Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Aaron’s, Inc. (NYSE:AAN) by 156.5% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 6,795 shares of the company’s stock after purchasing an additional 4,146 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Aaron’s were worth $296,000 at the end of the most recent quarter.
Other hedge funds have also bought and sold shares of the company. BlackRock Inc. raised its stake in shares of Aaron’s by 4.3% in the 2nd quarter. BlackRock Inc. now owns 7,237,539 shares of the company’s stock worth $281,540,000 after buying an additional 298,839 shares in the last quarter. Vanguard Group Inc. boosted its stake in Aaron’s by 0.4% during the 2nd quarter. Vanguard Group Inc. now owns 6,320,969 shares of the company’s stock valued at $245,885,000 after purchasing an additional 22,626 shares during the period. State Street Corp boosted its stake in Aaron’s by 6.8% during the 2nd quarter. State Street Corp now owns 2,235,516 shares of the company’s stock valued at $86,967,000 after purchasing an additional 142,599 shares during the period. Northern Trust Corp boosted its stake in Aaron’s by 6.2% during the 2nd quarter. Northern Trust Corp now owns 1,574,361 shares of the company’s stock valued at $61,243,000 after purchasing an additional 91,801 shares during the period. Finally, AJO LP boosted its stake in Aaron’s by 267.0% during the 2nd quarter. AJO LP now owns 1,468,601 shares of the company’s stock valued at $57,129,000 after purchasing an additional 1,068,399 shares during the period. Institutional investors own 99.85% of the company’s stock.
In other news, CEO John W. Robinson sold 15,000 shares of the stock in a transaction that occurred on Tuesday, October 31st. The stock was 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 of the company’s stock, valued at approximately $12,225,201.60. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Steven A. Michaels sold 4,000 shares of the stock in a transaction that occurred on Tuesday, October 31st. The stock was sold at an average price of $37.15, for a total value of $148,600.00. Following the completion of the transaction, the chief financial officer now directly owns 56,769 shares of the company’s stock, valued at $2,108,968.35. The disclosure for this sale can be found here. In the last ninety days, insiders acquired 1,598,000 shares of company stock valued at $71,930 and sold 19,003 shares valued at $692,308. Corporate insiders own 1.93% of the company’s stock.
Aaron’s (NYSE:AAN) last posted its quarterly earnings results on Friday, October 27th. The company reported $0.43 EPS 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 company’s revenue was up 9.1% on a year-over-year basis. During the same period last year, the company earned $0.50 EPS. equities research analysts expect that Aaron’s, Inc. will post 2.47 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, January 2nd. Shareholders of record on Wednesday, December 13th will be issued a $0.03 dividend. This is a boost from Aaron’s’s previous quarterly dividend of $0.03. The ex-dividend date is Tuesday, December 12th. This represents a $0.12 annualized dividend and a yield of 0.32%. Aaron’s’s dividend payout ratio is 5.79%.
Several analysts recently weighed in on the company. Northcoast Research set a $53.00 target price on Aaron’s and gave the company a “buy” rating in a research note on Friday, December 1st. Stifel Nicolaus restated a “buy” rating and set a $55.00 target price on shares of Aaron’s in a research note on Friday, September 1st. Sidoti upgraded Aaron’s from a “neutral” rating to a “buy” rating and set a $45.00 target price for the company in a research note on Wednesday, November 29th. Zacks Investment Research downgraded Aaron’s from a “hold” rating to a “sell” rating in a research note on Tuesday, October 10th. Finally, Janney Montgomery Scott assumed coverage on Aaron’s in a research note on Wednesday, October 18th. They set a “neutral” rating and a $42.00 target price for the company. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $43.30.
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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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