Sone Capital Management LLC Purchases New Position in Aramark (NYSE:ARMK)

Sone Capital Management LLC acquired a new position in Aramark (NYSE:ARMK - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 22,465 shares of the company's stock, valued at approximately $838,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Bessemer Group Inc. raised its stake in shares of Aramark by 93.0% in the fourth quarter. Bessemer Group Inc. now owns 770 shares of the company's stock worth $29,000 after purchasing an additional 371 shares during the last quarter. Jones Financial Companies Lllp boosted its holdings in shares of Aramark by 45.7% during the 4th quarter. Jones Financial Companies Lllp now owns 988 shares of the company's stock valued at $37,000 after acquiring an additional 310 shares during the last quarter. UMB Bank n.a. grew its stake in shares of Aramark by 75.2% in the fourth quarter. UMB Bank n.a. now owns 1,354 shares of the company's stock worth $51,000 after acquiring an additional 581 shares during the period. Global Retirement Partners LLC raised its holdings in shares of Aramark by 167.2% during the fourth quarter. Global Retirement Partners LLC now owns 1,424 shares of the company's stock valued at $53,000 after purchasing an additional 891 shares during the last quarter. Finally, Lazard Asset Management LLC purchased a new stake in Aramark in the fourth quarter worth approximately $72,000.

Aramark Price Performance

Shares of NYSE ARMK traded down $0.04 during midday trading on Thursday, reaching $38.91. The stock had a trading volume of 1,281,604 shares, compared to its average volume of 2,037,205. The company has a market capitalization of $10.20 billion, a price-to-earnings ratio of 30.63 and a beta of 1.20. Aramark has a 12-month low of $29.92 and a 12-month high of $42.49. The stock has a 50-day moving average of $34.70 and a 200-day moving average of $36.97. The company has a debt-to-equity ratio of 1.61, a quick ratio of 0.84 and a current ratio of 0.94.

Aramark (NYSE:ARMK - Get Free Report) last issued its quarterly 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 return on equity of 14.72% and a net margin of 1.94%. The business had revenue of $4.33 billion during the quarter, compared to analyst estimates of $4.35 billion. During the same quarter in the prior year, the business posted $0.30 EPS. Aramark's revenue for the quarter was up 1.9% compared to the same quarter last year. As a group, research analysts anticipate that Aramark will post 1.92 EPS for the current fiscal year.

Aramark Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 28th. Investors of record on Wednesday, May 14th will be issued a $0.105 dividend. This represents a $0.42 dividend on an annualized basis and a yield of 1.08%. Aramark's dividend payout ratio is presently 32.31%.

Wall Street Analyst Weigh In

ARMK has been the subject of a number of research reports. 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 note on Wednesday, May 7th. Citigroup started coverage on Aramark in a report on Monday, February 24th. They issued a "buy" rating and a $48.00 price objective for the company. Royal Bank of Canada reissued an "outperform" rating and issued a $47.00 target price on shares of Aramark in a research report on Wednesday, May 14th. Finally, Morgan Stanley boosted their price target on Aramark from $40.00 to $42.00 and gave the company an "equal weight" rating in a research note on Wednesday, May 7th. Three equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat, Aramark has a consensus rating of "Moderate Buy" and an average target price of $43.33.

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.