UniFirst (NYSE:UNF) announced its earnings results on Thursday. The textile maker reported $1.88 earnings per share for the quarter, missing the consensus estimate of $1.92 by ($0.04), MarketWatch Earnings reports. UniFirst had a net margin of 9.33% and a return on equity of 8.54%. The company had revenue of $438.60 million during the quarter, compared to analysts’ expectations of $433.21 million. During the same quarter last year, the business posted $1.67 earnings per share. The company’s revenue for the quarter was up 5.5% compared to the same quarter last year. UniFirst updated its FY19 guidance to $6.65-6.90 EPS.
Shares of UNF traded down $7.95 during mid-day trading on Thursday, hitting $137.06. The company’s stock had a trading volume of 3,540 shares, compared to its average volume of 73,331. The stock has a market capitalization of $2.74 billion, a P/E ratio of 18.10 and a beta of 0.77. UniFirst has a 1-year low of $133.17 and a 1-year high of $193.05.
The firm also recently declared 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. The ex-dividend date is Thursday, December 6th. This represents a $0.45 annualized dividend and a dividend yield of 0.33%. UniFirst’s dividend payout ratio is currently 6.04%.
In other news, major shareholder The Ronald D. Croatti Trust – 1 sold 2,200 shares of the firm’s stock in a transaction that occurred on Monday, November 19th. The stock was sold at an average price of $149.57, for a total value of $329,054.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, VP Cynthia Croatti sold 2,288 shares of the firm’s stock in a transaction that occurred on Friday, December 14th. The shares were sold at an average price of $141.20, for a total value of $323,065.60. Following the completion of the sale, the vice president now directly owns 10,883 shares of the company’s stock, valued at $1,536,679.60. The disclosure for this sale can be found here. Insiders sold a total of 8,888 shares of company stock valued at $1,295,180 over the last three months. Insiders own 1.00% of the company’s stock.
A number of hedge funds have recently modified their holdings of UNF. First Trust Advisors LP raised its holdings in UniFirst by 69.5% during the second quarter. First Trust Advisors LP now owns 8,402 shares of the textile maker’s stock worth $1,486,000 after purchasing an additional 3,446 shares during the last quarter. Schwab Charles Investment Management Inc. raised its holdings in UniFirst by 7.5% during the second quarter. Schwab Charles Investment Management Inc. now owns 119,025 shares of the textile maker’s stock worth $21,056,000 after purchasing an additional 8,254 shares during the last quarter. BlackRock Inc. raised its holdings in UniFirst by 6.6% during the second quarter. BlackRock Inc. now owns 2,111,515 shares of the textile maker’s stock worth $373,529,000 after purchasing an additional 131,353 shares during the last quarter. Legal & General Group Plc raised its holdings in UniFirst by 5.3% during the second quarter. Legal & General Group Plc now owns 33,248 shares of the textile maker’s stock worth $5,882,000 after purchasing an additional 1,683 shares during the last quarter. Finally, PNC Financial Services Group Inc. raised its holdings in UniFirst by 1,099.4% during the second quarter. PNC Financial Services Group Inc. now owns 50,481 shares of the textile maker’s stock worth $8,931,000 after purchasing an additional 46,272 shares during the last quarter. 76.41% of the stock is owned by hedge funds and other institutional investors.
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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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