G&K Services Inc. (NASDAQ:GK) Director Lynn Crump Caine sold 3,100 shares of G&K Services stock in a transaction dated Tuesday, September 13th. The stock was sold at an average price of $96.67, for a total transaction of $299,677.00. Following the completion of the sale, the director now directly owns 9,595 shares in the company, valued at approximately $927,548.65. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

G&K Services Inc. (NASDAQ:GK) opened at 96.54 on Monday. G&K Services Inc. has a 1-year low of $51.94 and a 1-year high of $98.22. The stock has a 50 day moving average of $90.05 and a 200 day moving average of $77.83. The stock has a market cap of $1.90 billion, a P/E ratio of 26.74 and a beta of 1.17.

G&K Services (NASDAQ:GK) last announced its quarterly earnings data on Tuesday, August 16th. The company reported $1.00 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.95 by $0.05. G&K Services had a net margin of 7.38% and a return on equity of 18.89%. The company had revenue of $258.50 million for the quarter, compared to the consensus estimate of $257.80 million. During the same period in the prior year, the firm posted $0.83 EPS. G&K Services’s revenue for the quarter was up 9.3% on a year-over-year basis. Equities analysts anticipate that G&K Services Inc. will post $3.89 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 23rd. Investors of record on Thursday, September 8th will be given a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a yield of 1.62%. This is an increase from G&K Services’s previous quarterly dividend of $0.37. The ex-dividend date is Tuesday, September 6th. G&K Services’s dividend payout ratio is 43.21%.

Hedge funds have recently made changes to their positions in the stock. Pioneer Investment Management Inc. increased its stake in shares of G&K Services by 0.5% in the fourth quarter. Pioneer Investment Management Inc. now owns 393,424 shares of the company’s stock valued at $24,747,000 after buying an additional 1,918 shares during the period. Norges Bank purchased a new stake in shares of G&K Services during the fourth quarter valued at approximately $13,397,000. Aperio Group LLC purchased a new stake in shares of G&K Services during the first quarter valued at approximately $336,000. Mondrian Investment Partners LTD increased its stake in shares of G&K Services by 8,144.9% in the first quarter. Mondrian Investment Partners LTD now owns 35,783 shares of the company’s stock valued at $2,621,000 after buying an additional 35,349 shares during the period. Finally, TIAA CREF Investment Management LLC increased its stake in shares of G&K Services by 4.9% in the first quarter. TIAA CREF Investment Management LLC now owns 81,384 shares of the company’s stock valued at $5,961,000 after buying an additional 3,792 shares during the period. 94.75% of the stock is currently owned by institutional investors.

Several equities analysts have recently weighed in on the stock. Zacks Investment Research downgraded shares of G&K Services from a “hold” rating to a “sell” rating in a research note on Tuesday, June 28th. JPMorgan Chase & Co. downgraded shares of G&K Services from an “overweight” rating to a “neutral” rating and set a $97.00 target price for the company. in a research note on Thursday, August 18th. Sidoti downgraded shares of G&K Services from a “buy” rating to a “neutral” rating in a research note on Monday, June 6th. Finally, Robert W. Baird upgraded shares of G&K Services from a “neutral” rating to an “outperform” rating and set a $111.00 target price for the company in a research note on Wednesday, August 17th. Four investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company. G&K Services currently has a consensus rating of “Hold” and an average price target of $94.67.

About G&K Services

G&K Services, Inc is a service-focused market leader of branded uniform and facility services programs. The Company’s facility products and services include floor mats, towels, mops and restroom hygiene products. The Company serves customers in industries including automotive, warehousing, distribution, transportation, energy, manufacturing, food processing, pharmaceutical, retail, restaurants, hospitality, government, healthcare and others.

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