According to Zacks, “G&K Services, Inc. is a market leader in branded identity apparel programs and facility services in the United States, and is the largest such provider in Canada. G&K operates over processing facilities and branch offices. “
GK has been the topic of a number of other research reports. Robert W. Baird upgraded G&K Services from a neutral rating to an outperform rating and set a $111.00 price target on the stock in a research note on Wednesday, August 17th. Sidoti downgraded G&K Services from a buy rating to a neutral rating in a research note on Monday, June 6th. Finally, JPMorgan Chase & Co. downgraded G&K Services from an overweight rating to a neutral rating and set a $97.00 price target on the stock. in a research note on Thursday, August 18th. Four analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. G&K Services has a consensus rating of Hold and an average price target of $94.67.
G&K Services (NASDAQ:GK) opened at 96.63 on Monday. G&K Services has a 52 week low of $51.94 and a 52 week high of $98.22. The firm has a market capitalization of $1.90 billion, a P/E ratio of 26.77 and a beta of 1.17. The stock’s 50 day moving average price is $93.24 and its 200 day moving average price is $79.15.
G&K Services (NASDAQ:GK) last released 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 firm had revenue of $258.50 million for the quarter, compared to the consensus estimate of $257.80 million. G&K Services had a return on equity of 18.89% and a net margin of 7.38%. The firm’s quarterly revenue was up 9.3% compared to the same quarter last year. During the same quarter last year, the business posted $0.83 EPS. On average, equities analysts expect that G&K Services will post $3.89 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, September 23rd. Shareholders of record on Thursday, September 8th will be paid a $0.39 dividend. This is an increase from G&K Services’s previous quarterly dividend of $0.37. This represents a $1.56 annualized dividend and a dividend yield of 1.61%. The ex-dividend date is Tuesday, September 6th. G&K Services’s dividend payout ratio (DPR) is 43.21%.
In related news, Director Lynn Crump Caine sold 3,100 shares of G&K Services stock in a transaction that occurred on Tuesday, September 13th. The stock was sold at an average price of $96.67, for a total value of $299,677.00. Following the sale, the director now directly owns 9,595 shares in the company, valued at $927,548.65. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, VP Jeffrey Louis Cotter sold 477 shares of G&K Services stock in a transaction that occurred on Thursday, September 1st. The shares were sold at an average price of $96.99, for a total value of $46,264.23. Following the completion of the sale, the vice president now owns 26,881 shares in the company, valued at $2,607,188.19. The disclosure for this sale can be found here. 3.66% of the stock is owned by company insiders.
Several hedge funds have recently bought and sold shares of the stock. Norges Bank acquired a new stake in G&K Services during the fourth quarter worth $13,397,000. Aperio Group LLC acquired a new stake in G&K Services during the first quarter worth $336,000. Mondrian Investment Partners LTD increased its stake in G&K Services by 8,144.9% in the first quarter. Mondrian Investment Partners LTD now owns 35,783 shares of the company’s stock worth $2,621,000 after buying an additional 35,349 shares during the period. TIAA CREF Investment Management LLC increased its stake in G&K Services by 4.9% in the first quarter. TIAA CREF Investment Management LLC now owns 81,384 shares of the company’s stock worth $5,961,000 after buying an additional 3,792 shares during the period. Finally, Teachers Advisors Inc. increased its stake in G&K Services by 10.8% in the first quarter. Teachers Advisors Inc. now owns 33,047 shares of the company’s stock worth $2,421,000 after buying an additional 3,215 shares during the period. Hedge funds and other institutional investors own 94.75% of the company’s stock.
About G&K Services
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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