UniFirst Corporation $UNF Shares Sold by Copeland Capital Management LLC

Copeland Capital Management LLC cut its holdings in UniFirst Corporation (NYSE:UNF) by 5.3% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 295,381 shares of the textile maker’s stock after selling 16,615 shares during the period. UniFirst comprises approximately 1.3% of Copeland Capital Management LLC’s holdings, making the stock its 27th biggest position. Copeland Capital Management LLC’s holdings in UniFirst were worth $56,979,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of UNF. Geneos Wealth Management Inc. boosted its stake in UniFirst by 474.1% during the 1st quarter. Geneos Wealth Management Inc. now owns 155 shares of the textile maker’s stock valued at $27,000 after purchasing an additional 128 shares during the period. EverSource Wealth Advisors LLC boosted its stake in UniFirst by 378.1% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 153 shares of the textile maker’s stock valued at $29,000 after purchasing an additional 121 shares during the period. Danske Bank A S acquired a new position in UniFirst during the 3rd quarter valued at about $33,000. Cornerstone Planning Group LLC acquired a new position in UniFirst during the 3rd quarter valued at about $36,000. Finally, Brown Brothers Harriman & Co. boosted its stake in UniFirst by 1,244.0% during the 3rd quarter. Brown Brothers Harriman & Co. now owns 336 shares of the textile maker’s stock valued at $56,000 after purchasing an additional 311 shares during the period. 78.17% of the stock is owned by institutional investors and hedge funds.

Insider Activity at UniFirst

In other UniFirst news, VP David Martin Katz sold 1,464 shares of the business’s stock in a transaction dated Tuesday, February 17th. The shares were sold at an average price of $237.54, for a total transaction of $347,758.56. Following the sale, the vice president directly owned 6,461 shares in the company, valued at approximately $1,534,745.94. The trade was a 18.47% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.86% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on UNF shares. UBS Group boosted their target price on shares of UniFirst from $206.00 to $260.00 and gave the company a “neutral” rating in a research note on Thursday, April 2nd. Weiss Ratings reissued a “hold (c)” rating on shares of UniFirst in a research note on Wednesday, January 21st. Barclays boosted their target price on shares of UniFirst from $250.00 to $280.00 and gave the company an “equal weight” rating in a research note on Thursday, March 12th. Finally, Robert W. Baird set a $198.00 target price on shares of UniFirst in a research note on Thursday, January 8th. Four equities research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Reduce” and an average price target of $228.25.

UniFirst Trading Up 0.7%

UNF stock opened at $261.73 on Friday. UniFirst Corporation has a 52 week low of $147.66 and a 52 week high of $283.77. The company has a market capitalization of $4.73 billion, a price-to-earnings ratio of 35.46 and a beta of 0.66. The firm’s 50-day moving average is $253.90 and its two-hundred day moving average is $206.94.

UniFirst (NYSE:UNF) last released its quarterly earnings results on Wednesday, April 1st. The textile maker reported $1.13 EPS for the quarter, missing analysts’ consensus estimates of $1.21 by ($0.08). UniFirst had a return on equity of 6.49% and a net margin of 5.49%.The company had revenue of $622.51 million for the quarter, compared to the consensus estimate of $614.91 million. During the same quarter last year, the firm posted $1.31 earnings per share. The firm’s quarterly revenue was up 3.4% compared to the same quarter last year. On average, equities research analysts predict that UniFirst Corporation will post 7.21 earnings per share for the current year.

UniFirst Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 26th. Shareholders of record on Friday, June 5th will be given a dividend of $0.365 per share. This represents a $1.46 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date is Friday, June 5th. UniFirst’s payout ratio is 19.78%.

About UniFirst

UniFirst Corporation (NYSE: UNF) is a leading provider of customized uniform rental and facility service programs in North America and Europe. The company specializes in the rental, laundering and maintenance of workwear, corporate apparel and protective garments for a broad range of industries, including manufacturing, automotive, hospitality, healthcare and food processing. UniFirst also offers a suite of facility service products such as entrance mats, restroom supplies, wipers, mops and hygienic services designed to help customers maintain clean and safe environments.

In addition to its core uniform rental business, UniFirst has expanded its product portfolio to include safety and first-responder gear, flame-resistant clothing, high-visibility apparel and personal protective equipment (PPE).