UniFirst Corp (NYSE:UNF) major shareholder The Ronald D. Croatti Trust – 1 sold 5,583 shares of the stock in a transaction that occurred on Wednesday, March 13th. The shares were sold at an average price of $139.01, for a total transaction of $776,092.83. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Large shareholders that own at least 10% of a company’s shares are required to disclose their sales and purchases with the SEC.
Shares of UNF stock traded up $0.15 during mid-day trading on Friday, reaching $138.70. 1,577 shares of the company were exchanged, compared to its average volume of 119,512. UniFirst Corp has a fifty-two week low of $132.38 and a fifty-two week high of $193.05. The company has a market capitalization of $2.65 billion, a P/E ratio of 18.60 and a beta of 0.67.
UniFirst (NYSE:UNF) last released its quarterly earnings results on Thursday, January 3rd. The textile maker reported $1.88 earnings per share for the quarter, missing analysts’ consensus estimates of $1.92 by ($0.04). UniFirst had a return on equity of 8.69% and a net margin of 9.44%. The company had revenue of $438.60 million for the quarter, compared to analyst estimates of $433.21 million. During the same period in the previous year, the business posted $1.67 EPS. The firm’s quarterly revenue was up 5.5% compared to the same quarter last year. On average, research analysts forecast that UniFirst Corp will post 6.83 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, March 29th. Stockholders of record on Friday, March 8th will be given a dividend of $0.1125 per share. This represents a $0.45 dividend on an annualized basis and a dividend yield of 0.32%. The ex-dividend date is Thursday, March 7th. UniFirst’s payout ratio is currently 6.04%.
Several hedge funds have recently added to or reduced their stakes in the company. State of Alaska Department of Revenue grew its position in shares of UniFirst by 1.8% during the fourth quarter. State of Alaska Department of Revenue now owns 5,169 shares of the textile maker’s stock worth $739,000 after buying an additional 90 shares in the last quarter. Comerica Bank grew its position in shares of UniFirst by 0.7% during the fourth quarter. Comerica Bank now owns 15,185 shares of the textile maker’s stock worth $2,059,000 after buying an additional 99 shares in the last quarter. Piedmont Investment Advisors Inc. grew its position in shares of UniFirst by 3.3% during the fourth quarter. Piedmont Investment Advisors Inc. now owns 3,668 shares of the textile maker’s stock worth $525,000 after buying an additional 117 shares in the last quarter. Amalgamated Bank grew its position in shares of UniFirst by 6.3% during the fourth quarter. Amalgamated Bank now owns 2,198 shares of the textile maker’s stock worth $314,000 after buying an additional 130 shares in the last quarter. Finally, NumerixS Investment Technologies Inc acquired a new stake in shares of UniFirst during the fourth quarter worth approximately $28,000. 76.51% of the stock is owned by institutional investors and hedge funds.
Several analysts have issued reports on UNF shares. ValuEngine downgraded shares of UniFirst from a “buy” rating to a “hold” rating in a research report on Friday, January 4th. Robert W. Baird lowered their price objective on shares of UniFirst from $170.00 to $152.00 and set an “outperform” rating for the company in a research report on Friday, January 4th. Finally, Zacks Investment Research raised shares of UniFirst from a “sell” rating to a “hold” rating in a research report on Saturday, January 19th.
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UniFirst Company Profile
UniFirst Corporation provides workplace uniforms and protective work wear clothing in the United States, Europe, and Canada. The company operates through U.S. Rental and Cleaning, Canadian Rental and Cleaning, Manufacturing, Specialty Garments Rental and Cleaning, and First Aid segments. It designs, manufactures, personalizes, rents, cleans, delivers, and sells a range of uniforms and protective clothing, including shirts, pants, jackets, coveralls, lab coats, smocks, and aprons; and specialized protective wear, such as flame resistant and high visibility garments.
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