Robert G. Wood Sells 10,000 Shares of G & K Services Stock (GK)
G & K Services (NYSE:GK) Chairman Robert G. Wood sold 10,000 shares of G & K Services stock on the open market in a transaction dated Thursday, August 21st. The shares were sold at an average price of $54.46, for a total transaction of $544,600.00. Following the transaction, the chairman now directly owns 27,528 shares of the company’s stock, valued at approximately $1,499,175. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.
Shares of G & K Services (NYSE:GK) traded down 0.81% during mid-day trading on Monday, hitting $54.88. 49,141 shares of the company’s stock traded hands. G & K Services has a 52-week low of $47.40 and a 52-week high of $65.36. The stock has a 50-day moving average of $51.00 and a 200-day moving average of $55.37. The company has a market cap of $1.093 billion and a P/E ratio of 23.45.
G & K Services (NYSE:GK) last announced its earnings results 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.
The company also recently declared a quarterly dividend, which is scheduled for Friday, September 26th. Shareholders of record on Thursday, September 11th will be given a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a yield of 2.26%. The ex-dividend date of this dividend is Tuesday, September 9th. This is a positive change from G & K Services’s previous quarterly dividend of $0.27.
A number of analysts have recently weighed in on GK shares. 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.
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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