The Ronald D. Croatti Trust – 1 Sells 5,584 Shares of UniFirst Corp (UNF) Stock

UniFirst Corp (NYSE:UNF) major shareholder The Ronald D. Croatti Trust – 1 sold 5,584 shares of UniFirst stock in a transaction that occurred on Monday, February 11th. The stock was sold at an average price of $141.19, for a total value of $788,404.96. The transaction was disclosed in a document filed with the SEC, which is available through this link. Major shareholders that own at least 10% of a company’s stock are required to disclose their transactions with the SEC.

NYSE:UNF opened at $145.81 on Thursday. The company has a market cap of $2.80 billion, a P/E ratio of 19.57 and a beta of 0.67. UniFirst Corp has a 1-year low of $132.38 and a 1-year high of $193.05.

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 the Thomson Reuters’ consensus estimate of $1.92 by ($0.04). The firm had revenue of $438.60 million for the quarter, compared to analyst estimates of $433.21 million. UniFirst had a return on equity of 8.69% and a net margin of 9.44%. The business’s revenue for the quarter was up 5.5% on a year-over-year basis. During the same period in the previous year, the business posted $1.67 earnings per share. Analysts predict that UniFirst Corp will post 6.83 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 29th. Shareholders of record on Friday, March 8th will be issued a $0.1125 dividend. The ex-dividend date of this dividend is Thursday, March 7th. This represents a $0.45 annualized dividend and a yield of 0.31%. UniFirst’s dividend payout ratio is presently 6.04%.

UniFirst declared that its Board of Directors has authorized a stock buyback plan on Thursday, January 3rd that authorizes the company to repurchase $100.00 million in shares. This repurchase authorization authorizes the textile maker to repurchase up to 3.9% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s board of directors believes its shares are undervalued.

A number of hedge funds and other institutional investors have recently made changes to their positions in UNF. BlackRock Inc. raised its holdings in UniFirst by 3.8% in the 3rd quarter. BlackRock Inc. now owns 2,192,209 shares of the textile maker’s stock valued at $380,678,000 after acquiring an additional 80,694 shares in the last quarter. Morgan Stanley raised its holdings in UniFirst by 133.1% in the 3rd quarter. Morgan Stanley now owns 103,855 shares of the textile maker’s stock valued at $18,034,000 after acquiring an additional 59,302 shares in the last quarter. Man Group plc raised its holdings in UniFirst by 111.5% in the 3rd quarter. Man Group plc now owns 112,072 shares of the textile maker’s stock valued at $19,461,000 after acquiring an additional 59,082 shares in the last quarter. Renaissance Technologies LLC raised its holdings in UniFirst by 41.2% in the 3rd quarter. Renaissance Technologies LLC now owns 199,705 shares of the textile maker’s stock valued at $34,679,000 after acquiring an additional 58,305 shares in the last quarter. Finally, Assenagon Asset Management S.A. acquired a new position in UniFirst in the 3rd quarter valued at $9,611,000. 80.68% of the stock is owned by hedge funds and other institutional investors.

Several research firms recently weighed in on UNF. Zacks Investment Research raised UniFirst from a “sell” rating to a “hold” rating in a report on Friday, February 8th. Robert W. Baird dropped their price target on UniFirst from $170.00 to $152.00 and set an “outperform” rating for the company in a report on Friday, January 4th. Finally, ValuEngine cut UniFirst from a “buy” rating to a “hold” rating in a report on Friday, January 4th.

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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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Insider Buying and Selling by Quarter for UniFirst (NYSE:UNF)

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