Stephens Investment Management Group LLC grew its stake in Aaron’s, Inc. (NYSE:AAN) by 7.0% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,377,620 shares of the company’s stock after purchasing an additional 89,832 shares during the period. Aaron’s makes up about 1.6% of Stephens Investment Management Group LLC’s holdings, making the stock its 6th largest holding. Stephens Investment Management Group LLC owned approximately 2.04% of Aaron’s worth $84,600,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds also recently bought and sold shares of the company. SG Capital Management LLC purchased a new position in Aaron’s in the second quarter worth approximately $29,064,000. WINTON GROUP Ltd purchased a new position in Aaron’s in the second quarter worth approximately $11,168,000. Victory Capital Management Inc. purchased a new position in Aaron’s in the first quarter worth approximately $8,971,000. Geode Capital Management LLC grew its position in Aaron’s by 16.2% in the fourth quarter. Geode Capital Management LLC now owns 877,428 shares of the company’s stock worth $36,894,000 after acquiring an additional 122,334 shares during the period. Finally, Bank of Montreal Can grew its position in Aaron’s by 88.6% in the first quarter. Bank of Montreal Can now owns 191,594 shares of the company’s stock worth $10,077,000 after acquiring an additional 89,989 shares during the period. Institutional investors and hedge funds own 97.31% of the company’s stock.
AAN has been the topic of a number of research reports. Loop Capital upped their price target on Aaron’s to $70.00 and gave the stock a “buy” rating in a research note on Tuesday, July 16th. ValuEngine cut Aaron’s from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. Stephens set a $67.00 price target on Aaron’s and gave the stock a “buy” rating in a research note on Wednesday, June 12th. Raymond James set a $72.00 price target on Aaron’s and gave the stock a “buy” rating in a research note on Friday, July 26th. Finally, KeyCorp upped their price target on Aaron’s from $75.00 to $80.00 and gave the stock an “overweight” rating in a research note on Friday, July 26th. Two equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $68.50.
Aaron’s (NYSE:AAN) last released its quarterly earnings results on Thursday, July 25th. The company reported $0.93 EPS for the quarter, topping analysts’ consensus estimates of $0.88 by $0.05. Aaron’s had a return on equity of 14.48% and a net margin of 5.20%. The company had revenue of $968.14 million for the quarter, compared to analysts’ expectations of $966.50 million. During the same period in the prior year, the firm earned $0.84 earnings per share. The firm’s revenue was up 4.3% compared to the same quarter last year. As a group, analysts forecast that Aaron’s, Inc. will post 3.95 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 4th. Stockholders of record on Thursday, September 19th will be paid a $0.035 dividend. This represents a $0.14 annualized dividend and a dividend yield of 0.22%. The ex-dividend date of this dividend is Wednesday, September 18th. Aaron’s’s payout ratio is currently 4.17%.
In other news, insider Douglas A. Lindsay sold 2,500 shares of the stock in a transaction on Tuesday, July 30th. The stock was sold at an average price of $61.68, for a total value of $154,200.00. Following the sale, the insider now directly owns 46,068 shares in the company, valued at $2,841,474.24. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Robert W. Kamerschen sold 1,258 shares of the stock in a transaction on Tuesday, July 30th. The shares were sold at an average price of $62.00, for a total value of $77,996.00. Following the completion of the sale, the executive vice president now owns 32,844 shares in the company, valued at $2,036,328. The disclosure for this sale can be found here. Over the last quarter, insiders sold 34,758 shares of company stock worth $2,111,246. Insiders own 2.78% of the company’s stock.
Aaron's, Inc operates as an omnichannel provider of lease-purchase solutions to underserved and credit-challenged customers. It operates in three segments: Progressive Leasing, Aaron's Business, and DAMI. The company also engages in the sale, lease ownership, and specialty retailing of furniture, consumer electronics, home appliances, and accessories.
Further Reading: Options Trading – Understanding Strike Price
Want to see what other hedge funds are holding AAN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Aaron’s, Inc. (NYSE:AAN).
Receive News & Ratings for Aaron's Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Aaron's and related companies with MarketBeat.com's FREE daily email newsletter.