AlphaQuest LLC Cuts Position in Aramark (NYSE:ARMK)

by · The Cerbat Gem

AlphaQuest LLC reduced its holdings in shares of Aramark (NYSE:ARMK – Free Report) by 67.0% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 11,948 shares of the company’s stock after selling 24,230 shares during the quarter. AlphaQuest LLC’s holdings in Aramark were worth $446,000 as of its most recent filing with the SEC.

Other hedge funds also recently added to or reduced their stakes in the company. Assetmark Inc. increased its holdings in shares of Aramark by 62.7% in the third quarter. Assetmark Inc. now owns 2,154 shares of the company’s stock valued at $83,000 after purchasing an additional 830 shares during the period. Sigma Planning Corp boosted its position in Aramark by 7.1% during the third quarter. Sigma Planning Corp now owns 12,666 shares of the company’s stock worth $491,000 after purchasing an additional 842 shares in the last quarter. GSA Capital Partners LLP grew its position in shares of Aramark by 24.1% in the third quarter. GSA Capital Partners LLP now owns 35,227 shares of the company’s stock valued at $1,364,000 after purchasing an additional 6,837 shares during the last quarter. Oppenheimer Asset Management Inc. boosted its stake in shares of Aramark by 25.8% during the third quarter. Oppenheimer Asset Management Inc. now owns 11,733 shares of the company’s stock valued at $454,000 after acquiring an additional 2,406 shares during the last quarter. Finally, KBC Group NV grew its stake in Aramark by 18.3% in the 3rd quarter. KBC Group NV now owns 6,878 shares of the company’s stock worth $266,000 after acquiring an additional 1,064 shares during the period.

Aramark Trading Up 0.0 %

NYSE:ARMK opened at $34.44 on Friday. The stock has a market cap of $9.13 billion, a price-to-earnings ratio of 27.11 and a beta of 1.60. The company has a debt-to-equity ratio of 1.61, a quick ratio of 0.84 and a current ratio of 0.94. Aramark has a 1 year low of $29.82 and a 1 year high of $42.49. The business has a fifty day moving average of $37.42 and a 200-day moving average of $38.07.

Aramark (NYSE:ARMK – Get Free Report) last released its quarterly earnings results on Tuesday, February 4th. The company reported $0.51 EPS for the quarter, topping analysts’ consensus estimates of $0.48 by $0.03. The company had revenue of $4.55 billion for the quarter, compared to the consensus estimate of $4.61 billion. Aramark had a net margin of 1.94% and a return on equity of 14.72%. Aramark’s revenue was up 3.3% on a year-over-year basis. During the same period in the previous year, the firm earned $0.41 EPS. Equities analysts predict that Aramark will post 1.92 earnings per share for the current year.

Aramark Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, February 24th. Stockholders of record on Monday, February 10th were given a dividend of $0.105 per share. The ex-dividend date was Monday, February 10th. This is a boost from Aramark’s previous quarterly dividend of $0.00. This represents a $0.42 annualized dividend and a dividend yield of 1.22%. Aramark’s dividend payout ratio (DPR) is 33.07%.

Analysts Set New Price Targets

ARMK has been the topic of a number of research analyst reports. Royal Bank of Canada reiterated an “outperform” rating and issued a $47.00 target price on shares of Aramark in a report on Thursday, February 6th. Morgan Stanley upped their price objective on Aramark from $40.00 to $43.00 and gave the company an “equal weight” rating in a research note on Thursday, December 12th. Citigroup began coverage on shares of Aramark in a report on Monday, February 24th. They issued a “buy” rating and a $48.00 price target for the company. StockNews.com lowered shares of Aramark from a “buy” rating to a “hold” rating in a research note on Tuesday, January 7th. Finally, Robert W. Baird lifted their target price on Aramark from $44.00 to $45.00 and gave the company a “neutral” rating in a research note on Thursday, December 12th. Three investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $43.42.

Get Our Latest Report on ARMK

Aramark Company Profile

(Free Report)

Aramark provides food and facilities services to education, healthcare, business and industry, sports, leisure, and corrections clients in the United States and internationally. It operates through two segments, Food and Support Services United States, and Food and Support Services International. The company offers food-related managed services, including dining, catering, food service management, and convenience-oriented retail services; non-clinical food and food-related support services, such as patient food and nutrition, retail food, environmental services, and procurement services; and plant operations and maintenance, custodial/housekeeping, energy management, grounds keeping, and capital project management services.

Recommended Stories

Want to see what other hedge funds are holding ARMK? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Aramark (NYSE:ARMK – Free Report).