G & K Services Inc. Shs -A- (NYSE:GK) CFO Jeffrey Wright unloaded 9,501 shares of the stock on the open market in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $60.15, for a total value of $571,485.15. Following the transaction, the chief financial officer now directly owns 62,078 shares of the company’s stock, valued at approximately $3,733,992. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.
Separately, analysts at Sidoti downgraded shares of G & K Services Inc. Shs -A- from a “buy” rating to a “neutral” rating in a research note to investors on Monday, October 7th.
G & K Services Inc. Shs -A- (NYSE:GK) opened at 59.96 on Tuesday. G & K Services Inc. Shs -A- has a one year low of $29.80 and a one year high of $64.48. The stock’s 50-day moving average is $60.31 and its 200-day moving average is $53.71. The company has a market cap of $1.188 billion and a price-to-earnings ratio of 24.45.
G & K Services Inc. Shs -A- (NYSE:GK) last issued its quarterly earnings data on Tuesday, October 29th. The company reported $0.67 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.66 by $0.01. The company had revenue of $229.30 million for the quarter, compared to the consensus estimate of $230.92 million. The company’s revenue for the quarter was up 3.1% on a year-over-year basis.
The company also recently declared a quarterly dividend, which is scheduled for Friday, December 20th. Stockholders of record on Wednesday, December 4th will be given a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a yield of 1.80%. The ex-dividend date of this dividend is Monday, December 2nd.
G&K Services, Inc, provides branded uniform and facility services programs. The Company serves a base of approximately 165,000 customers.
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