Wellington Management Group LLP purchased a new position in Aaron’s, Inc. (NYSE:AAN) during the first quarter, Holdings Channel reports. The fund purchased 23,122 shares of the company’s stock, valued at approximately $688,000.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in AAN. Principal Financial Group Inc. boosted its position in Aaron’s, by 2.0% in the first quarter. Principal Financial Group Inc. now owns 279,949 shares of the company’s stock worth $8,325,000 after buying an additional 5,543 shares during the period. OppenheimerFunds Inc. boosted its position in Aaron’s, by 38.1% in the first quarter. OppenheimerFunds Inc. now owns 28,123 shares of the company’s stock worth $836,000 after buying an additional 7,752 shares during the period. United Services Automobile Association purchased a new position in Aaron’s, during the first quarter worth approximately $493,000. Credit Agricole S A boosted its position in Aaron’s, by 10.6% in the first quarter. Credit Agricole S A now owns 10,443 shares of the company’s stock worth $311,000 after buying an additional 1,005 shares during the period. Finally, AXA purchased a new position in Aaron’s, during the first quarter worth approximately $5,422,000. Institutional investors own 99.83% of the company’s stock.
Shares of Aaron’s, Inc. (NYSE AAN) opened at 39.70 on Tuesday. The stock has a 50 day moving average price of $38.89 and a 200 day moving average price of $33.21. Aaron’s, Inc. has a 52 week low of $21.50 and a 52 week high of $40.59. The firm has a market capitalization of $2.81 billion, a PE ratio of 20.18 and a beta of 0.14.
Aaron’s, (NYSE:AAN) last issued its quarterly earnings data on Friday, April 28th. The company reported $0.80 EPS for the quarter, topping analysts’ consensus estimates of $0.66 by $0.14. Aaron’s, had a net margin of 4.47% and a return on equity of 11.81%. The firm had revenue of $844.60 million for the quarter, compared to analyst estimates of $830.44 million. During the same quarter in the previous year, the business posted $0.71 EPS. The firm’s revenue was down 1.1% compared to the same quarter last year. Equities analysts forecast that Aaron’s, Inc. will post $2.40 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Monday, July 3rd. Shareholders of record on Tuesday, June 27th were issued a $0.0275 dividend. The ex-dividend date was Friday, June 23rd. This represents a $0.11 dividend on an annualized basis and a yield of 0.28%. Aaron’s, ‘s dividend payout ratio is currently 5.58%.
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A number of research firms have commented on AAN. BidaskClub cut Aaron’s, from a “strong-buy” rating to a “buy” rating in a research note on Friday, July 7th. Zacks Investment Research upgraded Aaron’s, from a “hold” rating to a “strong-buy” rating and set a $42.00 price target on the stock in a research note on Tuesday, May 2nd. Jefferies Group LLC increased their price objective on Aaron’s, from $34.00 to $42.00 and gave the company a “buy” rating in a research note on Monday, May 1st. TheStreet upgraded Aaron’s, from a “c+” rating to a “b-” rating in a research note on Monday, April 24th. Finally, Loop Capital reiterated a “hold” rating and issued a $28.00 price objective on shares of Aaron’s, in a research note on Sunday, April 23rd. Three investment analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $38.00.
In other Aaron’s, news, CEO John W. Robinson sold 15,000 shares of the company’s stock in a transaction dated Tuesday, May 2nd. The shares were sold at an average price of $36.80, for a total value of $552,000.00. Following the completion of the transaction, the chief executive officer now owns 363,440 shares in the company, valued at approximately $13,374,592. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CAO Robert W. Kamerschen sold 5,000 shares of the company’s stock in a transaction dated Wednesday, May 3rd. The stock was sold at an average price of $37.39, for a total transaction of $186,950.00. Following the completion of the transaction, the chief accounting officer now owns 31,999 shares of the company’s stock, valued at approximately $1,196,442.61. The disclosure for this sale can be found here. Insiders own 1.93% of the company’s stock.
Aaron’s, Company 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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