Permian Investment Partners LP Trims Stock Position in Aramark (NYSE:ARMK)

Permian Investment Partners LP trimmed its position in shares of Aramark (NYSE:ARMK - Free Report) by 34.5% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,500,604 shares of the company's stock after selling 1,315,510 shares during the quarter. Aramark accounts for approximately 14.5% of Permian Investment Partners LP's investment portfolio, making the stock its 5th largest position. Permian Investment Partners LP owned 0.94% of Aramark worth $93,298,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Bessemer Group Inc. increased its stake in Aramark by 93.0% during the 4th quarter. Bessemer Group Inc. now owns 770 shares of the company's stock valued at $29,000 after purchasing an additional 371 shares in the last quarter. Jones Financial Companies Lllp lifted its holdings in Aramark by 45.7% in the fourth 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. raised its position in Aramark by 75.2% in the fourth quarter. UMB Bank n.a. now owns 1,354 shares of the company's stock valued at $51,000 after purchasing an additional 581 shares during the period. Global Retirement Partners LLC raised its stake in shares of Aramark by 167.2% in the fourth quarter. Global Retirement Partners LLC now owns 1,424 shares of the company's stock valued at $53,000 after acquiring an additional 891 shares in the last quarter. Finally, Wealthfront Advisers LLC acquired a new stake in Aramark in the fourth quarter valued at $83,000.

Wall Street Analysts Forecast Growth

ARMK has been the subject of a number of research reports. Royal Bank of Canada reiterated an "outperform" rating and issued a $47.00 price objective on shares of Aramark in a research note on Thursday, February 6th. Citigroup started coverage on shares of Aramark in a research note on Monday, February 24th. They issued a "buy" rating and a $48.00 price objective for the company. StockNews.com cut Aramark from a "buy" rating to a "hold" rating in a research report on Tuesday, January 7th. Finally, UBS Group reduced their target price on Aramark from $45.00 to $40.00 and set a "buy" rating on the stock in a research note on Friday, April 11th. Three equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company's stock. Based on data from MarketBeat, Aramark currently has a consensus rating of "Moderate Buy" and a consensus target price of $43.08.

Aramark Price Performance

Shares of Aramark stock traded up $3.31 during trading on Tuesday, hitting $37.51. 3,015,817 shares of the company's stock traded hands, compared to its average volume of 2,096,120. Aramark has a twelve month low of $29.82 and a twelve month high of $42.49. The firm's fifty day moving average price is $33.86 and its 200 day moving average price is $36.90. The company has a market cap of $9.94 billion, a PE ratio of 29.50 and a beta of 1.37. 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 (NYSE:ARMK - Get Free Report) last announced its quarterly earnings results on Tuesday, February 4th. The company reported $0.51 earnings per share for the quarter, topping analysts' consensus estimates of $0.48 by $0.03. Aramark had a net margin of 1.94% and a return on equity of 14.72%. The company had revenue of $4.55 billion for the quarter, compared to analysts' expectations of $4.61 billion. During the same period last year, the firm posted $0.41 earnings per share. The business's quarterly revenue was up 3.3% compared to the same quarter last year. Analysts forecast that Aramark will post 1.92 earnings per share for the current year.

Aramark Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 28th. Shareholders 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 1.12%. Aramark's payout ratio is 33.07%.

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.