Aramark (NYSE:ARMK) was the recipient of a large drop in short interest in the month of February. As of February 26th, there was short interest totalling 7,820,000 shares, a drop of 26.9% from the February 11th total of 10,700,000 shares. Based on an average daily volume of 1,910,000 shares, the days-to-cover ratio is currently 4.1 days.
In other news, EVP Lynn Mckee sold 94,518 shares of Aramark stock in a transaction that occurred on Tuesday, March 9th. The shares were sold at an average price of $42.00, for a total value of $3,969,756.00. Following the sale, the executive vice president now directly owns 301,579 shares in the company, valued at $12,666,318. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Lauren A. Harrington sold 10,000 shares of the business’s stock in a transaction on Thursday, March 11th. The stock was sold at an average price of $41.99, for a total transaction of $419,900.00. Following the completion of the sale, the senior vice president now directly owns 70,171 shares in the company, valued at approximately $2,946,480.29. The disclosure for this sale can be found here. Company insiders own 10.30% of the company’s stock.
Several institutional investors and hedge funds have recently bought and sold shares of the company. CI Investments Inc. bought a new position in Aramark during the third quarter worth about $49,000. Endurance Wealth Management Inc. increased its holdings in shares of Aramark by 98.2% during the fourth quarter. Endurance Wealth Management Inc. now owns 2,725 shares of the company’s stock worth $105,000 after purchasing an additional 1,350 shares during the period. Ossiam acquired a new stake in shares of Aramark in the fourth quarter valued at approximately $190,000. The Manufacturers Life Insurance Company acquired a new stake in Aramark during the fourth quarter worth approximately $200,000. Finally, Financial Engines Advisors L.L.C. bought a new position in Aramark during the 4th quarter worth $209,000. 93.50% of the stock is owned by institutional investors.
ARMK traded down $0.64 on Tuesday, reaching $41.59. The company had a trading volume of 9,998,343 shares, compared to its average volume of 2,141,853. The stock has a market cap of $10.56 billion, a P/E ratio of -22.73 and a beta of 1.88. The company has a debt-to-equity ratio of 3.35, a quick ratio of 1.81 and a current ratio of 1.99. Aramark has a fifty-two week low of $9.65 and a fifty-two week high of $43.12. The company’s fifty day moving average is $37.91 and its 200 day moving average is $33.95.
Aramark (NYSE:ARMK) last issued its quarterly earnings data on Monday, February 8th. The company reported ($0.31) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.41) by $0.10. The company had revenue of $2.74 billion during the quarter, compared to analysts’ expectations of $2.72 billion. Aramark had a negative return on equity of 1.48% and a negative net margin of 3.60%. The business’s revenue was down 35.5% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.62 earnings per share. On average, sell-side analysts expect that Aramark will post -0.28 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 3rd. Shareholders of record on Wednesday, February 17th were given a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a yield of 1.06%. The ex-dividend date of this dividend was Tuesday, February 16th. Aramark’s payout ratio is -258.82%.
A number of analysts recently issued reports on ARMK shares. Barclays lifted their target price on Aramark from $35.00 to $40.00 and gave the company an “equal weight” rating in a research report on Tuesday, December 8th. TheStreet upgraded Aramark from a “d+” rating to a “c-” rating in a research note on Wednesday, March 10th. Royal Bank of Canada increased their price objective on Aramark from $28.00 to $31.00 and gave the company a “sector perform” rating in a report on Wednesday, November 18th. Zacks Investment Research upgraded shares of Aramark from a “sell” rating to a “hold” rating in a report on Friday, February 12th. Finally, JPMorgan Chase & Co. reiterated a “buy” rating and issued a $40.00 price target on shares of Aramark in a research note on Sunday. Ten equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $32.08.
Aramark provides food, facilities, and uniform services to education, healthcare, business and industry, sports, leisure, and corrections clients in the United States and internationally. It operates through three segments: Food and Support Services United States, Food and Support Services International, and Uniform and Career Apparel.
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