G & K Services Inc. (GK) Declares Quarterly Dividend of $0.31
G & K Services (NYSE:GK) declared a quarterly dividend on Friday, August 22nd, American Banking and Market News reports. Shareholders of record on Thursday, September 11th will be given a dividend of 0.31 per share on Friday, September 26th. This represents a $1.24 dividend on an annualized basis and a yield of 2.25%.
A number of research firms have recently commented on GK. Analysts at JPMorgan Chase & Co. upgraded shares of G & K Services from a “neutral” rating to an “overweight” rating in a research note on Friday, August 15th. They now have a $64.00 price target on the stock, up previously from $60.00. They noted that the move was a valuation call. Analysts at KeyCorp reiterated a “buy” rating on shares of G & K Services in a research note on Tuesday, June 24th. They now have a $63.00 price target on the stock, down previously from $68.00.
Shares of G & K Services (NYSE:GK) opened at 55.04 on Friday. G & K Services has a 1-year low of $47.40 and a 1-year high of $65.36. The stock’s 50-day moving average is $50.96 and its 200-day moving average is $55.37. The company has a market cap of $1.081 billion and a price-to-earnings ratio of 23.01.
G & K Services (NYSE:GK) last issued its quarterly earnings data on Thursday, August 14th. The company reported $0.76 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.73 by $0.03. The company had revenue of $219.40 million for the quarter, compared to the consensus estimate of $227.28 million. Analysts expect that G & K Services will post $3.20 EPS for the current fiscal year.
In other G & K Services news, Director M Lenny Pippin sold 1,000 shares of the stock on the open market in a transaction that occurred on Wednesday, August 20th. The shares were sold at an average price of $54.63, for a total transaction of $54,630.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.
G&K Services, Inc, provides branded uniform and facility services programs. The Company serves a base of approximately 165,000 customers.
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