Shine Investment Advisory Services Inc. bought a new position in shares of UniFirst Corp (NYSE:UNF) in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund bought 363 shares of the textile maker’s stock, valued at approximately $68,000.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Ellis Investment Partners LLC acquired a new position in UniFirst during the 1st quarter worth $36,000. Harel Insurance Investments & Financial Services Ltd. acquired a new position in UniFirst during the 2nd quarter worth $57,000. Marshall Wace North America L.P. grew its stake in UniFirst by 17.4% during the 1st quarter. Marshall Wace North America L.P. now owns 473 shares of the textile maker’s stock worth $73,000 after purchasing an additional 70 shares in the last quarter. Cambridge Trust Co. acquired a new position in UniFirst during the 1st quarter worth $203,000. Finally, CHICAGO TRUST Co NA acquired a new position in UniFirst during the 2nd quarter worth $207,000. 77.87% of the stock is owned by hedge funds and other institutional investors.
Several research firms have recently issued reports on UNF. ValuEngine raised UniFirst from a “hold” rating to a “buy” rating in a research report on Thursday, June 27th. JPMorgan Chase & Co. upped their price objective on UniFirst from $155.00 to $183.00 and gave the stock a “neutral” rating in a research report on Thursday, June 27th. Finally, Zacks Investment Research raised UniFirst from a “hold” rating to a “strong-buy” rating and set a $213.00 price objective for the company in a research report on Saturday, June 29th.
Shares of NYSE:UNF traded down $2.35 on Wednesday, hitting $192.29. 2,289 shares of the company’s stock were exchanged, compared to its average volume of 117,928. The stock’s 50-day moving average is $186.79. The stock has a market capitalization of $3.71 billion, a P/E ratio of 25.83 and a beta of 0.72. UniFirst Corp has a 1-year low of $132.38 and a 1-year high of $201.19.
UniFirst (NYSE:UNF) last released its quarterly earnings data on Wednesday, June 26th. The textile maker reported $2.46 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.70 by $0.76. The business had revenue of $453.72 million during the quarter, compared to analysts’ expectations of $441.70 million. UniFirst had a return on equity of 9.67% and a net margin of 9.21%. The business’s quarterly revenue was up 6.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.85 EPS. On average, sell-side analysts predict that UniFirst Corp will post 7.66 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Friday, September 6th will be given a dividend of $0.1125 per share. The ex-dividend date of this dividend is Thursday, September 5th. This represents a $0.45 annualized dividend and a dividend yield of 0.23%. UniFirst’s dividend payout ratio is currently 6.04%.
In other news, VP David A. Difillippo sold 883 shares of the company’s stock in a transaction dated Thursday, May 30th. The stock was sold at an average price of $157.85, for a total transaction of $139,381.55. Following the completion of the transaction, the vice president now directly owns 11,162 shares of the company’s stock, valued at approximately $1,761,921.70. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 1.00% of the company’s stock.
UniFirst Corporation provides workplace uniforms and protective work wear clothing in the United States, Europe, and Canada. The company operates through U.S. Rental and Cleaning, Canadian Rental and Cleaning, Manufacturing, Specialty Garments Rental and Cleaning, and First Aid segments. It designs, manufactures, personalizes, rents, cleans, delivers, and sells a range of uniforms and protective clothing, including shirts, pants, jackets, coveralls, lab coats, smocks, and aprons; and specialized protective wear, such as flame resistant and high visibility garments.
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