State of Tennessee Treasury Department continued to hold its stake in G&K Services Inc. (NASDAQ:GK) during the third quarter, Holdings Channel reports. The institutional investor owned 15,874 shares of the company’s stock at the end of the third quarter. State of Tennessee Treasury Department’s holdings in G&K Services were worth $1,516,000 at the end of the most recent quarter.
A number of other large investors have also added to or reduced their stakes in the company. Public Employees Retirement System of Ohio raised 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. Advisor Group Inc. purchased a new stake in shares of G&K Services during the second quarter worth $116,000. Sphinx Trading LP purchased a new stake in shares of G&K Services during the third quarter worth $239,000. PineBridge Investments L.P. raised its stake in shares of G&K Services by 3.0% in the second quarter. PineBridge Investments L.P. now owns 2,506 shares of the company’s stock worth $192,000 after buying an additional 74 shares during the last quarter. Finally, Teacher Retirement System of Texas raised its stake 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. Institutional investors own 90.80% of the company’s stock.
G&K Services Inc. (NASDAQ:GK) traded down 0.27% on Thursday, hitting $96.56. 103,956 shares of the company were exchanged. G&K Services Inc. has a 52-week low of $51.94 and a 52-week high of $98.21. The stock has a market cap of $1.90 billion, a PE ratio of 29.17 and a beta of 1.03. The firm has a 50 day moving average of $96.37 and a 200-day moving average of $92.49.
G&K Services (NASDAQ:GK) last released its quarterly earnings data on Tuesday, November 1st. The company reported $0.89 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.91 by $0.02. G&K Services had a return on equity of 18.75% and a net margin of 6.72%. The business had revenue of $241 million for the quarter, compared to analysts’ expectations of $245.08 million. During the same quarter in the prior year, the firm earned $0.80 earnings per share. G&K Services’s quarterly revenue was up 1.6% compared to the same quarter last year. On average, equities analysts expect that G&K Services Inc. will post $3.76 earnings per share for the current fiscal year.
A number of equities research analysts have recently weighed in on the stock. Zacks Investment Research upgraded shares of G&K Services from a “sell” rating to a “hold” rating in a report on Wednesday, January 4th. Barrington Research lowered shares of G&K Services from an “outperform” rating to a “market perform” rating in a report on Thursday, October 6th. Five investment analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. G&K Services presently has an average rating of “Hold” and an average price target of $104.00.
In other G&K Services news, Director Alice M. Richter sold 2,400 shares of the business’s stock in a transaction that occurred on Monday, November 7th. The shares were sold at an average price of $94.76, for a total transaction of $227,424.00. Following the completion of the sale, the director now directly owns 15,095 shares in the company, valued at $1,430,402.20. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 3.66% of the stock is owned by insiders.
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.
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