American Century Companies Inc. Raises Stock Position in The Aaron’s Company, Inc. (NYSE:AAN)

American Century Companies Inc. boosted its position in The Aaron’s Company, Inc. (NYSE:AAN) by 12.1% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 759,972 shares of the company’s stock after purchasing an additional 81,910 shares during the quarter. American Century Companies Inc. owned about 2.41% of Aaron’s worth $7,585,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently bought and sold shares of AAN. Charles Schwab Investment Management Inc. raised its position in shares of Aaron’s by 10.2% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,005,375 shares of the company’s stock worth $10,938,000 after buying an additional 93,207 shares in the last quarter. Acadian Asset Management LLC boosted its position in shares of Aaron’s by 25.5% during the 1st quarter. Acadian Asset Management LLC now owns 807,933 shares of the company’s stock valued at $6,056,000 after acquiring an additional 164,392 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in shares of Aaron’s by 5.4% during the second quarter. Bank of New York Mellon Corp now owns 350,857 shares of the company’s stock worth $3,502,000 after purchasing an additional 18,035 shares in the last quarter. Clark Estates Inc. NY increased its position in shares of Aaron’s by 13.4% in the fourth quarter. Clark Estates Inc. NY now owns 259,000 shares of the company’s stock worth $2,818,000 after purchasing an additional 30,700 shares during the last quarter. Finally, Acuitas Investments LLC purchased a new stake in Aaron’s in the second quarter valued at approximately $2,244,000. 91.99% of the stock is owned by institutional investors.

Aaron’s Price Performance

AAN stock opened at $10.05 on Tuesday. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.70 and a current ratio of 1.02. The firm has a 50 day moving average price of $10.03 and a 200-day moving average price of $8.70. The Aaron’s Company, Inc. has a 52-week low of $6.62 and a 52-week high of $11.90. The firm has a market capitalization of $316.64 million, a price-to-earnings ratio of -12.72 and a beta of 1.43.

Aaron’s (NYSE:AAN) last released its quarterly earnings data on Monday, August 5th. The company reported ($0.07) earnings per share for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.10). The firm had revenue of $503.10 million for the quarter, compared to the consensus estimate of $513.91 million. Aaron’s had a negative net margin of 2.06% and a negative return on equity of 2.08%. The firm’s revenue for the quarter was down 5.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.39 earnings per share. Equities research analysts forecast that The Aaron’s Company, Inc. will post -0.01 EPS for the current fiscal year.

Aaron’s Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 3rd. Shareholders of record on Friday, September 13th will be issued a dividend of $0.125 per share. The ex-dividend date is Friday, September 13th. This represents a $0.50 dividend on an annualized basis and a yield of 4.98%. Aaron’s’s dividend payout ratio is currently -63.29%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. StockNews.com started coverage on shares of Aaron’s in a report on Monday. They issued a “hold” rating on the stock. BTIG Research assumed coverage on Aaron’s in a research note on Friday, June 7th. They set a “neutral” rating for the company. Truist Financial increased their price objective on Aaron’s from $8.00 to $10.10 and gave the company a “hold” rating in a research report on Tuesday, June 18th. Loop Capital boosted their target price on Aaron’s from $8.00 to $10.00 and gave the stock a “hold” rating in a research report on Tuesday, June 18th. Finally, TD Cowen increased their price target on shares of Aaron’s from $8.00 to $10.10 and gave the company a “hold” rating in a research report on Monday, June 17th. Seven equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $9.46.

Aaron’s Company Profile

Headquartered in Atlanta, The Aaron’s Company, Inc (NYSE: AAN) is a leading, technology-enabled, omnichannel provider of lease-purchase solutions. Aaron’s engages in direct-to-consumer sales and lease ownership of furniture, appliances, consumer electronics and accessories through its approximately 1,300 company-operated and franchised stores in 47 states and Canada, as well as its e-commerce platform, Aarons.com.