Kensico Capital Management Corp Lowers stake in Aramark (ARMK)

Aramark (ARMK) : Kensico Capital Management Corp reduced its stake in Aramark by 0.41% during the most recent quarter end. The investment management company now holds a total of 8,558,300 shares of Aramark which is valued at $312,121,201 after selling 35,600 shares in Aramark , the firm said in a disclosure report filed with the SEC on Nov 14, 2016.Aramark makes up approximately 5.74% of Kensico Capital Management Corp’s portfolio.

Other Hedge Funds, Including , Vanguard Group Inc boosted its stake in ARMK in the latest quarter, The investment management firm added 952,758 additional shares and now holds a total of 17,956,621 shares of Aramark which is valued at $654,877,968. Aramark makes up approx 0.04% of Vanguard Group Inc’s portfolio.Credit Agricole S A boosted its stake in ARMK in the latest quarter, The investment management firm added 232,147 additional shares and now holds a total of 390,078 shares of Aramark which is valued at $14,179,335. Aramark makes up approx 0.05% of Credit Agricole S A’s portfolio.Alliancebernstein reduced its stake in ARMK by selling 1,350 shares or 0.79% in the most recent quarter. The Hedge Fund company now holds 169,451 shares of ARMK which is valued at $6,159,544. Aramark makes up approx 0.01% of Alliancebernstein’s portfolio.Jennison Associates reduced its stake in ARMK by selling 23,277 shares or 0.9% in the most recent quarter. The Hedge Fund company now holds 2,571,235 shares of ARMK which is valued at $94,030,064. Aramark makes up approx 0.11% of Jennison Associates’s portfolio.Endurance Wealth Management boosted its stake in ARMK in the latest quarter, The investment management firm added 2,025 additional shares and now holds a total of 60,260 shares of Aramark which is valued at $2,243,480. Aramark makes up approx 0.41% of Endurance Wealth Management’s portfolio.

Aramark closed down -0.03 points or -0.09% at $34.08 with 35,85,031 shares getting traded on Monday. Post opening the session at $34.4, the shares hit an intraday low of $33.98 and an intraday high of $34.49 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.

On the company’s financial health, Aramark reported $0.49 EPS for the quarter, based on the information available during the earnings call on Nov 15, 2016. Analyst had a consensus estimate of $0.49. The company had revenue of $3543.80 million for the quarter, compared to analysts expectations of $3668.99 million. During the same quarter in the previous year, the company posted $0.44 EPS.

Investors should note that on Nov 15, 2016, Aramark announced a cash dividend of $0.1030. The company’s management has announced Nov 23, 2016 as the ex-dividend date and fixed the record date on Nov 28, 2016. The payable date has been fixed on Dec 8, 2016.

Many Wall Street Analysts have commented on Aramark. Shares were Reiterated by RBC Capital Mkts on Nov 16, 2016 to “Top Pick” and Lowered the Price Target to $ 41 from a previous price target of $42 .Macquarie Initiated Aramark on Aug 26, 2016 to “Outperform”, Price Target of the shares are set at $44.

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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