First Manhattan Co Lowers stake in Aramark (ARMK)

Aramark (ARMK) : First Manhattan Co reduced its stake in Aramark by 2.53% during the most recent quarter end. The investment management company now holds a total of 6,435,662 shares of Aramark which is valued at $226,213,519 after selling 167,151 shares in Aramark , the firm said in a disclosure report filed with the SEC on Jul 14, 2016.Aramark makes up approximately 1.36% of First Manhattan Co’s portfolio.

Other Hedge Funds, Including , Creative Planning reduced its stake in ARMK by selling 50 shares or 9.8% in the most recent quarter. The Hedge Fund company now holds 460 shares of ARMK which is valued at $16,261.Hollencrest Securities reduced its stake in ARMK by selling 3,263 shares or 26.22% in the most recent quarter. The Hedge Fund company now holds 9,182 shares of ARMK which is valued at $317,054. Aramark makes up approx 0.05% of Hollencrest Securities’s portfolio.Chevy Chase Trust Holdings boosted its stake in ARMK in the latest quarter, The investment management firm added 56,537 additional shares and now holds a total of 490,704 shares of Aramark which is valued at $16,944,009. Aramark makes up approx 0.09% of Chevy Chase Trust Holdings’s portfolio.Bnp Paribas Arbitrage Sa reduced its stake in ARMK by selling 1,321 shares or 16.04% in the most recent quarter. The Hedge Fund company now holds 6,917 shares of ARMK which is valued at $238,844.Curian Capital reduced its stake in ARMK by selling 70,049 shares or 74.19% in the most recent quarter. The Hedge Fund company now holds 24,372 shares of ARMK which is valued at $841,565. Aramark makes up approx 0.06% of Curian Capital’s portfolio.

Aramark closed down -0.34 points or -0.96% at $35.15 with 9,35,403 shares getting traded on Monday. Post opening the session at $35.43, the shares hit an intraday low of $35.13 and an intraday high of $35.46 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.

On the company’s financial health, Aramark reported $0.39 EPS for the quarter, based on the information available during the earnings call on May 11, 2016. Analyst had a consensus estimate of $0.39. The company had revenue of $3574.80 million for the quarter, compared to analysts expectations of $3646.85 million. The company’s revenue was down -.6 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.37 EPS.

Many Wall Street Analysts have commented on Aramark. Aramark was Initiated by Berenberg to “Hold” on Apr 26, 2016. Nomura Initiated Aramark on Apr 20, 2016 to “Buy”, Price Target of the shares are set at $39.

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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