Hold” and an average price target of $39.42.

About Aramark

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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