Shares of G&K Services Inc. (NASDAQ:GK) have earned a consensus rating of “Hold” from the six ratings firms that are covering the stock. Five research analysts have rated the stock with a hold recommendation and one has assigned a buy recommendation to the company. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is $104.00.
GK has been the topic of several recent research reports. Zacks Investment Research raised shares of G&K Services from a “sell” rating to a “hold” rating in a research report on Wednesday, September 28th. Barrington Research lowered shares of G&K Services from an “outperform” rating to a “market perform” rating in a research report on Thursday. JPMorgan Chase & Co. lowered shares of G&K Services from an “overweight” rating to a “neutral” rating and set a $97.00 price objective on the stock. in a research report on Thursday, August 18th. Finally, Robert W. Baird raised shares of G&K Services from a “neutral” rating to an “outperform” rating and set a $111.00 price objective on the stock in a research report on Wednesday, August 17th.
In other news, Director John S. Bronson sold 3,369 shares of the firm’s stock in a transaction on Monday, August 29th. The shares were sold at an average price of $97.24, for a total value of $327,601.56. Following the sale, the director now owns 6,026 shares in the company, valued at $585,968.24. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Lynn Crump Caine sold 3,100 shares of the firm’s stock in a transaction on Tuesday, September 13th. The stock was sold at an average price of $96.67, for a total transaction of $299,677.00. Following the completion of the sale, the director now owns 9,595 shares in the company, valued at approximately $927,548.65. The disclosure for this sale can be found here. Company insiders own 3.66% of the company’s stock.
Several large investors have recently made changes to their positions in GK. TimesSquare Capital Management LLC bought a new stake in shares of G&K Services during the second quarter valued at about $42,640,000. JPMorgan Chase & Co. increased its stake in G&K Services by 213.0% in the first quarter. JPMorgan Chase & Co. now owns 470,753 shares of the company’s stock worth $34,482,000 after buying an additional 320,343 shares in the last quarter. Westwood Holdings Group Inc. increased its stake in G&K Services by 572.2% in the second quarter. Westwood Holdings Group Inc. now owns 94,051 shares of the company’s stock worth $7,201,000 after buying an additional 80,059 shares in the last quarter. Wellington Management Group LLP increased its stake in G&K Services by 4.5% in the first quarter. Wellington Management Group LLP now owns 1,798,623 shares of the company’s stock worth $131,749,000 after buying an additional 77,469 shares in the last quarter. Finally, Emerald Acquisition Ltd. acquired a new stake in G&K Services during the second quarter worth $5,493,000. Institutional investors and hedge funds own 94.75% of the company’s stock.
Shares of G&K Services (NASDAQ:GK) opened at 95.20 on Friday. G&K Services has a 12-month low of $51.94 and a 12-month high of $98.22. The company has a 50-day moving average of $96.57 and a 200 day moving average of $81.12. The firm has a market capitalization of $1.87 billion, a PE ratio of 26.37 and a beta of 1.15.
G&K Services (NASDAQ:GK) last posted its quarterly earnings results on Tuesday, August 16th. The company reported $1.00 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.95 by $0.05. The business earned $258.50 million during the quarter, compared to analyst estimates of $257.80 million. G&K Services had a net margin of 7.38% and a return on equity of 18.89%. The firm’s revenue was up 9.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.83 earnings per share. On average, analysts predict that G&K Services will post $3.89 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Friday, September 23rd. Shareholders of record on Thursday, September 8th were issued a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a yield of 1.64%. The ex-dividend date of this dividend was Tuesday, September 6th. This is an increase from G&K Services’s previous quarterly dividend of $0.37. G&K Services’s dividend payout ratio (DPR) is 43.21%.
G&K Services Company Profile
G&K Services, Inc is a service-focused market leader of branded uniform and facility services programs. The Company’s facility products and services include floor mats, towels, mops and restroom hygiene products. The Company serves customers in industries including automotive, warehousing, distribution, transportation, energy, manufacturing, food processing, pharmaceutical, retail, restaurants, hospitality, government, healthcare and others.
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