New York State Teachers Retirement System held its stake in shares of Aaron’s Inc. (NYSE:AAN) during the second quarter, Holdings Channel reports. The firm owned 125,915 shares of the company’s stock at the end of the second quarter. New York State Teachers Retirement System’s holdings in Aaron’s were worth $2,756,000 at the end of the most recent quarter.
Several other hedge funds have also modified their holdings of AAN. AMP Capital Investors Ltd purchased a new position in Aaron’s during the first quarter worth approximately $253,000. Parametrica Management Ltd purchased a new position in Aaron’s during the second quarter worth approximately $256,000. NN Investment Partners Holdings N.V. purchased a new position in Aaron’s during the second quarter worth approximately $434,000. Fox Run Management L.L.C. purchased a new position in Aaron’s during the second quarter worth approximately $655,000. Finally, First Quadrant L P CA raised its position in Aaron’s by 59.1% in the second quarter. First Quadrant L P CA now owns 33,100 shares of the company’s stock worth $725,000 after buying an additional 12,300 shares during the period. Institutional investors and hedge funds own 91.99% of the company’s stock.
Aaron’s Inc. (NYSE:AAN) traded up 0.40% during midday trading on Thursday, hitting $22.77. 822,349 shares of the company were exchanged. The firm’s 50-day moving average price is $24.89 and its 200-day moving average price is $24.52. Aaron’s Inc. has a one year low of $20.24 and a one year high of $38.85. The stock has a market capitalization of $1.66 billion, a PE ratio of 12.44 and a beta of 0.23.
Aaron’s (NYSE:AAN) last released its earnings results on Friday, July 29th. The company reported $0.59 EPS for the quarter, beating the consensus estimate of $0.57 by $0.02. Aaron’s had a net margin of 4.15% and a return on equity of 11.01%. The firm had revenue of $789.40 million for the quarter, compared to analyst estimates of $809.16 million. During the same period last year, the firm earned $0.61 EPS. The business’s quarterly revenue was up 2.7% compared to the same quarter last year. Equities research analysts anticipate that Aaron’s Inc. will post $2.26 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Monday, October 3rd. Shareholders of record on Friday, September 2nd were issued a $0.025 dividend. This represents a $0.10 annualized dividend and a yield of 0.44%. The ex-dividend date was Wednesday, August 31st. Aaron’s’s dividend payout ratio is currently 5.43%.
A number of research firms have commented on AAN. Jefferies Group began coverage on shares of Aaron’s in a research report on Thursday. They issued a “buy” rating and a $30.00 price target on the stock. Zacks Investment Research upgraded shares of Aaron’s from a “sell” rating to a “hold” rating in a research report on Tuesday, October 4th. Finally, TheStreet upgraded shares of Aaron’s from a “hold” rating to a “buy” rating in a research report on Thursday, September 1st. Three analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $29.93.
In other news, Director Robert H. Yanker bought 40,000 shares of the firm’s stock in a transaction on Friday, August 19th. The shares were purchased at an average cost of $25.29 per share, with a total value of $1,011,600.00. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 1.12% of the stock is currently owned by company insiders.
Aaron’s, Inc is a specialty retailer of furniture, consumer electronics, computers, appliances and household accessories. The Company’s operating segments include Sales and Lease Ownership, Progressive, HomeSmart, DAMI, Franchise, Manufacturing and Others. The Company’s store-based operations engage in the lease ownership and retail sale of a range of products, such televisions, computers, tablets, mobile phones, living room, dining room and bedroom furniture, mattresses, washers, dryers and refrigerators.