Dimensional Fund Advisors LP Sells 64,232 Shares of Aaron’s, Inc. (AAN)
Dimensional Fund Advisors LP lessened its stake in shares of Aaron’s, Inc. (NYSE:AAN) by 1.1% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,972,855 shares of the company’s stock after selling 64,232 shares during the quarter. Dimensional Fund Advisors LP owned approximately 8.44% of Aaron’s worth $260,595,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors also recently bought and sold shares of the stock. BlackRock Inc. increased its position in Aaron’s by 4.3% during the 2nd quarter. BlackRock Inc. now owns 7,237,539 shares of the company’s stock worth $281,540,000 after purchasing an additional 298,839 shares in the last quarter. Vanguard Group Inc. increased its position in Aaron’s by 0.4% during the 2nd quarter. Vanguard Group Inc. now owns 6,320,969 shares of the company’s stock worth $245,885,000 after purchasing an additional 22,626 shares in the last quarter. State Street Corp increased its position in Aaron’s by 6.8% during the 2nd quarter. State Street Corp now owns 2,235,516 shares of the company’s stock worth $86,967,000 after purchasing an additional 142,599 shares in the last quarter. Northern Trust Corp increased its position in Aaron’s by 6.2% during the 2nd quarter. Northern Trust Corp now owns 1,574,361 shares of the company’s stock worth $61,243,000 after purchasing an additional 91,801 shares in the last quarter. Finally, AJO LP increased its position in Aaron’s by 267.0% during the 2nd quarter. AJO LP now owns 1,468,601 shares of the company’s stock worth $57,129,000 after purchasing an additional 1,068,399 shares in the last quarter. Hedge funds and other institutional investors own 99.85% of the company’s stock.
AAN has been the subject of several recent analyst reports. Zacks Investment Research cut Aaron’s from a “hold” rating to a “sell” rating in a report on Tuesday, October 10th. Raymond James Financial upgraded Aaron’s from a “market perform” rating to a “strong-buy” rating and set a $14.00 price target for the company in a report on Friday, November 10th. Jefferies Group restated a “buy” rating and issued a $54.00 price target on shares of Aaron’s in a report on Thursday, August 31st. Loop Capital upgraded Aaron’s from a “hold” rating to a “buy” rating and set a $42.00 price target for the company in a report on Wednesday, November 8th. Finally, KeyCorp upgraded Aaron’s from a “sector weight” rating to an “overweight” rating and set a $50.00 price target for the company in a report on Thursday, September 28th. Two investment analysts have rated the stock with a sell rating, one has given a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $43.30.
In other news, CFO Steven A. Michaels sold 4,000 shares of Aaron’s stock in a transaction dated Tuesday, October 31st. The stock was sold at an average price of $37.15, for a total value of $148,600.00. Following the transaction, the chief financial officer now directly owns 56,769 shares of the company’s stock, valued at approximately $2,108,968.35. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO John W. Robinson sold 15,000 shares of Aaron’s stock in a transaction dated Tuesday, October 31st. The shares were sold at an average price of $36.24, for a total value of $543,600.00. Following the completion of the transaction, the chief executive officer now directly owns 337,340 shares in the company, valued at $12,225,201.60. The disclosure for this sale can be found here. Over the last ninety days, insiders bought 1,361,000 shares of company stock worth $62,450 and sold 19,003 shares worth $692,308. Insiders own 1.93% of the company’s stock.
Aaron’s, Inc. (AAN) opened at $38.98 on Friday. The firm has a market capitalization of $2,758.26, a PE ratio of 16.17 and a beta of 0.23. Aaron’s, Inc. has a 52 week low of $26.12 and a 52 week high of $48.22. The company has a quick ratio of 0.74, a current ratio of 2.35 and a debt-to-equity ratio of 0.24.
Aaron’s (NYSE:AAN) last released its quarterly earnings data on Friday, October 27th. The company reported $0.43 earnings per share for the quarter, missing the consensus estimate of $0.54 by ($0.11). The firm had revenue of $838.80 million during the quarter, compared to analyst estimates of $827.20 million. Aaron’s had a net margin of 4.15% and a return on equity of 11.41%. The business’s revenue for the quarter was up 9.1% on a year-over-year basis. During the same period in the prior year, the firm earned $0.50 earnings per share. sell-side analysts anticipate that Aaron’s, Inc. will post 2.47 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 2nd. Stockholders of record on Wednesday, December 13th will be paid a $0.03 dividend. This is a positive change from Aaron’s’s previous quarterly dividend of $0.03. This represents a $0.12 annualized dividend and a dividend yield of 0.31%. The ex-dividend date is Tuesday, December 12th. Aaron’s’s payout ratio is currently 5.79%.
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Aaron’s, Inc (Aaron’s) is an omnichannel provider of lease-purchase solutions. The Company engages in the sales and lease ownership and specialty retailing of furniture, consumer electronics, home appliances and accessories through its Company-operated and franchised stores in Canada, as well as its e-commerce platform, Aarons.com.
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