Seven Bridges Advisors LLC lowered its stake in shares of Aramark (NYSE:ARMK) by 18.4% during the third quarter, Holdings Channel reports. The institutional investor owned 20,826 shares of the company’s stock after selling 4,694 shares during the period. Seven Bridges Advisors LLC’s holdings in Aramark were worth $792,000 as of its most recent filing with the SEC.
Several other large investors also recently made changes to their positions in ARMK. OLD Mutual Customised Solutions Proprietary Ltd. bought a new stake in shares of Aramark during the second quarter valued at approximately $107,000. MU Investments Co. Ltd. bought a new stake in shares of Aramark during the second quarter valued at approximately $148,000. Daiwa Securities Group Inc. increased its stake in shares of Aramark by 11.5% in the second quarter. Daiwa Securities Group Inc. now owns 5,350 shares of the company’s stock valued at $179,000 after buying an additional 550 shares in the last quarter. Invictus RG bought a new stake in shares of Aramark during the second quarter valued at approximately $185,000. Finally, US Bancorp DE increased its stake in shares of Aramark by 9.1% in the second quarter. US Bancorp DE now owns 5,760 shares of the company’s stock valued at $193,000 after buying an additional 480 shares in the last quarter. 94.05% of the stock is owned by institutional investors and hedge funds.
Shares of Aramark (NYSE:ARMK) traded down 0.60% during midday trading on Wednesday, reaching $33.30. The company had a trading volume of 2,629,064 shares. The firm has a market cap of $8.15 billion, a P/E ratio of 28.71 and a beta of 0.50. Aramark has a 52-week low of $29.18 and a 52-week high of $38.30. The company’s 50-day moving average is $35.41 and its 200-day moving average is $36.27.
Aramark (NYSE:ARMK) last released its earnings results on Tuesday, November 15th. The company reported $0.49 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.49. The company earned $3.54 billion during the quarter, compared to analysts’ expectations of $3.67 billion. Aramark had a return on equity of 18.96% and a net margin of 2.00%. The business’s revenue for the quarter was up .0% on a year-over-year basis. During the same period last year, the firm earned $0.44 EPS. Equities research analysts expect that Aramark will post $1.90 EPS for the current fiscal year.
Several equities research analysts have recently commented on ARMK shares. RBC Capital Markets reaffirmed a “buy” rating and set a $41.00 target price (down from $42.00) on shares of Aramark in a report on Wednesday, November 16th. Zacks Investment Research raised Aramark from a “hold” rating to a “buy” rating and set a $43.00 target price for the company in a report on Tuesday, October 4th. Finally, Barclays PLC downgraded Aramark from an “overweight” rating to an “equal weight” rating and reduced their target price for the company from $38.00 to $37.00 in a report on Tuesday, January 10th. Four investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. The company has an average rating of “Buy” and an average price target of $40.67.
In other news, Director Stephen I. Sadove bought 7,500 shares of the stock in a transaction dated Thursday, November 17th. The stock was bought at an average cost of $33.53 per share, with a total value of $251,475.00. Following the purchase, the director now owns 22,489 shares of the company’s stock, valued at $754,056.17. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. Also, Chairman Eric J. Foss bought 87,566 shares of the stock in a transaction dated Monday, November 21st. The stock was purchased at an average cost of $34.50 per share, with a total value of $3,021,027.00. Following the completion of the purchase, the chairman now directly owns 1,514,253 shares in the company, valued at approximately $52,241,728.50. The disclosure for this purchase can be found here. 2.90% of the stock is owned by insiders.
Aramark provides 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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