TimesSquare Capital Management LLC trimmed its position in UniFirst Corporation (NYSE:UNF – Free Report) by 8.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 99,338 shares of the textile maker’s stock after selling 9,382 shares during the quarter. TimesSquare Capital Management LLC’s holdings in UniFirst were worth $19,162,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also modified their holdings of the company. Amalgamated Bank raised its holdings in shares of UniFirst by 1.7% in the 3rd quarter. Amalgamated Bank now owns 4,359 shares of the textile maker’s stock valued at $729,000 after purchasing an additional 74 shares in the last quarter. American Century Companies Inc. raised its holdings in shares of UniFirst by 2.0% in the 2nd quarter. American Century Companies Inc. now owns 4,027 shares of the textile maker’s stock valued at $758,000 after purchasing an additional 78 shares in the last quarter. Alliancebernstein L.P. raised its holdings in shares of UniFirst by 0.5% in the 3rd quarter. Alliancebernstein L.P. now owns 17,990 shares of the textile maker’s stock valued at $3,008,000 after purchasing an additional 82 shares in the last quarter. OLD National Bancorp IN raised its holdings in shares of UniFirst by 5.9% in the 4th quarter. OLD National Bancorp IN now owns 1,773 shares of the textile maker’s stock valued at $342,000 after purchasing an additional 98 shares in the last quarter. Finally, EverSource Wealth Advisors LLC raised its stake in UniFirst by 75.2% during the 3rd quarter. EverSource Wealth Advisors LLC now owns 268 shares of the textile maker’s stock worth $45,000 after acquiring an additional 115 shares in the last quarter. 78.17% of the stock is currently owned by institutional investors and hedge funds.
UniFirst Price Performance
Shares of NYSE:UNF opened at $264.16 on Wednesday. The company’s fifty day moving average price is $259.89 and its 200 day moving average price is $218.22. UniFirst Corporation has a 12 month low of $147.66 and a 12 month high of $283.77. The firm has a market capitalization of $4.78 billion, a P/E ratio of 35.79 and a beta of 0.63.
UniFirst Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 26th. Shareholders of record on Friday, June 5th will be paid a $0.365 dividend. The ex-dividend date is Friday, June 5th. This represents a $1.46 dividend on an annualized basis and a yield of 0.6%. UniFirst’s payout ratio is currently 19.78%.
Wall Street Analysts Forecast Growth
Several brokerages recently commented on UNF. UBS Group lifted their price target on shares of UniFirst from $206.00 to $260.00 and gave the stock a “neutral” rating in a research note on Thursday, April 2nd. Weiss Ratings reiterated a “hold (c)” rating on shares of UniFirst in a research note on Wednesday, January 21st. Finally, Barclays lifted their price target on shares of UniFirst from $250.00 to $280.00 and gave the stock an “equal weight” rating in a research note on Thursday, March 12th. Four investment analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, UniFirst presently has a consensus rating of “Reduce” and an average price target of $228.25.
View Our Latest Research Report on UniFirst
UniFirst 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).
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