Royce & Associates LP Reduces Position in Aaron’s, Inc. (AAN)
Royce & Associates LP lessened its holdings in shares of Aaron’s, Inc. (NYSE:AAN) by 3.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 34,743 shares of the company’s stock after selling 1,131 shares during the period. Royce & Associates LP owned 0.05% of Aaron’s worth $1,461,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also made changes to their positions in AAN. Oregon Public Employees Retirement Fund increased its position in shares of Aaron’s by 4,622.5% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 1,151,876 shares of the company’s stock valued at $27,000 after purchasing an additional 1,127,485 shares during the last quarter. Quantamental Technologies LLC purchased a new stake in shares of Aaron’s in the 4th quarter valued at approximately $102,000. Pearl River Capital LLC purchased a new position in shares of Aaron’s in the 4th quarter valued at $104,000. Engineers Gate Manager LP purchased a new position in shares of Aaron’s in the 3rd quarter valued at $202,000. Finally, Meeder Asset Management Inc. grew its position in shares of Aaron’s by 4,361.3% in the 4th quarter. Meeder Asset Management Inc. now owns 4,952 shares of the company’s stock valued at $207,000 after buying an additional 4,841 shares during the last quarter.
AAN has been the topic of a number of recent analyst reports. Northcoast Research raised shares of Aaron’s from a “neutral” rating to a “buy” rating and set a $65.00 target price on the stock in a research report on Thursday, February 21st. Loop Capital increased their target price on shares of Aaron’s from $53.00 to $60.00 and gave the company a “buy” rating in a research report on Thursday, February 14th. KeyCorp reaffirmed a “buy” rating and issued a $68.00 target price on shares of Aaron’s in a research report on Friday, February 15th. Stephens set a $57.00 target price on shares of Aaron’s and gave the company a “buy” rating in a research report on Friday, February 15th. Finally, Raymond James reaffirmed a “buy” rating and issued a $61.00 target price on shares of Aaron’s in a research report on Sunday, February 17th. Two research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Aaron’s has an average rating of “Buy” and a consensus target price of $62.25.
Aaron’s (NYSE:AAN) last issued its quarterly earnings data on Thursday, February 14th. The company reported $1.02 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.03 by ($0.01). Aaron’s had a return on equity of 13.51% and a net margin of 5.12%. The business had revenue of $993.20 million for the quarter, compared to analysts’ expectations of $966.29 million. During the same period in the previous year, the business posted $0.65 earnings per share. The company’s revenue for the quarter was up 12.3% on a year-over-year basis. On average, research analysts forecast that Aaron’s, Inc. will post 3.75 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, April 5th. Stockholders of record on Tuesday, March 19th will be paid a $0.035 dividend. This represents a $0.14 annualized dividend and a dividend yield of 0.26%. The ex-dividend date is Monday, March 18th. Aaron’s’s dividend payout ratio (DPR) is presently 4.17%.
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Aaron’s Company Profile
Aaron's, Inc operates as an omnichannel provider of lease-purchase solutions to underserved and credit-challenged customers. It operates in three segments: Progressive Leasing, Aaron's Business, and DAMI. The company also engages in the sale, lease ownership, and specialty retailing of furniture, consumer electronics, home appliances, and accessories.
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