|Bid||40.16 x 1000|
|Ask||0.00 x 800|
|Day's Range||39.92 - 41.82|
|52 Week Range||25.49 - 43.70|
|Beta (3Y Monthly)||1.21|
|PE Ratio (TTM)||18.94|
|Earnings Date||Nov 11, 2019 - Nov 15, 2019|
|Forward Dividend & Yield||0.44 (1.19%)|
|1y Target Est||39.75|
Activist investor Paul Hilal has a track record of changing up the C-suite and board of directors, one analyst said.
Shares of Aramark shot up 12% toward a 10-month high in premarket trading Monday, after hedge fund Mantle Ridge L.P. disclosed that it had taken a large equity stake in the food and uniform services company. In a 13D filing with the Securities and Exchange Commission late Friday, Mantle Ridge disclosed that it owned 24.1 million Aramark shares, or 9.8% of the shares outstanding. That would make Mantle Ridge the largest shareholder, according to FactSet data. Including cash-settled forward transactions and call options, Mantle Ridge sad it has "economic exposure" of a total of 49.3 million Aramark shares, or 20% of the shares outstanding. Mantle Ridge said in the 13D filing that it intends to have "conversations, meetings and other communications" with Aramark's board of directors, management and certain shareholders to discuss the company's business, strategies, governance and composition of the management team and board, regarding "possibilities" for changes. In a statement following the 13D, Aramark said it is "focused on maximizing long-term value for all of our shareholders, and welcomes open communication and constructive dialogue with our shareholders toward that goal." Stifel Nicolaus and Instinet both upgraded Aramark to buy on Monday. Aramark's stock has run up 28% year to date through Friday, while the S&P 500 has gained 15%.
Harbor Yard Amphitheater (HYA) announced today it is partnering with Aramark (ARMK) to manage food and beverage services at the new concert venue on the Long Island Sound in Bridgeport, CT. Working closely with Harbor Yard, Aramark will develop a fresh and exciting food and beverage program that enhances the concert-goers experience with local, on-trend and great-tasting menu options and amenities. Aramark’s experience runs the full gamut of music venue concessions and facilities management.
Shares of Aramark rose nearly 10% in trading on Monday after activist investor Mantle Ridge unveiled a 20% stake in the food services company. The total economic interest is 20% including derivatives, according to Stifel, which increased its recommendation to buy from hold on the stock and its target price to $49 from $36 on the news. "The involvement of an activist shareholder (Mantle Ridge announced a 20% interest in the company) changes the picture materially.
(Bloomberg) -- Activist investor Mantle Ridge has built a 20% stake in food and facilities management company Aramark and plans to push for changes at the company.The New York-based fund run by Paul Hilal said in a regulatory filing Friday that it has built a position in the company in stock and options. The firm, whose stake is worth about $1.8 billion based on Friday’s closing price, said it planned to hold talks with the company about its strategic direction, governance, board and management composition, among other matters.Mantle Ridge didn’t say it planned to make a bid for the company. Any takeover action by the fund would have to be disclosed in the filing under U.S. Securities and Exchange Commission rules.“Aramark‘ is focused on maximizing long-term value for all of our shareholders, and welcomes open communication and constructive dialogue with our shareholders toward that goal,” the company said in a statement.Jonathan Gasthalter, a spokesman for Mantle Ridge, declined to comment.Share DeclineShares in Philadelphia-based Aramark have fallen about 9% over the past 12 months, giving it a market value of about $9.2 billion, according to data complied by Bloomberg. Its shares rose about 3.9% in aftermarket trading Friday.Hilal worked for years with billionaire hedge fund manager Bill Ackman before starting Mantle Ridge in 2016. While at Ackman’s Pershing Square Capital Management, Hilal was instrumental in several investments, including Pershing Square’s successful proxy fight at Canadian Pacific Railway Ltd.In 2017, Mantle Ridge led a campaign at U.S. railroad CSX Corp. that saw industry veteran Hunter Harrison installed as Chief Executive Officer before he passed away later that year. Nevertheless, shares in CSX have seen a total return of about 77% since Mantle Ridge disclosed its position in January 2017, according to data compiled by Bloomberg.(Updates with Aramark’s comment in fourth paragraph)To contact the reporter on this story: Scott Deveau in New York at email@example.comTo contact the editors responsible for this story: Liana Baker at firstname.lastname@example.org, Michael HythaFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
Aramark is focused on maximizing long-term value for all of our shareholders, and welcomes open communication and constructive dialogue with our shareholders toward that goal. Aramark (ARMK) proudly serves Fortune 500 companies, world champion sports teams, state-of-the-art healthcare providers, the world’s leading educational institutions, iconic destinations and cultural attractions, and numerous municipalities in 19 countries around the world. Aramark is recognized as one of the World’s Most Admired Companies by FORTUNE, as well as an employer of choice by the Human Rights Campaign and DiversityInc.
