ARP Americas LLC purchased a new position in shares of G&K Services, Inc. (NASDAQ:GK) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 49,602 shares of the company’s stock, valued at approximately $4,784,000. G&K Services comprises 1.9% of ARP Americas LLC’s investment portfolio, making the stock its 24th largest position. ARP Americas LLC owned 0.25% of G&K Services as of its most recent SEC filing.
A number of other hedge funds have also made changes to their positions in GK. Public Employees Retirement System of Ohio increased its stake in shares of G&K Services by 7.6% in the second quarter. Public Employees Retirement System of Ohio now owns 1,334 shares of the company’s stock worth $102,000 after buying an additional 94 shares during the last quarter. Teacher Retirement System of Texas boosted its position in shares of G&K Services by 14.2% in the second quarter. Teacher Retirement System of Texas now owns 2,797 shares of the company’s stock worth $214,000 after buying an additional 347 shares during the last quarter. Sphinx Trading LP purchased a new position in shares of G&K Services during the third quarter valued at about $239,000. BlackRock Inc. boosted its position in shares of G&K Services by 3.8% in the third quarter. BlackRock Inc. now owns 2,984 shares of the company’s stock valued at $285,000 after buying an additional 109 shares in the last quarter. Finally, Cowen Prime Services LLC purchased a new position in shares of G&K Services during the third quarter valued at about $286,000. Institutional investors and hedge funds own 91.17% of the company’s stock.
Shares of G&K Services, Inc. (NASDAQ:GK) traded down 0.14% on Friday, hitting $95.14. The company had a trading volume of 96,006 shares. The company has a market capitalization of $1.88 billion, a price-to-earnings ratio of 33.41 and a beta of 0.99. The stock’s 50-day moving average is $96.20 and its 200 day moving average is $94.29. G&K Services, Inc. has a 52 week low of $63.35 and a 52 week high of $98.21.
G&K Services (NASDAQ:GK) last announced its quarterly earnings data on Tuesday, January 31st. The company reported $0.90 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.99 by $0.09. G&K Services had a return on equity of 18.44% and a net margin of 5.77%. The firm earned $244.10 million during the quarter, compared to analysts’ expectations of $249.31 million. During the same quarter in the previous year, the business earned $0.92 earnings per share. The company’s revenue for the quarter was up .4% compared to the same quarter last year. Equities analysts expect that G&K Services, Inc. will post $3.57 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 10th. Stockholders of record on Monday, February 27th will be paid a $0.39 dividend. This represents a $1.56 annualized dividend and a dividend yield of 1.64%. The ex-dividend date is Thursday, February 23rd. G&K Services’s payout ratio is 54.74%.
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Separately, Zacks Investment Research raised G&K Services from a “sell” rating to a “hold” rating in a research report on Monday, November 21st. Four research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $104.00.
About G&K Services
G&K Services, Inc is a service-focused provider of branded uniform and facility services programs. The Company provides a range of workwear and protective safety apparel through rental and direct purchase programs. The Company also supplies various facility products and services, including floor mats, towels, mops, restroom hygiene products, and first aid supplies.
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