Shikiar Asset Management Inc. Sells 43,150 Shares of Aramark (NYSE:ARMK)

Shikiar Asset Management Inc. cut its position in shares of Aramark (NYSE:ARMK - Free Report) by 29.1% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 105,130 shares of the company's stock after selling 43,150 shares during the quarter. Aramark accounts for about 1.1% of Shikiar Asset Management Inc.'s portfolio, making the stock its 28th biggest holding. Shikiar Asset Management Inc.'s holdings in Aramark were worth $3,629,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of the company. Massachusetts Financial Services Co. MA boosted its holdings in Aramark by 63.2% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 13,593,734 shares of the company's stock worth $507,182,000 after purchasing an additional 5,263,817 shares during the last quarter. Norges Bank bought a new stake in Aramark during the 4th quarter worth about $88,949,000. Franklin Resources Inc. boosted its stake in shares of Aramark by 29.5% during the 4th quarter. Franklin Resources Inc. now owns 8,511,152 shares of the company's stock worth $317,551,000 after buying an additional 1,940,214 shares during the last quarter. PointState Capital LP grew its holdings in shares of Aramark by 135.4% in the 4th quarter. PointState Capital LP now owns 2,690,617 shares of the company's stock valued at $100,387,000 after acquiring an additional 1,547,792 shares in the last quarter. Finally, Fiduciary Management Inc. WI increased its position in shares of Aramark by 8.1% in the fourth quarter. Fiduciary Management Inc. WI now owns 11,454,740 shares of the company's stock valued at $427,376,000 after acquiring an additional 860,179 shares during the last quarter.

Aramark Stock Performance

Shares of ARMK stock traded up $0.68 on Thursday, hitting $40.12. The company's stock had a trading volume of 1,802,017 shares, compared to its average volume of 1,989,454. Aramark has a fifty-two week low of $29.92 and a fifty-two week high of $42.49. The company has a market capitalization of $10.51 billion, a PE ratio of 30.86 and a beta of 1.28. The stock's 50 day moving average is $37.09 and its 200-day moving average is $37.03. The company has a debt-to-equity ratio of 2.02, a quick ratio of 1.08 and a current ratio of 1.21.

Aramark (NYSE:ARMK - Get Free Report) last announced its earnings results on Tuesday, May 6th. The company reported $0.34 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.33 by $0.01. Aramark had a net margin of 1.97% and a return on equity of 15.07%. The firm had revenue of $4.33 billion for the quarter, compared to analyst estimates of $4.35 billion. During the same quarter in the prior year, the business posted $0.30 EPS. The business's revenue was up 1.9% compared to the same quarter last year. Equities research analysts expect that Aramark will post 1.92 earnings per share for the current fiscal year.

Aramark Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, May 28th. Investors of record on Wednesday, May 14th were given a $0.105 dividend. This represents a $0.42 dividend on an annualized basis and a dividend yield of 1.05%. Aramark's payout ratio is currently 32.31%.

Analyst Ratings Changes

Several research analysts recently commented on the company. Royal Bank Of Canada reissued an "outperform" rating and set a $47.00 price target on shares of Aramark in a research report on Wednesday, May 14th. Morgan Stanley increased their price objective on Aramark from $40.00 to $42.00 and gave the company an "equal weight" rating in a 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 target price on the stock. Finally, UBS Group increased their price target on shares of Aramark from $40.00 to $44.00 and gave the company a "buy" rating in a research note on Wednesday, May 7th. Three equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $43.73.

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.