UniFirst Co. (UNF) to Issue Quarterly Dividend of $0.30 on March 30th

UniFirst Co. (NYSE:UNF) declared a quarterly dividend on Tuesday, January 11th, Zacks reports. Investors of record on Wednesday, March 9th will be paid a dividend of 0.30 per share by the textile maker on Wednesday, March 30th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 0.62%. The ex-dividend date is Tuesday, March 8th.

UniFirst has raised its dividend payment by 180.0% over the last three years and has raised its dividend every year for the last 1 years. UniFirst has a payout ratio of 14.8% meaning its dividend is sufficiently covered by earnings. Research analysts expect UniFirst to earn $8.40 per share next year, which means the company should continue to be able to cover its $1.20 annual dividend with an expected future payout ratio of 14.3%.

Shares of UNF stock opened at $192.97 on Thursday. UniFirst has a 12 month low of $189.84 and a 12 month high of $258.86. The company has a market cap of $3.64 billion, a P/E ratio of 25.70 and a beta of 0.98. The firm has a fifty day moving average price of $201.64 and a 200 day moving average price of $212.78.

UniFirst (NYSE:UNF) last released its quarterly earnings data on Tuesday, January 4th. The textile maker reported $2.00 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.95 by $0.05. UniFirst had a net margin of 7.66% and a return on equity of 7.95%. The company had revenue of $486.16 million during the quarter, compared to the consensus estimate of $475.55 million. During the same quarter in the prior year, the firm posted $2.20 earnings per share. As a group, equities analysts expect that UniFirst will post 7.26 earnings per share for the current fiscal year.

A number of brokerages have recently commented on UNF. Zacks Investment Research cut shares of UniFirst from a “hold” rating to a “sell” rating in a report on Saturday, January 8th. Robert W. Baird raised shares of UniFirst from a “neutral” rating to an “outperform” rating in a report on Thursday, January 6th.

In other news, EVP Cynthia Croatti sold 588 shares of the stock in a transaction that occurred on Monday, December 13th. The shares were sold at an average price of $202.37, for a total value of $118,993.56. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, VP David Martin Katz sold 379 shares of the stock in a transaction that occurred on Tuesday, January 4th. The shares were sold at an average price of $212.00, for a total transaction of $80,348.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,052 shares of company stock valued at $216,543. 1.20% of the stock is currently owned by corporate insiders.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Jane Street Group LLC acquired a new stake in UniFirst during the third quarter worth approximately $553,000. LPL Financial LLC boosted its holdings in shares of UniFirst by 34.4% in the 3rd quarter. LPL Financial LLC now owns 5,223 shares of the textile maker’s stock valued at $1,111,000 after purchasing an additional 1,338 shares during the last quarter. Citadel Advisors LLC boosted its holdings in shares of UniFirst by 38.6% in the 3rd quarter. Citadel Advisors LLC now owns 7,082 shares of the textile maker’s stock valued at $1,505,000 after purchasing an additional 1,974 shares during the last quarter. Finally, Morgan Stanley boosted its holdings in shares of UniFirst by 31.2% in the 2nd quarter. Morgan Stanley now owns 53,869 shares of the textile maker’s stock valued at $12,640,000 after purchasing an additional 12,803 shares during the last quarter. Hedge funds and other institutional investors own 76.77% of the company’s stock.

About UniFirst

UniFirst Corp. engages in the design, manufacture, personalization, rental, cleaning, delivery, and sale of a range of uniforms and protective clothing. It operates through following segments: U.S. Rental and Cleaning, Canadian Rental and Cleaning, Manufacturing, Specialty Garments Rental and Cleaning, First Aid, and Corporate.

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Dividend History for UniFirst (NYSE:UNF)

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