Moody Aldrich Partners LLC boosted its stake in UniFirst Corp (NYSE:UNF) by 18.3% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 19,385 shares of the textile maker’s stock after buying an additional 3,002 shares during the quarter. Moody Aldrich Partners LLC’s holdings in UniFirst were worth $3,366,000 at the end of the most recent quarter.
A number of other hedge funds also recently added to or reduced their stakes in UNF. BTIM Corp. purchased a new stake in UniFirst in the 2nd quarter worth approximately $31,182,000. BlackRock Inc. raised its holdings in shares of UniFirst by 6.6% during the 2nd quarter. BlackRock Inc. now owns 2,111,515 shares of the textile maker’s stock valued at $373,529,000 after purchasing an additional 131,353 shares in the last quarter. Cornerstone Wealth Management LLC bought a new position in shares of UniFirst during the 2nd quarter valued at $701,000. Assenagon Asset Management S.A. bought a new position in shares of UniFirst during the 3rd quarter valued at $9,611,000. Finally, PNC Financial Services Group Inc. raised its holdings in shares of UniFirst by 1,099.4% during the 2nd quarter. PNC Financial Services Group Inc. now owns 50,481 shares of the textile maker’s stock valued at $8,931,000 after purchasing an additional 46,272 shares in the last quarter. Institutional investors own 76.32% of the company’s stock.
In related news, major shareholder The Ronald D. Croatti Trust – 1 sold 2,200 shares of the firm’s stock in a transaction on Monday, September 17th. The shares were sold at an average price of $182.83, for a total value of $402,226.00. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 1.00% of the company’s stock.
UniFirst (NYSE:UNF) last released its quarterly earnings results on Wednesday, October 17th. The textile maker reported $2.06 earnings per share for the quarter, beating analysts’ consensus estimates of $1.64 by $0.42. The business had revenue of $434.10 million for the quarter, compared to the consensus estimate of $421.45 million. UniFirst had a net margin of 9.33% and a return on equity of 8.54%. UniFirst’s revenue for the quarter was up 7.6% on a year-over-year basis. During the same quarter last year, the firm earned $1.44 EPS. On average, sell-side analysts forecast that UniFirst Corp will post 7.01 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, January 4th. Investors of record on Friday, December 7th will be paid a $0.1125 dividend. The ex-dividend date of this dividend is Thursday, December 6th. This represents a $0.45 dividend on an annualized basis and a yield of 0.30%. UniFirst’s payout ratio is presently 6.04%.
A number of research analysts have recently weighed in on UNF shares. Zacks Investment Research downgraded shares of UniFirst from a “buy” rating to a “hold” rating in a report on Tuesday, July 31st. Robert W. Baird set a $170.00 price target on shares of UniFirst and gave the company a “buy” rating in a report on Thursday, October 18th. Finally, ValuEngine downgraded shares of UniFirst from a “buy” rating to a “hold” rating in a report on Tuesday, September 4th.
UniFirst Corporation provides workplace uniforms and protective work wear clothing in the United States, Canada, and Europe. It operates through US Rental and Cleaning, Canadian Rental and Cleaning, Manufacturing, Specialty Garments Rental and Cleaning, and First Aid segments. 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, and aprons; and specialized protective wear, such as flame resistant and high visibility garments.
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