BlackRock Group LTD raised its position in shares of G&K Services, Inc. (NASDAQ:GK) by 2.6% during the third quarter, Holdings Channel reports. The firm owned 28,915 shares of the company’s stock after buying an additional 740 shares during the period. BlackRock Group LTD owned approximately 0.15% of G&K Services worth $2,761,000 at the end of the most recent reporting period.
A number of other institutional investors have also made changes to their positions in the stock. TimesSquare Capital Management LLC bought a new stake in G&K Services during the second quarter valued at approximately $42,640,000. BlackRock Fund Advisors boosted its stake in G&K Services by 7.7% in the third quarter. BlackRock Fund Advisors now owns 1,366,323 shares of the company’s stock valued at $130,470,000 after buying an additional 97,536 shares during the period. Westwood Holdings Group Inc. boosted 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 valued at $7,201,000 after buying an additional 80,059 shares during the period. Silvercrest Asset Management Group LLC boosted its stake in G&K Services by 12.4% in the second quarter. Silvercrest Asset Management Group LLC now owns 495,072 shares of the company’s stock valued at $37,908,000 after buying an additional 54,599 shares during the period. Finally, ProShare Advisors LLC boosted its stake in G&K Services by 832.4% in the second quarter. ProShare Advisors LLC now owns 27,068 shares of the company’s stock valued at $2,073,000 after buying an additional 24,165 shares during the period. 90.94% of the stock is owned by hedge funds and other institutional investors.
G&K Services, Inc. (NASDAQ:GK) traded down 0.19% during mid-day trading on Friday, hitting $96.50. The company had a trading volume of 172,938 shares. The company’s 50 day moving average price is $96.44 and its 200-day moving average price is $93.09. The company has a market cap of $1.90 billion, a PE ratio of 29.15 and a beta of 1.03. G&K Services, Inc. has a one year low of $60.90 and a one year high of $98.21.
G&K Services (NASDAQ:GK) last announced its 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 the consensus estimate 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 revenue was up 1.6% on a year-over-year basis. During the same period in the previous year, the firm earned $0.80 EPS. Equities research analysts anticipate that G&K Services, Inc. will post $3.76 EPS for the current fiscal year.
A number of research analysts recently weighed in on the company. Zacks Investment Research raised G&K Services from a “sell” rating to a “hold” rating in a report on Wednesday, January 4th. Barrington Research lowered 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 assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $104.00.
In other news, Director Alice M. Richter sold 2,400 shares of the business’s stock in a transaction on Monday, November 7th. The stock was sold at an average price of $94.76, for a total value of $227,424.00. Following the sale, the director now owns 15,095 shares of the company’s stock, valued at approximately $1,430,402.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 3.66% of the stock is currently owned by insiders.
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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