Corient Private Wealth LP boosted its holdings in UniFirst Corporation (NYSE:UNF – Free Report) by 218.7% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 13,816 shares of the textile maker’s stock after acquiring an additional 9,481 shares during the period. Corient Private Wealth LP’s holdings in UniFirst were worth $3,654,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds have also added to or reduced their stakes in the company. Modus Advisors LLC bought a new position in UniFirst during the fourth quarter worth $28,000. EverSource Wealth Advisors LLC raised its position in shares of UniFirst by 378.1% in the second 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. Geneos Wealth Management Inc. raised its position 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 purchasing an additional 128 shares during the period. Danske Bank A S acquired a new stake in shares of UniFirst during the 3rd quarter worth about $33,000. Finally, Longfellow Investment Management Co. LLC acquired a new stake in shares of UniFirst during the 2nd quarter worth about $69,000. Institutional investors and hedge funds own 78.17% of the company’s stock.
UniFirst Price Performance
UNF opened at $277.23 on Wednesday. The business has a fifty day simple moving average of $283.60 and a 200 day simple moving average of $266.68. The company has a market capitalization of $5.01 billion, a PE ratio of 43.73 and a beta of 0.61. UniFirst Corporation has a 1 year low of $147.66 and a 1 year high of $306.67.
UniFirst Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 25th. Investors of record on Friday, September 4th will be paid a $0.365 dividend. The ex-dividend date is Friday, September 4th. This represents a $1.46 annualized dividend and a dividend yield of 0.5%. UniFirst’s dividend payout ratio is 23.03%.
Analyst Upgrades and Downgrades
UNF has been the subject of several research analyst reports. UBS Group set a $262.00 target price on shares of UniFirst in a report on Monday, July 6th. Weiss Ratings cut shares of UniFirst from a “buy (b-)” rating to a “hold (c+)” rating in a report on Thursday, July 9th. Four investment analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, UniFirst currently has an average rating of “Hold” and a consensus price target of $246.67.
Read Our Latest Stock Report on UniFirst
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).
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