Today, 42 Shares of G&K Services Inc. (GK) are sold by Bank of Montreal Can

Today, 42 Shares of G&K Services Inc. (GK) are sold by Bank of Montreal Can

Bank of Montreal Can cut its position in G&K Services Inc. (NASDAQ:GK) by 1.5% during the third quarter, Holdings Channel reports. The institutional investor owned 2,801 shares of the company’s stock after selling 42 shares during the period. Bank of Montreal Can’s holdings in G&K Services were worth $267,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Public Employees Retirement System of Ohio boosted 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 valued at $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 valued at approximately $116,000. PineBridge Investments L.P. boosted 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 valued at $192,000 after buying an additional 74 shares during the last quarter. Teacher Retirement System of Texas boosted 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 valued at $214,000 after buying an additional 347 shares during the last quarter. Finally, Opus Capital Group LLC boosted its stake in shares of G&K Services by 1.2% in the second quarter. Opus Capital Group LLC now owns 2,809 shares of the company’s stock valued at $215,000 after buying an additional 32 shares during the last quarter. 89.90% of the stock is currently owned by institutional investors.

Shares of G&K Services Inc. (NASDAQ:GK) traded up 0.10% during midday trading on Friday, hitting $96.77. 88,660 shares of the company’s stock were exchanged. The company has a 50-day moving average of $95.20 and a 200-day moving average of $86.66. G&K Services Inc. has a 52 week low of $51.94 and a 52 week high of $98.21. The firm has a market cap of $1908.50 billion, a price-to-earnings ratio of 29.24 and a beta of 1.06.

G&K Services (NASDAQ:GK) last announced its quarterly earnings data on Tuesday, November 1st. The company reported $0.89 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.91 by $0.02. G&K Services had a net margin of 6.72% and a return on equity of 18.75%. The business earned $241 million during the quarter, compared to analyst estimates of $245.08 million. During the same quarter in the prior year, the company earned $0.80 earnings per share. The company’s quarterly revenue was up 1.6% on a year-over-year basis. Equities research analysts expect that G&K Services Inc. will post $3.77 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 16th. Investors of record on Wednesday, November 30th will be issued a $0.39 dividend. The ex-dividend date of this dividend is Monday, November 28th. This represents a $1.56 annualized dividend and a yield of 1.61%. G&K Services’s dividend payout ratio is currently 47.13%.

Several brokerages recently commented on GK. Zacks Investment Research raised G&K Services from a “sell” rating to a “hold” rating in a report on Wednesday, September 28th. Robert W. Baird raised G&K Services from a “neutral” rating to an “outperform” rating and set a $111.00 target price on the stock in a report on Wednesday, August 17th. Barrington Research cut G&K Services from an “outperform” rating to a “market perform” rating in a report on Thursday, October 6th. Finally, JPMorgan Chase & Co. cut G&K Services from an “overweight” rating to a “neutral” rating and set a $97.00 target price on the stock. in a report on Thursday, August 18th. Five research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $94.67.

In other G&K Services news, Director John S. Bronson sold 3,369 shares of the company’s stock in a transaction that occurred on Monday, August 29th. The shares were sold at an average price of $97.24, for a total value of $327,601.56. Following the completion of the sale, the director now owns 6,026 shares of the company’s stock, valued at $585,968.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 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 transaction of $233,520.00. Following the completion of the sale, 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. 3.66% of the stock is currently owned by corporate 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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