Wedge Capital Management L L P NC decreased its stake in shares of Aaron’s Inc. (NYSE:AAN) by 0.9% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 549,763 shares of the company’s stock after selling 5,027 shares during the period. Wedge Capital Management L L P NC’s holdings in Aaron’s were worth $12,034,000 as of its most recent filing with the SEC.
A number of other hedge funds have also made changes to their positions in AAN. Aperio Group LLC boosted its position in shares of Aaron’s by 43.6% in the first quarter. Aperio Group LLC now owns 84,212 shares of the company’s stock valued at $2,114,000 after buying an additional 25,560 shares during the period. TIAA CREF Investment Management LLC boosted its position in shares of Aaron’s by 9.3% in the first quarter. TIAA CREF Investment Management LLC now owns 413,311 shares of the company’s stock valued at $10,374,000 after buying an additional 35,339 shares during the period. Teachers Advisors Inc. boosted its position in shares of Aaron’s by 3.2% in the first quarter. Teachers Advisors Inc. now owns 56,992 shares of the company’s stock valued at $1,430,000 after buying an additional 1,778 shares during the period. Prudential Financial Inc. boosted its position in shares of Aaron’s by 98.5% in the first quarter. Prudential Financial Inc. now owns 199,081 shares of the company’s stock valued at $4,997,000 after buying an additional 98,800 shares during the period. Finally, JPMorgan Chase & Co. boosted its position in shares of 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. 91.99% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Aaron’s Inc. (NYSE:AAN) traded down 0.04% during trading on Friday, hitting $22.76. The company had a trading volume of 438,770 shares. The stock has a market cap of $1.66 billion, a PE ratio of 12.43 and a beta of 0.23. The firm has a 50 day moving average of $24.75 and a 200 day moving average of $24.50. Aaron’s Inc. has a 12-month low of $20.24 and a 12-month high of $38.85.
Aaron’s (NYSE:AAN) last released its quarterly earnings results on Friday, July 29th. The company reported $0.59 EPS for the quarter, topping the Zacks’ consensus estimate of $0.57 by $0.02. The business had revenue of $789.40 million for the quarter, compared to analyst estimates of $809.16 million. Aaron’s had a return on equity of 11.01% and a net margin of 4.15%. Aaron’s’s revenue for the quarter was up 2.7% on a year-over-year basis. During the same period in the prior year, the company earned $0.61 EPS. On average, analysts forecast that Aaron’s Inc. will post $2.26 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Monday, October 3rd. Shareholders of record on Friday, September 2nd were issued a dividend of $0.025 per share. This represents a $0.10 annualized dividend and a yield of 0.44%. The ex-dividend date of this dividend was Wednesday, August 31st. Aaron’s’s dividend payout ratio is 5.43%.
AAN has been the topic of several research analyst reports. TheStreet upgraded Aaron’s from a “hold” rating to a “buy” rating in a research report on Thursday, September 1st. Jefferies Group initiated coverage on Aaron’s in a research report on Thursday. They set a “buy” rating and a $30.00 price target on the stock. Finally, Zacks Investment Research upgraded Aaron’s from a “sell” rating to a “hold” rating in a research report on Tuesday, October 4th. Three research analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $29.93.
In other news, Director Robert H. Yanker acquired 40,000 shares of Aaron’s stock in a transaction on Friday, August 19th. The shares were purchased at an average price of $25.29 per share, with a total value of $1,011,600.00. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 1.12% of the company’s stock.
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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