G & K Services VP Unloads $114,422 in Stock (GK)
G & K Services (NYSE:GK) VP Thomas Joseph Dietz sold 2,048 shares of G & K Services stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $55.87, for a total transaction of $114,421.76. Following the completion of the sale, the vice president now directly owns 12,236 shares in the company, valued at approximately $683,625. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
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.
G & K Services (NYSE:GK) traded up 0.46% during mid-day trading on Wednesday, hitting $56.88. The stock had a trading volume of 208,809 shares. G & K Services has a 52 week low of $47.40 and a 52 week high of $65.36. The stock’s 50-day moving average is $51.58 and its 200-day moving average is $55.1. The company has a market cap of $1.133 billion and a P/E ratio of 24.00.
G & K Services (NYSE:GK) last released its earnings data 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 declared a quarterly dividend, which is scheduled for Friday, September 26th. Investors 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 2.18%. The ex-dividend date of this dividend is Tuesday, September 9th. This is an increase 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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