Barrington Research cut shares of G&K Services Inc. (NASDAQ:GK) from an outperform rating to a market perform rating in a report published on Thursday.

A number of other brokerages have also recently commented on GK. Zacks Investment Research raised shares of G&K Services from a sell rating to a hold rating in a report on Monday, July 4th. JPMorgan Chase & Co. cut shares of G&K Services from an overweight rating to a neutral rating and set a $97.00 target price for the company. in a 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 target price for the company in a report on Wednesday, August 17th. Five analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. The company currently has a consensus rating of Hold and a consensus price target of $94.67.

Analyst Recommendations for G&K Services (NASDAQ:GK)

Shares of G&K Services (NASDAQ:GK) traded down 0.22% on Thursday, reaching $95.26. 68,164 shares of the company were exchanged. G&K Services has a 52-week low of $51.94 and a 52-week high of $98.22. The stock has a 50 day moving average of $96.63 and a 200-day moving average of $80.95. The company has a market capitalization of $1.88 billion, a P/E ratio of 26.39 and a beta of 1.14.

G&K Services (NASDAQ:GK) last announced its quarterly earnings results on Tuesday, August 16th. The company reported $1.00 earnings per share for the quarter, beating analysts’ consensus estimates of $0.95 by $0.05. G&K Services had a net margin of 7.38% and a return on equity of 18.89%. The firm earned $258.50 million during the quarter, compared to analysts’ expectations of $257.80 million. During the same period in the previous year, the company earned $0.83 earnings per share. G&K Services’s quarterly revenue was up 9.3% compared to the same quarter last year. On average, analysts predict that G&K Services will post $3.89 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Friday, September 23rd. Stockholders of record on Thursday, September 8th were paid a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a dividend yield of 1.63%. This is a positive change from G&K Services’s previous quarterly dividend of $0.37. The ex-dividend date of this dividend was Tuesday, September 6th. G&K Services’s payout ratio is 43.21%.

In other news, Director M Lenny Pippin sold 2,400 shares of the business’s stock in a transaction dated Tuesday, September 6th. The shares were sold at an average price of $97.30, for a total transaction of $233,520.00. Following the transaction, the director now directly owns 22,398 shares in the company, valued at $2,179,325.40. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director John S. Bronson sold 3,369 shares of the business’s stock in a transaction dated Monday, August 29th. The stock was sold at an average price of $97.24, for a total transaction of $327,601.56. Following the transaction, the director now owns 6,026 shares in the company, valued at $585,968.24. The disclosure for this sale can be found here. Insiders own 3.66% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of GK. Capstone Asset Management Co. raised its position in shares of G&K Services by 6.6% in the second quarter. Capstone Asset Management Co. now owns 6,963 shares of the company’s stock worth $533,000 after buying an additional 430 shares during the period. BNP Paribas Arbitrage SA raised its position in shares of G&K Services by 87.2% in the second quarter. BNP Paribas Arbitrage SA now owns 6,713 shares of the company’s stock valued at $514,000 after buying an additional 3,127 shares during the last quarter. Silvercrest Asset Management Group LLC raised its position in shares of G&K Services by 5.2% in the first quarter. Silvercrest Asset Management Group LLC now owns 440,473 shares of the company’s stock valued at $32,264,000 after buying an additional 21,807 shares during the last quarter. Nuveen Asset Management LLC raised its position in shares of G&K Services by 90.8% in the first quarter. Nuveen Asset Management LLC now owns 53,121 shares of the company’s stock valued at $3,891,000 after buying an additional 25,274 shares during the last quarter. Finally, Wellington Management Group LLP raised its position in shares of 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 valued at $131,749,000 after buying an additional 77,469 shares during the last quarter. Institutional investors and hedge funds 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.

5 Day Chart for NASDAQ:GK

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