Gallagher Fiduciary Advisors LLC acquired a new stake in UniFirst Corporation (NYSE:UNF – Free Report) in the second quarter, Holdings Channel reports. The fund acquired 3,355 shares of the textile maker’s stock, valued at approximately $887,000.
Other hedge funds also recently made changes to their positions in the company. Geneos Wealth Management Inc. boosted its stake in shares of UniFirst by 474.1% in the first quarter. Geneos Wealth Management Inc. now owns 155 shares of the textile maker’s stock valued at $27,000 after buying an additional 128 shares during the period. Modus Advisors LLC bought a new position in UniFirst during the 4th quarter worth $28,000. EverSource Wealth Advisors LLC raised its holdings in UniFirst by 378.1% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 153 shares of the textile maker’s stock valued at $29,000 after acquiring an additional 121 shares in the last quarter. Danske Bank A S acquired a new position in UniFirst in the 3rd quarter valued at $33,000. Finally, Brown Brothers Harriman & Co. lifted its position in shares of 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 acquiring an additional 311 shares during the period. 78.17% of the stock is owned by institutional investors.
Wall Street Analysts Forecast Growth
A number of research analysts recently commented on the company. Weiss Ratings cut UniFirst from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Thursday, July 9th. UBS Group set a $262.00 price target on shares of UniFirst in a research report on Monday, July 6th. Four investment analysts have rated the stock with a Hold rating, According to MarketBeat.com, UniFirst has an average rating of “Hold” and a consensus target price of $246.67.
UniFirst Trading Down 1.2%
Shares of UniFirst stock opened at $288.23 on Wednesday. The firm’s 50 day moving average is $281.49 and its 200 day moving average is $264.29. The firm has a market capitalization of $5.21 billion, a PE ratio of 45.46 and a beta of 0.63. UniFirst Corporation has a 1 year low of $147.66 and a 1 year high of $306.67.
UniFirst (NYSE:UNF – Get Free Report) last issued its earnings results on Wednesday, July 1st. The textile maker reported $1.09 earnings per share for the quarter, missing analysts’ consensus estimates of $1.93 by ($0.84). The company had revenue of $634.40 million during the quarter, compared to analyst estimates of $627.66 million. UniFirst had a net margin of 4.65% and a return on equity of 6.44%. The business’s quarterly revenue was up 3.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.13 EPS. As a group, research analysts anticipate that UniFirst Corporation will post 7.49 earnings per share for the current year.
UniFirst Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Friday, September 25th. Shareholders of record on Friday, September 4th will be given a $0.365 dividend. The ex-dividend date is Friday, September 4th. This represents a $1.46 annualized dividend and a yield of 0.5%. UniFirst’s dividend payout ratio (DPR) is currently 23.03%.
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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