G & K Services CEO Douglas A. Milroy Unloads 9,000 Shares (GK)
G & K Services (NYSE:GK) CEO Douglas A. Milroy sold 9,000 shares of the stock in a transaction that occurred on Wednesday, August 27th. The shares were sold at an average price of $55.03, for a total transaction of $495,270.00. Following the transaction, the chief executive officer now directly owns 264,282 shares in the company, valued at approximately $14,543,438. The transaction was disclosed in a document filed with the SEC, which is available at this link.
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 (NYSE:GK) traded up 0.33% on Thursday, hitting $55.15. 138,542 shares of the company’s stock traded hands. 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 $51.35 and its 200-day moving average is $55.30. The company has a market cap of $1.098 billion and a price-to-earnings ratio of 23.30.
G & K Services (NYSE:GK) last announced its earnings results on Thursday, August 14th. The company reported $0.76 EPS for the quarter, beating the Thomson Reuters 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 $3.19 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Friday, September 26th. Shareholders of record on Thursday, September 11th will be paid a dividend of $0.31 per share. This represents a $1.24 annualized dividend and a dividend yield of 2.25%. The ex-dividend date is Tuesday, September 9th. This is a positive change from G & K Services’s previous quarterly dividend of $0.27.
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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