AQR Capital Management LLC Boosts Stake in Aramark (NYSE:ARMK)

AQR Capital Management LLC grew its stake in shares of Aramark (NYSE:ARMK) by 86.8% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 242,145 shares of the company’s stock after buying an additional 112,498 shares during the quarter. AQR Capital Management LLC owned 0.09% of Aramark worth $9,148,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Endurance Wealth Management Inc. raised its position in shares of Aramark by 11.0% during the 1st quarter. Endurance Wealth Management Inc. now owns 3,025 shares of the company’s stock valued at $114,000 after buying an additional 300 shares in the last quarter. Quantbot Technologies LP purchased a new stake in shares of Aramark during the 1st quarter valued at $191,000. The Manufacturers Life Insurance Company purchased a new stake in shares of Aramark during the 4th quarter valued at $200,000. Edmonds Duncan Registered Investment Advisors LLC purchased a new position in Aramark in the 4th quarter worth $201,000. Finally, Allstate Corp purchased a new position in Aramark in the 4th quarter worth $211,000. Hedge funds and other institutional investors own 99.61% of the company’s stock.

A number of brokerages recently commented on ARMK. Berenberg Bank upgraded shares of Aramark to a “hold” rating and set a $36.00 target price on the stock in a research report on Thursday, June 3rd. Zacks Investment Research cut shares of Aramark from a “buy” rating to a “hold” rating in a research report on Wednesday. Finally, Morgan Stanley lifted their target price on shares of Aramark from $34.00 to $37.00 and gave the stock an “equal weight” rating in a research report on Tuesday, April 13th. Eight investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $34.27.

Shares of ARMK opened at $34.80 on Thursday. The company’s 50-day moving average is $36.75. The company has a debt-to-equity ratio of 3.09, a quick ratio of 1.29 and a current ratio of 1.46. Aramark has a 1-year low of $20.31 and a 1-year high of $43.12.

Aramark (NYSE:ARMK) last announced its earnings results on Monday, May 10th. The company reported ($0.24) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.34) by $0.10. The firm had revenue of $2.82 billion for the quarter, compared to analyst estimates of $2.75 billion. Aramark had a negative net margin of 5.42% and a negative return on equity of 14.89%. The company’s revenue for the quarter was down 24.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.25 EPS. Research analysts expect that Aramark will post -0.27 EPS for the current year.

The business also recently announced a quarterly dividend, which was paid on Wednesday, June 9th. Stockholders of record on Wednesday, May 26th were paid a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a dividend yield of 1.26%. The ex-dividend date of this dividend was Tuesday, May 25th. Aramark’s payout ratio is -258.82%.

Aramark Profile

Aramark provides food, facilities, and uniform services to education, healthcare, business and industry, sports, leisure, and corrections clients in the United States and internationally. It operates through 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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