Announcement of Periodic Review: Moody's announces completion of a periodic review of ratings of Aramark Services, Inc. New York, August 12, 2019 -- Moody's Investors Service ("Moody's") has completed a periodic review of the ratings of Aramark Services, Inc. and other ratings that are associated with the same analytical unit. The review was conducted through a portfolio review in which Moody's reassessed the appropriateness of the ratings in the context of the relevant principal methodology(ies), recent developments, and a comparison of the financial and operating profile to similarly rated peers.
Aramark is entering the plant-based meat craze. The Philadelphia-based food services giant said it is working with Beyond Meat (NASDAQ: BYND) to offer items like meatless burgers, sausages and crumbles on its menus at college campuses, hospitals, sports venues, businesses and schools across the U.S. Aramark chefs, for example, are working to develop a gumbo bowl for hospital patient menus using Beyond Sausage. The company is also serving meatless burgers and brats at various ballparks, including Citi Field in New York and Minute Maid Park in Houston.
New plant-based menu options further Aramark’s commitment to offering choices that meet individual lifestyle and dietary preferences
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hares of Aramark jumped 6% in Tuesday trading after the food-service company reported third-fiscal-quarter earnings, a new share-buyback program and an acquisition. Net income totaled $90 million, or 33 cents per share, up from $72.6 million, or 29 cents per share, for the same period last year. Adjusted EPS of 47 cents beat the 45-cent FactSet consensus. Revenue of $4.01 billion was up from $3.97 billion and ahead of the $3.99 billion FactSet outlook. Aramark expects fiscal 2019 revenue growth of about 3% and adjusted EPS of $2.20 to $2.30. The FactSet outlook is for revenue of $16.22 billion, which indicates about 2.3% growth, and EPS of $2.24. After the conclusion of the third quarter, Aramark's board approved a new share-repurchase program authorizing the purchase of up to $200 million in common stock through July 2022. Aramark also announced that it has acquired app-based food service Good Uncle, which offers pickup points around 400 college campuses nationwide. Aramark's stock has rallied 27.7% in 2019, while the S&P 500 index has gained 14.7%.
The food-services giant calls the acquisition of the food delivery company Good Uncle a way to find and solve “friction points” that students feel when getting food delivered to them.
Aramark (ARMK) delivered earnings and revenue surprises of 4.44% and 0.58%, respectively, for the quarter ended June 2019. Do the numbers hold clues to what lies ahead for the stock?
Aramark Corp. is set to report third-quarter earnings before the opening bell on Tuesday, with Wall Street looking for the Philadelphia food services giant to report a slight uptick in revenue, but a smaller profit than this time last year. Analysts expect Aramark to report it ended the three-month period pulling in $4 billion in sales, up about half a percent from this time last year, according to a consensus estimate from Zacks Equity Research. The same analysts believe Aramark will report a profit of 45 cents per share, a year-over-year decline of 6.3 percent.
The Board of Directors of Aramark today declared a quarterly dividend of $0.11 per share payable on August 29, 2019, to shareholders of record at the close of business on August 15, 2019.
Aramark (ARMK) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.
Aramark is launching an exclusive new WearGuard® Eco Collection that offers an apparel solution for customers committed to minimizing their impact on environment, it was announced today. The eco-conscious apparel is created with recycled fiber blends, including traditional recycled polyester, oyster shell polyester and REPREVE® performance fiber manufactured entirely from recycled plastic bottles. “Our customers are more environmentally conscious than ever before and this exciting new solution is one way we are responding to an increasing demand for sustainable products,” said Brad Drummond, Chief Operating Officer of Aramark’s Uniform and Refreshments sector.
We often see insiders buying up shares in companies that perform well over the long term. On the other hand, we'd be...
Aramark (ARMK), a global leader in food, facilities management and uniforms, was named one of the “Best Places to Work for Disability Inclusion,” for the third year in a row, by the 2019 Disability Equality Index (DEI), with a top-score of 100%. The DEI is a joint initiative of Disability:IN and the American Association of People with Disabilities (AAPD), and is acknowledged as the most comprehensive disability inclusion assessment tool designed and embraced by both business leaders and disability advocates. First launched in 2015, the DEI gives businesses the tools needed to analyze their environment, identify opportunities for improvement and utilize their disability inclusion strategy as a competitive advantage.