Geode Capital Management LLC Reduces Position in Aaron's, Inc. (AAN)

Geode Capital Management LLC lowered its holdings in shares of Aaron's, Inc. (NYSE:AAN) by 2.3% during the 4th quarter, HoldingsChannel reports. The fund owned 670,095 shares of the company’s stock after selling 15,884 shares during the period. Geode Capital Management LLC’s holdings in Aaron's were worth $26,703,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of the stock. Nationwide Fund Advisors lifted its stake in shares of Aaron's by 32.9% in the third quarter. Nationwide Fund Advisors now owns 204,188 shares of the company’s stock worth $8,909,000 after buying an additional 50,561 shares in the last quarter. Russell Investments Group Ltd. lifted its stake in shares of Aaron's by 74.9% in the third quarter. Russell Investments Group Ltd. now owns 434,346 shares of the company’s stock worth $18,949,000 after buying an additional 185,958 shares in the last quarter. Quantbot Technologies LP bought a new position in shares of Aaron's in the third quarter worth approximately $273,000. Ameriprise Financial Inc. lifted its stake in shares of Aaron's by 3.8% in the third quarter. Ameriprise Financial Inc. now owns 1,337,860 shares of the company’s stock worth $58,371,000 after buying an additional 49,360 shares in the last quarter. Finally, Macquarie Group Ltd. bought a new position in shares of Aaron's in the third quarter worth approximately $777,000.

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Several research analysts have recently issued reports on AAN shares. Zacks Investment Research upgraded shares of Aaron's from a “sell” rating to a “hold” rating in a research note on Thursday, December 28th. Jefferies Group reiterated a “buy” rating and issued a $54.00 target price on shares of Aaron's in a research note on Tuesday, December 26th. Stephens reiterated a “buy” rating and issued a $61.00 target price on shares of Aaron's in a research note on Wednesday, January 3rd. KeyCorp upped their target price on shares of Aaron's from $50.00 to $54.00 and gave the stock an “overweight” rating in a research note on Friday, February 16th. Finally, Sidoti upgraded shares of Aaron's from a “neutral” rating to a “buy” rating and set a $45.00 target price on the stock in a research note on Wednesday, November 29th. One research analyst has rated the stock with a sell rating, four have issued a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $46.36.

In related news, insider Robert P. Sinclair, Jr. sold 1,000 shares of the stock in a transaction that occurred on Tuesday, March 6th. The shares were sold at an average price of $48.00, for a total transaction of $48,000.00. Following the transaction, the insider now owns 13,163 shares in the company, valued at $631,824. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Robert H. Yanker sold 40,195 shares of the stock in a transaction that occurred on Wednesday, March 7th. The shares were sold at an average price of $47.69, for a total transaction of $1,916,899.55. Following the transaction, the director now owns 8,038 shares in the company, valued at approximately $383,332.22. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 42,647 shares of company stock worth $2,033,048. 1.93% of the stock is owned by insiders.

Aaron's, Inc. (AAN) opened at $45.30 on Monday. The firm has a market cap of $3,174.49, a P/E ratio of 17.69 and a beta of 0.07. Aaron's, Inc. has a 52-week low of $28.12 and a 52-week high of $49.77. The company has a current ratio of 2.73, a quick ratio of 0.80 and a debt-to-equity ratio of 0.21.

Aaron's (NYSE:AAN) last issued its quarterly earnings data on Thursday, February 15th. The company reported $0.65 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.55 by $0.10. The company had revenue of $884.60 million for the quarter, compared to the consensus estimate of $871.07 million. Aaron's had a net margin of 8.65% and a return on equity of 11.64%. The firm’s revenue for the quarter was up 11.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.50 earnings per share. equities analysts expect that Aaron's, Inc. will post 3.41 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 2nd. Investors of record on Friday, March 23rd will be given a dividend of $0.03 per share. The ex-dividend date of this dividend is Thursday, March 22nd. This represents a $0.12 dividend on an annualized basis and a yield of 0.26%. Aaron's’s dividend payout ratio (DPR) is 2.96%.

Aaron's declared that its Board of Directors has authorized a share buyback plan on Thursday, February 15th that authorizes the company to buyback $500.00 million in outstanding shares. This buyback authorization authorizes the company to buy shares of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s leadership believes its shares are undervalued.

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Aaron's Profile

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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Institutional Ownership by Quarter for Aaron's (NYSE:AAN)

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