UniFirst Corp (NYSE:UNF) major shareholder The Ronald D. Croatti Trust – 1 sold 5,584 shares of the company’s stock in a transaction on Thursday, January 10th. The shares were sold at an average price of $137.81, for a total transaction of $769,531.04. The transaction was disclosed in a filing with the SEC, which is available at this link. Major shareholders that own more than 10% of a company’s shares are required to disclose their transactions with the SEC.
Shares of NYSE:UNF traded down $0.36 during midday trading on Friday, reaching $137.47. The company’s stock had a trading volume of 4,125 shares, compared to its average volume of 86,537. The company has a market capitalization of $2.65 billion, a PE ratio of 18.47 and a beta of 0.77. UniFirst Corp has a 12-month low of $132.38 and a 12-month high of $193.05.
UniFirst (NYSE:UNF) last issued its quarterly earnings data 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 business had revenue of $438.60 million during the quarter, compared to the consensus estimate of $433.21 million. UniFirst had a return on equity of 8.69% and a net margin of 9.44%. UniFirst’s revenue for the quarter was up 5.5% on a year-over-year basis. During the same quarter last year, the company earned $1.67 EPS. As a group, analysts expect that UniFirst Corp will post 6.83 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, March 29th. Investors of record on Friday, March 8th will be issued a $0.1125 dividend. This represents a $0.45 dividend on an annualized basis and a dividend yield of 0.33%. The ex-dividend date of this dividend is Thursday, March 7th. UniFirst’s dividend payout ratio (DPR) is presently 6.04%.
Several research firms recently issued reports on UNF. 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. ValuEngine downgraded UniFirst from a “buy” rating to a “hold” rating in a research report on Friday, January 4th. Finally, Zacks Investment Research downgraded UniFirst from a “hold” rating to a “sell” rating in a research report on Tuesday, October 23rd.
Hedge funds have recently bought and sold shares of the stock. First Trust Advisors LP lifted its position in UniFirst by 69.5% in the second quarter. First Trust Advisors LP now owns 8,402 shares of the textile maker’s stock worth $1,486,000 after buying an additional 3,446 shares during the last quarter. BlackRock Inc. lifted its position in UniFirst by 6.6% in the second quarter. BlackRock Inc. now owns 2,111,515 shares of the textile maker’s stock worth $373,529,000 after buying an additional 131,353 shares during the last quarter. Legal & General Group Plc lifted its position in UniFirst by 5.3% in the second quarter. Legal & General Group Plc now owns 33,248 shares of the textile maker’s stock worth $5,882,000 after buying an additional 1,683 shares during the last quarter. Envestnet Asset Management Inc. lifted its position in 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 buying an additional 393 shares during the last quarter. Finally, Raymond James & Associates lifted its position in UniFirst by 1.3% in the second quarter. Raymond James & Associates now owns 32,288 shares of the textile maker’s stock worth $5,712,000 after buying an additional 409 shares during the last quarter. 76.41% of the stock is owned by hedge funds and other institutional investors.
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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