Los Angeles Capital Management & Equity Research Inc. Sells 85,562 Shares of Aramark (ARMK)

Los Angeles Capital Management & Equity Research Inc. lessened its position in shares of Aramark (NYSE:ARMK) by 27.6% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 224,848 shares of the company’s stock after selling 85,562 shares during the period. Los Angeles Capital Management & Equity Research Inc. owned 0.09% of Aramark worth $9,131,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. New York State Teachers Retirement System bought a new stake in shares of Aramark during the 1st quarter valued at $793,000. Capstone Asset Management Co. bought a new stake in shares of Aramark during the 2nd quarter valued at $208,000. Bank of Montreal Can raised its stake in shares of Aramark by 11.5% during the 2nd quarter. Bank of Montreal Can now owns 23,097 shares of the company’s stock valued at $947,000 after purchasing an additional 2,373 shares during the period. Mn Services Vermogensbeheer B.V. raised its stake in shares of Aramark by 544.8% during the 2nd quarter. Mn Services Vermogensbeheer B.V. now owns 39,987 shares of the company’s stock valued at $1,639,000 after purchasing an additional 33,786 shares during the period. Finally, LS Investment Advisors LLC raised its stake in shares of Aramark by 116.8% during the 2nd quarter. LS Investment Advisors LLC now owns 7,958 shares of the company’s stock valued at $326,000 after purchasing an additional 4,288 shares during the period. 93.75% of the stock is currently owned by hedge funds and other institutional investors.

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A number of brokerages have weighed in on ARMK. Zacks Investment Research lowered Aramark from a “hold” rating to a “strong sell” rating in a research note on Wednesday, October 18th. Morgan Stanley upped their target price on Aramark from $39.00 to $40.00 and gave the stock an “equal weight” rating in a research note on Thursday, August 10th. Nomura restated a “buy” rating and issued a $45.00 target price (up from $43.00) on shares of Aramark in a research note on Wednesday, August 9th. Royal Bank Of Canada upped their target price on Aramark from $44.00 to $47.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 17th. Finally, Barclays PLC restated a “hold” rating and issued a $45.00 target price on shares of Aramark in a research note on Thursday, October 19th. One analyst has rated the stock with a sell rating, two have given a hold rating, four have given a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $44.83.

Aramark (NYSE ARMK) opened at $40.82 on Friday. Aramark has a fifty-two week low of $32.87 and a fifty-two week high of $44.12. The company has a quick ratio of 1.00, a current ratio of 1.30 and a debt-to-equity ratio of 2.34. The stock has a market capitalization of $10,005.19, a PE ratio of 23.06, a PEG ratio of 1.70 and a beta of 0.50.

Aramark (NYSE:ARMK) last posted its quarterly earnings data on Tuesday, November 14th. The company reported $0.54 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.52 by $0.02. Aramark had a return on equity of 19.69% and a net margin of 2.56%. The firm had revenue of $3.65 billion during the quarter, compared to analysts’ expectations of $3.70 billion. During the same period in the prior year, the business earned $0.49 EPS. The company’s revenue for the quarter was up 3.1% compared to the same quarter last year. research analysts anticipate that Aramark will post 2 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 7th. Stockholders of record on Monday, November 27th will be issued a $0.105 dividend. This is a boost from Aramark’s previous quarterly dividend of $0.10. This represents a $0.42 dividend on an annualized basis and a dividend yield of 1.03%. The ex-dividend date is Friday, November 24th. Aramark’s dividend payout ratio is presently 27.52%.

About Aramark

Aramark is a global provider of food, facilities and uniform services to education, healthcare, business and industry, and sports, leisure and corrections clients. The Company operates through three segments: Food and Support Services North America (FSS North America), Food and Support Services International (FSS International), and Uniform and Career Apparel (Uniform).

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Institutional Ownership by Quarter for Aramark (NYSE:ARMK)

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