Tower Research Capital LLC TRC Boosts Stake in Aramark (NYSE:ARMK)

Tower Research Capital LLC TRC increased its position in shares of Aramark (NYSE:ARMK – Get Rating) by 105.8% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 9,747 shares of the company’s stock after purchasing an additional 5,010 shares during the quarter. Tower Research Capital LLC TRC’s holdings in Aramark were worth $304,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. PNC Financial Services Group Inc. raised its holdings in shares of Aramark by 35.9% in the first quarter. PNC Financial Services Group Inc. now owns 1,693 shares of the company’s stock worth $64,000 after acquiring an additional 447 shares during the last quarter. Neo Ivy Capital Management acquired a new position in shares of Aramark in the second quarter worth $156,000. MetLife Investment Management LLC acquired a new position in shares of Aramark in the first quarter worth $174,000. Empirical Financial Services LLC d.b.a. Empirical Wealth Management acquired a new position in shares of Aramark in the first quarter worth $200,000. Finally, NuWave Investment Management LLC acquired a new position in shares of Aramark in the third quarter worth $203,000.

Aramark Price Performance

Shares of NYSE ARMK opened at $37.13 on Thursday. Aramark has a 1-year low of $28.74 and a 1-year high of $45.72. The business has a 50-day moving average of $41.72 and a 200-day moving average of $38.76. The company has a debt-to-equity ratio of 2.56, a current ratio of 1.28 and a quick ratio of 1.07. The company has a market capitalization of $9.67 billion, a price-to-earnings ratio of 42.68, a PEG ratio of 0.82 and a beta of 1.65.

Aramark (NYSE:ARMK – Get Rating) last issued its earnings results on Tuesday, February 7th. The company reported $0.41 earnings per share for the quarter, missing the consensus estimate of $0.42 by ($0.01). Aramark had a return on equity of 11.94% and a net margin of 1.33%. The company had revenue of $4.60 billion during the quarter, compared to analysts’ expectations of $4.52 billion. On average, equities analysts anticipate that Aramark will post 1.8 EPS for the current fiscal year.

Aramark Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, March 8th. Investors of record on Wednesday, February 22nd will be paid a $0.11 dividend. This represents a $0.44 annualized dividend and a dividend yield of 1.19%. The ex-dividend date is Tuesday, February 21st. Aramark’s dividend payout ratio (DPR) is 50.57%.

Insider Buying and Selling

In related news, EVP Lynn Mckee sold 30,817 shares of the business’s stock in a transaction dated Tuesday, December 13th. The stock was sold at an average price of $42.46, for a total value of $1,308,489.82. Following the transaction, the executive vice president now owns 281,714 shares in the company, valued at $11,961,576.44. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other Aramark news, SVP Lauren A. Harrington sold 9,452 shares of the stock in a transaction that occurred on Tuesday, December 13th. The stock was sold at an average price of $42.48, for a total transaction of $401,520.96. Following the transaction, the senior vice president now owns 64,106 shares of the company’s stock, valued at approximately $2,723,222.88. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Lynn Mckee sold 30,817 shares of the stock in a transaction that occurred on Tuesday, December 13th. The stock was sold at an average price of $42.46, for a total value of $1,308,489.82. Following the transaction, the executive vice president now directly owns 281,714 shares in the company, valued at approximately $11,961,576.44. The disclosure for this sale can be found here. Insiders own 11.02% of the company’s stock.

Analyst Upgrades and Downgrades

ARMK has been the subject of a number of analyst reports. TheStreet raised Aramark from a “c” rating to a “b-” rating in a report on Tuesday, November 15th. Deutsche Bank Aktiengesellschaft dropped their target price on Aramark from $46.00 to $44.00 in a research note on Wednesday, February 8th. JPMorgan Chase & Co. dropped their target price on Aramark from $45.00 to $44.00 and set an “overweight” rating for the company in a research note on Wednesday, February 8th. Citigroup upped their target price on Aramark from $39.00 to $45.00 and gave the company a “neutral” rating in a research note on Friday, January 27th. Finally, Morgan Stanley lowered their price target on Aramark from $44.00 to $43.00 and set an “equal weight” rating for the company in a research report on Wednesday, February 8th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $42.63.

Aramark Profile

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Aramark engages in the provision of food, facilities, and uniform services. It operates through the following segments: Food and Support Services United States (FSS United States), Food and Support Services International (FSS International), and Uniform and Career Apparel (Uniform). The FSS United States segment offers food, hospitality and facility services for school districts, colleges and universities, healthcare facilities, businesses, sports, entertainment and recreational venues, conference and convention centers, national and state parks, and correctional institutions.