Shikiar Asset Management Inc. Reduces Position in Aramark (NYSE:ARMK)

Shikiar Asset Management Inc. lowered its position in Aramark (NYSE:ARMK - Free Report) by 29.1% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 105,130 shares of the company's stock after selling 43,150 shares during the period. Aramark comprises about 1.1% of Shikiar Asset Management Inc.'s portfolio, making the stock its 28th largest position. Shikiar Asset Management Inc.'s holdings in Aramark were worth $3,629,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of ARMK. Bessemer Group Inc. increased its holdings in shares of Aramark by 93.0% in the 4th quarter. Bessemer Group Inc. now owns 770 shares of the company's stock worth $29,000 after buying an additional 371 shares during the last quarter. Jones Financial Companies Lllp lifted its stake in Aramark by 45.7% during the fourth quarter. Jones Financial Companies Lllp now owns 988 shares of the company's stock worth $37,000 after purchasing an additional 310 shares during the last quarter. Global Retirement Partners LLC boosted its holdings in shares of Aramark by 167.2% in the 4th quarter. Global Retirement Partners LLC now owns 1,424 shares of the company's stock worth $53,000 after purchasing an additional 891 shares in the last quarter. Lazard Asset Management LLC purchased a new position in shares of Aramark during the 4th quarter valued at about $72,000. Finally, Wealthfront Advisers LLC bought a new stake in Aramark in the 4th quarter worth approximately $83,000.

Aramark Stock Up 2.0%

Shares of ARMK stock traded up $0.78 during trading hours on Wednesday, reaching $40.22. 665,000 shares of the company's stock were exchanged, compared to its average volume of 1,990,677. Aramark has a 1 year low of $29.92 and a 1 year high of $42.49. The company has a current ratio of 1.21, a quick ratio of 1.08 and a debt-to-equity ratio of 2.02. The stock has a market cap of $10.54 billion, a PE ratio of 30.94 and a beta of 1.28. The stock's fifty day moving average price is $36.97 and its two-hundred day moving average price is $37.01.

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

Aramark Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, May 28th. Investors of record on Wednesday, May 14th were paid a dividend of $0.105 per share. This represents a $0.42 annualized dividend and a yield of 1.04%. Aramark's payout ratio is currently 32.31%.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. UBS Group increased their price objective on Aramark from $40.00 to $44.00 and gave the stock a "buy" rating in a report on Wednesday, May 7th. Morgan Stanley upped their price target on Aramark from $40.00 to $42.00 and gave the stock an "equal weight" rating in a research note on Wednesday, May 7th. Citigroup assumed coverage on shares of Aramark in a report on Monday, February 24th. They set a "buy" rating and a $48.00 price target on the stock. Finally, Royal Bank Of Canada reaffirmed an "outperform" rating and set a $47.00 price target on shares of Aramark in a report on Wednesday, May 14th. Three research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $43.73.

Aramark 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.