California Public Employees Retirement System Sells 7,000 Shares of Aaron’s Inc. (AAN)
California Public Employees Retirement System reduced its stake in shares of Aaron’s Inc. (NYSE:AAN) by 3.3% during the second quarter, Holdings Channel reports. The firm owned 202,300 shares of the company’s stock after selling 7,000 shares during the period. California Public Employees Retirement System owned approximately 0.28% of Aaron’s worth $4,428,000 at the end of the most recent reporting period.
Other hedge funds have also recently modified their holdings of the company. Retirement Systems of Alabama increased its stake in shares of Aaron’s by 481.8% in the second quarter. Retirement Systems of Alabama now owns 484,821 shares of the company’s stock valued at $10,613,000 after buying an additional 401,496 shares during the period. Palisade Capital Management LLC NJ acquired a new position in Aaron’s during the second quarter valued at approximately $7,184,000. JPMorgan Chase & Co. boosted its position in Aaron’s by 271.9% in the first quarter. JPMorgan Chase & Co. now owns 398,312 shares of the company’s stock valued at $9,998,000 after buying an additional 291,209 shares during the period. Emerald Acquisition Ltd. acquired a new position in Aaron’s during the second quarter valued at approximately $4,862,000. Finally, Foundry Partners LLC boosted its position in Aaron’s by 771.4% in the second quarter. Foundry Partners LLC now owns 141,305 shares of the company’s stock valued at $3,093,000 after buying an additional 125,090 shares during the period. 91.99% of the stock is owned by institutional investors.
Shares of Aaron’s Inc. (NYSE:AAN) traded up 0.36% during trading on Monday, reaching $25.01. The company had a trading volume of 682,948 shares. The stock has a 50 day moving average price of $24.56 and a 200 day moving average price of $24.37. The firm has a market capitalization of $1.82 billion, a PE ratio of 13.66 and a beta of 0.28. Aaron’s Inc. has a 12 month low of $20.24 and a 12 month high of $40.80.
Aaron’s (NYSE:AAN) last announced its quarterly earnings results on Friday, July 29th. The company reported $0.59 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.57 by $0.02. Aaron’s had a return on equity of 11.01% and a net margin of 4.15%. The business earned $789.40 million during the quarter, compared to analyst estimates of $809.16 million. During the same period in the previous year, the company earned $0.61 EPS. The firm’s revenue was up 2.7% on a year-over-year basis. On average, equities research analysts forecast that Aaron’s Inc. will post $2.26 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 3rd. Investors of record on Friday, September 2nd will be paid a $0.025 dividend. This represents a $0.10 dividend on an annualized basis and a dividend yield of 0.40%. The ex-dividend date of this dividend is Wednesday, August 31st. Aaron’s’s payout ratio is 5.43%.
Several research firms have recently commented on AAN. Zacks Investment Research cut Aaron’s from a “hold” rating to a “sell” rating in a research note on Tuesday, August 2nd. Topeka Capital Markets began coverage on Aaron’s in a research note on Monday, May 23rd. They set a “buy” rating and a $30.00 target price for the company. Finally, TheStreet upgraded Aaron’s from a “hold” rating to a “buy” rating in a research note on Thursday, September 1st. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, four have given a buy rating and one has given a strong buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $31.36.
In related news, Director Robert H. Yanker acquired 40,000 shares of the business’s stock in a transaction that occurred on Friday, August 19th. The shares were acquired at an average cost of $25.29 per share, with a total value of $1,011,600.00. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. 1.12% of the stock is owned by corporate insiders.
Aaron’s Company Profile
Aaron’s, Inc is a specialty retailer of furniture, consumer electronics, computers, appliances and household accessories. The Company’s operating segments include Sales and Lease Ownership, Progressive, HomeSmart, DAMI, Franchise, Manufacturing and Others. The Company’s store-based operations engage in the lease ownership and retail sale of a range of products, such televisions, computers, tablets, mobile phones, living room, dining room and bedroom furniture, mattresses, washers, dryers and refrigerators.
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