G&K Services Inc. (NASDAQ:gk) announced a quarterly dividend on Wednesday, November 16th. Investors of record on Wednesday, November 30th will be paid a dividend of 0.39 per share on Friday, December 16th. This represents a $1.56 annualized dividend and a dividend yield of 1.63%. The ex-dividend date is Monday, November 28th.

Shares of G&K Services (NASDAQ:GK) opened at 95.81 on Thursday. G&K Services has a one year low of $51.94 and a one year high of $98.21. The company’s 50 day moving average price is $95.10 and its 200 day moving average price is $85.59. The stock has a market capitalization of $1.89 billion, a P/E ratio of 28.95 and a beta of 1.06.

G&K Services (NASDAQ:GK) last posted its quarterly earnings results on Tuesday, November 1st. The company reported $0.89 earnings per share for the quarter, missing the consensus estimate of $0.91 by $0.02. The business had revenue of $241 million for the quarter, compared to analyst estimates of $245.08 million. G&K Services had a net margin of 6.72% and a return on equity of 18.75%. The firm’s quarterly revenue was up 1.6% on a year-over-year basis. During the same period in the previous year, the firm posted $0.80 earnings per share. On average, equities analysts expect that G&K Services will post $3.77 earnings per share for the current year.

Dividend History for G&K Services (NASDAQ:gk)

A number of research analysts have commented on the company. Zacks Investment Research upgraded G&K Services from a “sell” rating to a “hold” rating in a research note on Wednesday, September 28th. Robert W. Baird upgraded G&K Services from a “neutral” rating to an “outperform” rating and set a $111.00 price target for the company in a research note on Wednesday, August 17th. Barrington Research downgraded G&K Services from an “outperform” rating to a “market perform” rating in a research note on Thursday, October 6th. Finally, JPMorgan Chase & Co. downgraded G&K Services from an “overweight” rating to a “neutral” rating and set a $97.00 price target for the company. in a research note on Thursday, August 18th. Five research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $94.67.

In other G&K Services news, VP Jeffrey Louis Cotter sold 477 shares of the company’s stock in a transaction that occurred on Thursday, September 1st. The stock was sold at an average price of $96.99, for a total value of $46,264.23. Following the completion of the transaction, the vice president now owns 26,881 shares of the company’s stock, valued at approximately $2,607,188.19. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director M Lenny Pippin sold 2,400 shares of the company’s stock in a transaction that occurred on Tuesday, September 6th. The shares were sold at an average price of $97.30, for a total value of $233,520.00. Following the completion of the transaction, the director now directly owns 22,398 shares of the company’s stock, valued at approximately $2,179,325.40. The disclosure for this sale can be found here. Corporate insiders own 3.66% of the company’s stock.

Institutional investors have recently bought and sold shares of the stock. BlackRock Fund Advisors boosted its position in shares of G&K Services by 1.7% in the second quarter. BlackRock Fund Advisors now owns 1,268,787 shares of the company’s stock worth $97,151,000 after buying an additional 21,031 shares during the last quarter. Westwood Holdings Group Inc. raised 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 during the period. BlackRock Investment Management LLC raised its stake in G&K Services by 5.4% in the second quarter. BlackRock Investment Management LLC now owns 83,823 shares of the company’s stock worth $6,418,000 after buying an additional 4,259 shares during the period. Morgan Stanley raised its stake in G&K Services by 389.8% in the third quarter. Morgan Stanley now owns 82,421 shares of the company’s stock worth $7,871,000 after buying an additional 65,592 shares during the period. Finally, State of Wisconsin Investment Board raised its stake in G&K Services by 1.2% in the second quarter. State of Wisconsin Investment Board now owns 65,800 shares of the company’s stock worth $5,038,000 after buying an additional 800 shares during the period. 91.36% of the stock is owned by hedge funds and other institutional investors.

G&K Services Company Profile

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.

5 Day Chart for NASDAQ:GK

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