Ionic Capital Management Lowers stake in Aramark (ARMK)

Aramark (ARMK) : Ionic Capital Management reduced its stake in Aramark by 14.88% during the most recent quarter end. The investment management company now holds a total of 372,908 shares of Aramark which is valued at $14,032,528 after selling 65,200 shares in Aramark , the firm said in a disclosure report filed with the SEC on Aug 15, 2016.Aramark makes up approximately 2.41% of Ionic Capital Management’s portfolio.

Other Hedge Funds, Including , Manufacturers Life Insurance Company The boosted its stake in ARMK in the latest quarter, The investment management firm added 164 additional shares and now holds a total of 8,226 shares of Aramark which is valued at $309,544.Teachers Advisors Inc reduced its stake in ARMK by selling 139,263 shares or 4.8% in the most recent quarter. The Hedge Fund company now holds 2,763,671 shares of ARMK which is valued at $103,996,940. Aramark makes up approx 0.17% of Teachers Advisors Inc’s portfolio.Tower Research Capital (trc) boosted its stake in ARMK in the latest quarter, The investment management firm added 162 additional shares and now holds a total of 203 shares of Aramark which is valued at $7,639.Airain Ltd boosted its stake in ARMK in the latest quarter, The investment management firm added 7,041 additional shares and now holds a total of 24,389 shares of Aramark which is valued at $871,419. Aramark makes up approx 0.05% of Airain Ltd’s portfolio.Oregon Public Employees Retirement Fund boosted its stake in ARMK in the latest quarter, The investment management firm added 6,983 additional shares and now holds a total of 16,205 shares of Aramark which is valued at $575,602. Aramark makes up approx 0.01% of Oregon Public Employees Retirement Fund’s portfolio.

Aramark closed down -0.07 points or -0.18% at $37.86 with 10,33,877 shares getting traded on Thursday. Post opening the session at $37.97, the shares hit an intraday low of $37.64 and an intraday high of $38.23 and the price fluctuated in this range throughout the day.Shares ended Thursday session in Red.

On the company’s financial health, Aramark reported $0.34 EPS for the quarter, beating the analyst consensus estimate by $ 0.02 according to the earnings call on Aug 10, 2016. Analyst had a consensus of $0.32. The company had revenue of $3590.00 million for the quarter, compared to analysts expectations of $3576.94 million. The company’s revenue was up 3.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.29 EPS.

Many Wall Street Analysts have commented on Aramark. Macquarie Initiated Aramark on Aug 26, 2016 to “Outperform”, Price Target of the shares are set at $44.Company shares were Reiterated by RBC Capital Mkts on Aug 11, 2016 to “Top Pick”, Firm has raised the Price Target to $ 42 from a previous price target of $40 .

Aramark formerly ARAMARK Holdings Corporation is a global provider of food facilities and uniform services to education healthcare business and industry and sports leisure and corrections clients. The Company’s core market is North America. It serves students patients employees sports fans and guests worldwide. It serves over 500 million meals annually to approximately five million students at colleges universities and K-12 schools services over 2000 healthcare facilities caters to approximately 100 million sports fans and operates in 22 countries in North America Europe Asia and South America as of September 28 2012. It operates in three reportable segments: food and Support Services North America or FSS North America Food and Support Services International or FSS International and Uniform and Career Apparel or Uniform.

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