Dimensional Fund Advisors LP trimmed its holdings in shares of UniFirst Corp (NYSE:UNF) by 6.5% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 754,374 shares of the textile maker’s stock after selling 52,229 shares during the quarter. Dimensional Fund Advisors LP’s holdings in UniFirst were worth $130,997,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Captrust Financial Advisors boosted its position in shares of UniFirst by 743.3% in the second quarter. Captrust Financial Advisors now owns 565 shares of the textile maker’s stock worth $100,000 after purchasing an additional 498 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of UniFirst by 43.3% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 947 shares of the textile maker’s stock worth $168,000 after purchasing an additional 286 shares during the period. Trexquant Investment LP bought a new position in shares of UniFirst in the third quarter worth approximately $253,000. Janney Montgomery Scott LLC bought a new position in shares of UniFirst in the third quarter worth approximately $291,000. Finally, Envestnet Asset Management Inc. boosted its position in shares of UniFirst by 30.1% in the second quarter. Envestnet Asset Management Inc. now owns 1,698 shares of the textile maker’s stock worth $301,000 after purchasing an additional 393 shares during the period. Institutional investors own 76.48% of the company’s stock.
UNF has been the topic of several research analyst reports. Zacks Investment Research raised shares of UniFirst from a “hold” rating to a “buy” rating and set a $206.00 target price on the stock in a report on Wednesday, August 29th. ValuEngine downgraded shares of UniFirst from a “buy” rating to a “hold” rating in a report on Tuesday, September 4th. Finally, Robert W. Baird set a $170.00 target price on shares of UniFirst and gave the stock a “buy” rating in a report on Thursday, October 18th.
UniFirst (NYSE:UNF) last released its earnings results on Wednesday, October 17th. The textile maker reported $2.06 EPS for the quarter, topping the consensus estimate of $1.64 by $0.42. UniFirst had a net margin of 9.33% and a return on equity of 8.54%. The firm had revenue of $434.10 million for the quarter, compared to the consensus estimate of $421.45 million. During the same quarter in the previous year, the firm earned $1.44 earnings per share. The company’s quarterly revenue was up 7.6% compared to the same quarter last year. As a group, research analysts expect that UniFirst Corp will post 7.01 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, January 4th. Stockholders of record on Friday, December 7th will be issued a $0.1125 dividend. This represents a $0.45 annualized dividend and a dividend yield of 0.31%. The ex-dividend date is Thursday, December 6th. UniFirst’s dividend payout ratio (DPR) is presently 6.04%.
In other news, major shareholder The Ronald D. Croatti Trust – 1 sold 2,200 shares of the business’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 filing with the SEC, which is available at the SEC website. Insiders sold 6,600 shares of company stock worth $1,067,110 in the last three months. Insiders own 1.00% of the company’s stock.
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UniFirst Company Profile
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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