Brevan Howard Capital Management LP Sells 15,550 Shares of Aramark (NYSE:ARMK)

Brevan Howard Capital Management LP cut its holdings in shares of Aramark (NYSE:ARMK - Free Report) by 41.9% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 21,535 shares of the company's stock after selling 15,550 shares during the period. Brevan Howard Capital Management LP's holdings in Aramark were worth $803,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the business. Balyasny Asset Management L.P. lifted its position in shares of Aramark by 83.8% in the 4th quarter. Balyasny Asset Management L.P. now owns 862,842 shares of the company's stock worth $32,193,000 after purchasing an additional 393,381 shares during the period. Bank of America Corp DE lifted its position in shares of Aramark by 4.5% in the 4th quarter. Bank of America Corp DE now owns 2,457,094 shares of the company's stock worth $91,674,000 after purchasing an additional 105,219 shares during the period. Algert Global LLC acquired a new position in shares of Aramark during the 4th quarter valued at $2,889,000. Alyeska Investment Group L.P. lifted its position in shares of Aramark by 42.0% during the 4th quarter. Alyeska Investment Group L.P. now owns 262,330 shares of the company's stock valued at $9,788,000 after acquiring an additional 77,600 shares during the period. Finally, Ancora Advisors LLC lifted its position in shares of Aramark by 1.5% during the 4th quarter. Ancora Advisors LLC now owns 354,890 shares of the company's stock valued at $13,241,000 after acquiring an additional 5,250 shares during the period.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the stock. UBS Group boosted their target price on shares of Aramark from $40.00 to $44.00 and gave the company a "buy" rating in a research report on Wednesday, May 7th. Citigroup started coverage on shares of Aramark in a report on Monday, February 24th. They set a "buy" rating and a $48.00 price objective on the stock. Royal Bank of Canada restated an "outperform" rating and set a $47.00 price objective on shares of Aramark in a report on Wednesday. Finally, Morgan Stanley upped their price objective on shares of Aramark from $40.00 to $42.00 and gave the stock an "equal weight" rating in a report on Wednesday, May 7th. Three research analysts have rated the stock with a hold rating and ten have given a buy rating to the company's stock. According to data from MarketBeat, Aramark presently has an average rating of "Moderate Buy" and a consensus price target of $43.33.

Aramark Stock Down 0.4%

Shares of ARMK stock traded down $0.16 on Wednesday, hitting $39.06. The stock had a trading volume of 439,805 shares, compared to its average volume of 2,055,484. The business has a 50 day moving average of $34.15 and a 200 day moving average of $36.91. The stock has a market cap of $10.24 billion, a price-to-earnings ratio of 30.76 and a beta of 1.20. The company has a debt-to-equity ratio of 1.61, a current ratio of 0.94 and a quick ratio of 0.84. Aramark has a 12-month low of $29.92 and a 12-month high of $42.49.

Aramark (NYSE:ARMK - Get Free Report) last announced its earnings results on Tuesday, May 6th. The company reported $0.34 EPS for the quarter, beating the consensus estimate of $0.33 by $0.01. The company had revenue of $4.33 billion during the quarter, compared to the consensus estimate of $4.35 billion. Aramark had a net margin of 1.94% and a return on equity of 14.72%. The firm's revenue for the quarter was up 1.9% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.30 earnings per share. As a group, analysts expect that Aramark will post 1.92 EPS for the current year.

Aramark Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 28th. Investors of record on Wednesday, May 14th will be given a dividend of $0.105 per share. This represents a $0.42 annualized dividend and a yield of 1.08%. Aramark's payout ratio is currently 32.31%.

Aramark Company Profile

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.