California State Teachers Retirement System decreased its position in Aaron’s, Inc. (NYSE:AAN) by 9.6% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 101,545 shares of the company’s stock after selling 10,775 shares during the quarter. California State Teachers Retirement System owned approximately 0.14% of Aaron’s worth $4,430,000 as of its most recent SEC filing.
Several other large investors have also recently added to or reduced their stakes in AAN. AJO LP raised its position in shares of Aaron’s by 267.0% in the second 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. Principal Financial Group Inc. increased its position in Aaron’s by 223.7% during the second quarter. Principal Financial Group Inc. now owns 906,077 shares of the company’s stock worth $35,246,000 after acquiring an additional 626,128 shares during the period. Balyasny Asset Management LLC increased its position in Aaron’s by 5,204.8% during the second quarter. Balyasny Asset Management LLC now owns 468,257 shares of the company’s stock worth $18,215,000 after acquiring an additional 459,430 shares during the period. BlackRock Inc. increased its position in Aaron’s by 4.3% during the second quarter. BlackRock Inc. now owns 7,237,539 shares of the company’s stock worth $281,540,000 after acquiring an additional 298,839 shares during the period. Finally, American Century Companies Inc. increased its position in Aaron’s by 206.0% during the third quarter. American Century Companies Inc. now owns 434,161 shares of the company’s stock worth $18,942,000 after acquiring an additional 292,286 shares during the period.
In other news, CFO Steven A. Michaels sold 4,000 shares of the business’s stock in a transaction on Tuesday, October 31st. The shares were sold at an average price of $37.15, for a total value of $148,600.00. Following the sale, the chief financial officer now owns 56,769 shares in the company, valued at approximately $2,108,968.35. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO John W. Robinson sold 15,000 shares of the business’s stock in a transaction on Tuesday, October 31st. The shares were sold at an average price of $36.24, for a total transaction of $543,600.00. Following the completion of the sale, the chief executive officer now owns 337,340 shares in the company, valued at approximately $12,225,201.60. The disclosure for this sale can be found here. Insiders have sold 19,003 shares of company stock worth $692,308 in the last quarter. 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 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.54 by ($0.11). Aaron’s had a return on equity of 11.41% and a net margin of 4.15%. The business had revenue of $838.80 million for the quarter, compared to analyst estimates of $827.20 million. During the same quarter in the prior year, the firm earned $0.50 EPS. The firm’s quarterly revenue was up 9.1% on a year-over-year basis. equities analysts forecast that Aaron’s, Inc. will post 2.46 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, January 2nd. Shareholders of record on Wednesday, December 13th were paid a dividend of $0.03 per share. The ex-dividend date was Tuesday, December 12th. This represents a $0.12 dividend on an annualized basis and a yield of 0.30%. This is an increase from Aaron’s’s previous quarterly dividend of $0.03. Aaron’s’s payout ratio is currently 6.35%.
AAN has been the topic of a number of research reports. Off Wall Street initiated coverage on shares of Aaron’s in a research report on Monday, September 18th. They set a “sell” rating on the stock. Stephens reaffirmed a “buy” rating and set a $61.00 target price on shares of Aaron’s in a research report on Wednesday. Raymond James Financial raised shares of Aaron’s from a “market perform” rating to a “strong-buy” rating and set a $14.00 target price on the stock in a research report on Friday, November 10th. Zacks Investment Research raised shares of Aaron’s from a “sell” rating to a “hold” rating in a research report on Thursday, December 28th. Finally, Janney Montgomery Scott started coverage on shares of Aaron’s in a research report on Wednesday, October 18th. They set a “neutral” rating and a $42.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $45.30.
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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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