UniFirst Corp. (NYSE:UNF) shares reached a new 52-week high on Monday . The company traded as high as $132.38 and last traded at $132.03, with a volume of 44,840 shares. The stock had previously closed at $130.73.
A number of research firms have weighed in on UNF. JPMorgan Chase & Co. reissued a “hold” rating on shares of UniFirst Corp. in a research note on Thursday, June 30th. Robert W. Baird lowered shares of UniFirst Corp. from an “outperform” rating to a “neutral” rating and decreased their target price for the stock from $125.00 to $121.00 in a research note on Friday, July 1st. Finally, Zacks Investment Research lowered shares of UniFirst Corp. from a “hold” rating to a “sell” rating in a research note on Friday, July 1st.
The stock has a market capitalization of $2.68 billion, a price-to-earnings ratio of 22.57 and a beta of 0.89. The stock has a 50 day moving average price of $125.70 and a 200 day moving average price of $115.59.
UniFirst Corp. (NYSE:UNF) last issued its quarterly earnings results on Wednesday, June 29th. The company reported $1.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.35 by $0.14. UniFirst Corp. had a net margin of 8.09% and a return on equity of 9.19%. The business had revenue of $367 million for the quarter, compared to analyst estimates of $366.38 million. During the same period in the previous year, the business posted $1.61 earnings per share. The business’s revenue was up .6% compared to the same quarter last year. Analysts forecast that UniFirst Corp. will post $5.67 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, September 30th. Stockholders of record on Friday, September 9th will be paid a dividend of $0.0375 per share. The ex-dividend date of this dividend is Wednesday, September 7th. This represents a $0.15 dividend on an annualized basis and a dividend yield of 0.11%. UniFirst Corp.’s dividend payout ratio (DPR) is 2.56%.
In other news, CFO Steven S. Sintros sold 1,083 shares of the business’s stock in a transaction dated Wednesday, July 20th. The shares were sold at an average price of $114.77, for a total transaction of $124,295.91. Following the transaction, the chief financial officer now directly owns 2,666 shares in the company, valued at $305,976.82. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP David A. Difillippo sold 1,267 shares of the business’s stock in a transaction dated Monday, June 27th. The stock was sold at an average price of $109.00, for a total transaction of $138,103.00. Following the transaction, the vice president now owns 3,513 shares in the company, valued at $382,917. The disclosure for this sale can be found here. Insiders own 6.20% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of the company. BlackRock Inc. raised its position in shares of UniFirst Corp. by 18.9% in the first quarter. BlackRock Inc. now owns 1,001 shares of the company’s stock valued at $109,000 after buying an additional 159 shares during the last quarter. Amalgamated Bank bought a new position in shares of UniFirst Corp. during the second quarter valued at $213,000. PineBridge Investments L.P. raised its position in shares of UniFirst Corp. by 3.9% in the second quarter. PineBridge Investments L.P. now owns 1,939 shares of the company’s stock valued at $225,000 after buying an additional 73 shares during the last quarter. Eqis Capital Management Inc. bought a new position in shares of UniFirst Corp. during the second quarter valued at $231,000. Finally, Pacad Investment Ltd. bought a new position in shares of UniFirst Corp. during the second quarter valued at $231,000. Institutional investors and hedge funds own 74.03% of the company’s stock.
UniFirst Corp. Company Profile
UniFirst Corporation (UniFirst) is a provider of workplace uniforms and protective work wear clothing in the United States. The Company designs, manufactures, personalizes, rents, cleans, delivers, and sells a range of uniforms and protective clothing, including shirts, pants, jackets, coveralls, lab coats, smocks, aprons and specialized protective wear, such as flame resistant and high visibility garments.
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