Bank of New York Mellon Corp Has $3.50 Million Holdings in The Aaron’s Company, Inc. (NYSE:AAN)

Bank of New York Mellon Corp raised its holdings in The Aaron’s Company, Inc. (NYSE:AAN) by 5.4% in the second quarter, Holdings Channel reports. The fund owned 350,857 shares of the company’s stock after acquiring an additional 18,035 shares during the period. Bank of New York Mellon Corp’s holdings in Aaron’s were worth $3,502,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Charles Schwab Investment Management Inc. increased its stake in Aaron’s by 10.2% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,005,375 shares of the company’s stock worth $10,938,000 after purchasing an additional 93,207 shares in the last quarter. Massachusetts Financial Services Co. MA acquired a new stake in shares of Aaron’s during the fourth quarter worth $335,000. First Eagle Investment Management LLC acquired a new position in Aaron’s in the 4th quarter worth $1,879,000. Verity Asset Management Inc. bought a new position in Aaron’s during the 4th quarter worth about $185,000. Finally, Dynamic Technology Lab Private Ltd acquired a new stake in shares of Aaron’s in the 4th quarter valued at about $147,000. 91.99% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

AAN has been the subject of a number of research reports. BTIG Research assumed coverage on Aaron’s in a report on Friday, June 7th. They set a “neutral” rating for the company. Jefferies Financial Group reiterated a “hold” rating and issued a $10.10 price objective (down from $11.00) on shares of Aaron’s in a report on Wednesday, July 10th. Loop Capital raised their target price on shares of Aaron’s from $8.00 to $10.00 and gave the company a “hold” rating in a research report on Tuesday, June 18th. Truist Financial lifted their price target on shares of Aaron’s from $8.00 to $10.10 and gave the company a “hold” rating in a research note on Tuesday, June 18th. Finally, TD Cowen increased their price objective on shares of Aaron’s from $8.00 to $10.10 and gave the stock a “hold” rating in a research note on Monday, June 17th. Seven research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $9.46.

Aaron’s Stock Performance

Shares of AAN stock opened at $10.04 on Friday. The company has a fifty day moving average price of $10.02 and a two-hundred day moving average price of $8.59. The Aaron’s Company, Inc. has a one year low of $6.62 and a one year high of $11.90. The stock has a market cap of $316.46 million, a P/E ratio of -12.71 and a beta of 1.43. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.02 and a quick ratio of 0.70.

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

Aaron’s Announces Dividend

The firm also recently declared 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. This represents a $0.50 annualized dividend and a yield of 4.98%. The ex-dividend date is Friday, September 13th. Aaron’s’s dividend payout ratio is -63.29%.

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.