TimesSquare Capital Management LLC Lowers Stake in UniFirst Corporation $UNF

TimesSquare Capital Management LLC lowered its stake in shares of UniFirst Corporation (NYSE:UNF) by 8.6% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 99,338 shares of the textile maker’s stock after selling 9,382 shares during the period. TimesSquare Capital Management LLC owned approximately 0.55% of UniFirst worth $19,162,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in UNF. Geneos Wealth Management Inc. boosted its position in shares of UniFirst by 474.1% during the 1st quarter. Geneos Wealth Management Inc. now owns 155 shares of the textile maker’s stock worth $27,000 after purchasing an additional 128 shares during the period. EverSource Wealth Advisors LLC boosted its position in shares of UniFirst by 378.1% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 153 shares of the textile maker’s stock worth $29,000 after purchasing an additional 121 shares during the period. Danske Bank A S purchased a new position in shares of UniFirst during the 3rd quarter worth approximately $33,000. Cornerstone Planning Group LLC purchased a new position in shares of UniFirst during the 3rd quarter worth approximately $36,000. Finally, Brown Brothers Harriman & Co. boosted its position in UniFirst by 1,244.0% in the 3rd quarter. Brown Brothers Harriman & Co. now owns 336 shares of the textile maker’s stock valued at $56,000 after buying an additional 311 shares during the period. Hedge funds and other institutional investors own 78.17% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have commented on UNF shares. Weiss Ratings reissued a “hold (c)” rating on shares of UniFirst in a research report on Wednesday, January 21st. UBS Group raised their price target on shares of UniFirst from $206.00 to $260.00 and gave the company a “neutral” rating in a research report on Thursday, April 2nd. Finally, Barclays raised their price target on shares of UniFirst from $250.00 to $280.00 and gave the company an “equal weight” rating in a research report on Thursday, March 12th. Four equities research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Reduce” and an average price target of $228.25.

UniFirst Stock Down 0.6%

Shares of UNF stock opened at $264.16 on Wednesday. UniFirst Corporation has a 52 week low of $147.66 and a 52 week high of $283.77. The stock has a market capitalization of $4.78 billion, a PE ratio of 35.79 and a beta of 0.63. The firm has a 50 day moving average of $259.89 and a two-hundred day moving average of $218.22.

UniFirst (NYSE:UNF) last issued its quarterly earnings results on Wednesday, April 1st. The textile maker reported $1.13 EPS for the quarter, missing the consensus estimate of $1.21 by ($0.08). UniFirst had a net margin of 5.49% and a return on equity of 6.49%. The business had revenue of $622.51 million during the quarter, compared to analysts’ expectations of $614.91 million. During the same period in the prior year, the business earned $1.31 EPS. The business’s quarterly revenue was up 3.4% on a year-over-year basis. Analysts expect that UniFirst Corporation will post 7.21 EPS for the current fiscal year.

UniFirst Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 26th. Stockholders of record on Friday, June 5th will be issued a $0.365 dividend. 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 dividend payout ratio (DPR) is presently 19.78%.

UniFirst Company Profile

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).