Sumitomo Mitsui Trust Holdings Inc. Buys 2,931 Shares of Aramark (NYSE:ARMK)

Sumitomo Mitsui Trust Holdings Inc. boosted its stake in shares of Aramark (NYSE:ARMK) by 0.3% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 913,132 shares of the company’s stock after buying an additional 2,931 shares during the period. Sumitomo Mitsui Trust Holdings Inc.’s holdings in Aramark were worth $32,928,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the stock. Sumitomo Life Insurance Co. boosted its stake in shares of Aramark by 17.7% in the 2nd quarter. Sumitomo Life Insurance Co. now owns 14,271 shares of the company’s stock worth $515,000 after buying an additional 2,145 shares during the last quarter. Putnam FL Investment Management Co. boosted its stake in shares of Aramark by 1.4% in the 2nd quarter. Putnam FL Investment Management Co. now owns 20,830 shares of the company’s stock worth $751,000 after buying an additional 282 shares during the last quarter. Wetherby Asset Management Inc. purchased a new position in shares of Aramark in the 2nd quarter worth $206,000. Strs Ohio boosted its stake in shares of Aramark by 281.1% in the 2nd quarter. Strs Ohio now owns 11,514 shares of the company’s stock worth $415,000 after buying an additional 8,493 shares during the last quarter. Finally, Squar Milner Financial Services LLC boosted its stake in shares of Aramark by 8.4% in the 2nd quarter. Squar Milner Financial Services LLC now owns 3,712 shares of the company’s stock worth $134,000 after buying an additional 288 shares during the last quarter. 97.47% of the stock is owned by institutional investors.

Shares of Aramark stock opened at $37.37 on Wednesday. Aramark has a one year low of $25.49 and a one year high of $43.70. The business has a fifty day moving average of $36.23. The company has a market cap of $9.41 billion, a PE ratio of 18.78, a P/E/G ratio of 2.18 and a beta of 0.91. The company has a current ratio of 1.22, a quick ratio of 1.04 and a debt-to-equity ratio of 2.19.

Aramark (NYSE:ARMK) last announced its earnings results on Tuesday, August 6th. The company reported $0.47 EPS for the quarter, topping the Zacks’ consensus estimate of $0.39 by $0.08. Aramark had a return on equity of 17.39% and a net margin of 3.33%. The company had revenue of $4.01 billion for the quarter, compared to analysts’ expectations of $3.99 billion. During the same period last year, the firm earned $0.48 EPS. Aramark’s revenue for the quarter was up 1.0% compared to the same quarter last year. As a group, equities research analysts anticipate that Aramark will post 2.03 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 29th. Shareholders of record on Thursday, August 15th will be issued a dividend of $0.11 per share. The ex-dividend date of this dividend is Wednesday, August 14th. This represents a $0.44 dividend on an annualized basis and a yield of 1.18%. Aramark’s dividend payout ratio is presently 22.11%.

A number of equities analysts have recently issued reports on the company. Morgan Stanley set a $34.00 price target on Aramark and gave the stock a “hold” rating in a research note on Wednesday, May 8th. Robert W. Baird cut Aramark from an “outperform” rating to a “neutral” rating and raised their target price for the stock from $38.00 to $40.00 in a report on Wednesday, August 7th. Nomura reaffirmed a “hold” rating and issued a $28.00 target price on shares of Aramark in a report on Thursday, August 8th. Stifel Nicolaus reaffirmed a “hold” rating and issued a $36.00 target price on shares of Aramark in a report on Wednesday, August 7th. Finally, ValuEngine raised Aramark from a “sell” rating to a “hold” rating in a report on Thursday, May 30th. Eight research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Aramark currently has an average rating of “Hold” and an average price target of $39.42.

Aramark Company Profile

Aramark provides food, facilities management, and uniform services to education, healthcare, business and industry, sports, leisure, and corrections clients in North America and internationally. It operates in three segments: Food and Support Services United States, Food and Support Services International, and Uniform and Career Apparel.

See Also: Net Asset Value

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Institutional Ownership by Quarter for Aramark (NYSE:ARMK)

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