California Public Employees Retirement System Boosts Stock Holdings in Aramark (NYSE:ARMK)

California Public Employees Retirement System grew its position in shares of Aramark (NYSE:ARMK) by 28.8% during the third quarter, Holdings Channel.com reports. The fund owned 462,436 shares of the company’s stock after purchasing an additional 103,504 shares during the quarter. California Public Employees Retirement System’s holdings in Aramark were worth $20,153,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. SPX Equities Gestao de Recursos Ltda raised its stake in shares of Aramark by 5.1% during the 2nd quarter. SPX Equities Gestao de Recursos Ltda now owns 1,373,422 shares of the company’s stock worth $49,526,000 after purchasing an additional 66,900 shares during the period. Xact Kapitalforvaltning AB raised its stake in shares of Aramark by 12.2% during the 2nd quarter. Xact Kapitalforvaltning AB now owns 47,235 shares of the company’s stock worth $1,703,000 after purchasing an additional 5,124 shares during the period. Raymond James Trust N.A. raised its stake in shares of Aramark by 26.1% during the 2nd quarter. Raymond James Trust N.A. now owns 11,143 shares of the company’s stock worth $402,000 after purchasing an additional 2,305 shares during the period. IFM Investors Pty Ltd raised its stake in shares of Aramark by 36.2% during the 2nd quarter. IFM Investors Pty Ltd now owns 20,379 shares of the company’s stock worth $735,000 after purchasing an additional 5,412 shares during the period. Finally, Clear Street Markets LLC bought a new stake in shares of Aramark during the 2nd quarter worth $433,000. 98.18% of the stock is currently owned by hedge funds and other institutional investors.

In related news, insider Keith Bethel sold 7,500 shares of the business’s stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $37.40, for a total value of $280,500.00. Following the sale, the insider now directly owns 43,692 shares in the company, valued at approximately $1,634,080.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 3.30% of the company’s stock.

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A number of equities research analysts have recently commented on the company. Stifel Nicolaus upgraded Aramark from a “hold” rating to a “buy” rating and lifted their target price for the stock from $36.00 to $49.00 in a research note on Monday, August 19th. Nomura upgraded Aramark from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $28.00 to $50.00 in a research note on Monday, August 19th. Morgan Stanley lifted their target price on Aramark from $40.00 to $43.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 10th. Oppenheimer assumed coverage on Aramark in a research note on Thursday, August 22nd. They set an “outperform” rating and a $50.00 target price on the stock. Finally, Robert W. Baird lifted their target price on Aramark from $40.00 to $44.00 and gave the stock a “neutral” rating in a research note on Monday, August 19th. Six analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $45.27.

Shares of Aramark stock opened at $42.99 on Friday. Aramark has a 52-week low of $25.49 and a 52-week high of $45.04. The stock’s 50-day simple moving average is $43.48 and its 200 day simple moving average is $37.73. The stock has a market capitalization of $10.75 billion, a P/E ratio of 21.60, a P/E/G ratio of 2.26 and a beta of 0.89. The company has a debt-to-equity ratio of 2.19, a quick ratio of 1.04 and a current ratio of 1.22.

Aramark (NYSE:ARMK) last announced its quarterly earnings data on Tuesday, August 6th. The company reported $0.47 earnings per share (EPS) for the quarter, beating 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 business had revenue of $4.01 billion for the quarter, compared to analysts’ expectations of $3.99 billion. During the same period in the previous year, the business posted $0.48 EPS. The firm’s quarterly revenue was up 1.0% compared to the same quarter last year. Equities research analysts forecast that Aramark will post 2.04 EPS for the current fiscal year.

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.

Read More: Why investors pay attention to retained earnings

Want to see what other hedge funds are holding ARMK? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Aramark (NYSE:ARMK).

Institutional Ownership by Quarter for Aramark (NYSE:ARMK)

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