Ameriprise Financial Inc. grew its stake in shares of Unifirst Corporation (NYSE:UNF) by 1.5% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 161,307 shares of the textile maker’s stock after buying an additional 2,309 shares during the period. Ameriprise Financial Inc. owned approximately 0.80% of Unifirst worth $24,436,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors and hedge funds also recently modified their holdings of the business. State Street Corp lifted its holdings in shares of Unifirst by 4.4% during the 2nd quarter. State Street Corp now owns 376,860 shares of the textile maker’s stock valued at $53,020,000 after purchasing an additional 15,909 shares in the last quarter. Victory Capital Management Inc. lifted its holdings in shares of Unifirst by 5.3% during the 3rd quarter. Victory Capital Management Inc. now owns 586,882 shares of the textile maker’s stock valued at $88,912,000 after purchasing an additional 29,575 shares in the last quarter. BNP Paribas Arbitrage SA lifted its holdings in shares of Unifirst by 52.0% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 5,778 shares of the textile maker’s stock valued at $813,000 after purchasing an additional 1,977 shares in the last quarter. Northern Trust Corp lifted its holdings in shares of Unifirst by 3.7% during the 2nd quarter. Northern Trust Corp now owns 316,354 shares of the textile maker’s stock valued at $44,511,000 after purchasing an additional 11,327 shares in the last quarter. Finally, Macquarie Group Ltd. lifted its holdings in shares of Unifirst by 4.2% during the 2nd quarter. Macquarie Group Ltd. now owns 294,345 shares of the textile maker’s stock valued at $41,414,000 after purchasing an additional 11,856 shares in the last quarter. Hedge funds and other institutional investors own 74.21% of the company’s stock.
Several research firms have recently weighed in on UNF. Zacks Investment Research upgraded Unifirst from a “hold” rating to a “buy” rating and set a $162.00 price objective on the stock in a report on Wednesday, September 6th. Northcoast Research reiterated a “neutral” rating on shares of Unifirst in a report on Thursday, October 19th. Finally, Robert W. Baird lifted their price objective on Unifirst from $163.00 to $171.00 and gave the company an “outperform” rating in a report on Thursday, October 19th. Two analysts have rated the stock with a sell rating, two have issued a hold rating and one has given a buy rating to the stock. Unifirst currently has a consensus rating of “Hold” and a consensus target price of $165.00.
Unifirst Corporation (NYSE UNF) traded down $1.15 during trading hours on Friday, hitting $164.05. The stock had a trading volume of 52,677 shares, compared to its average volume of 67,458. Unifirst Corporation has a fifty-two week low of $124.85 and a fifty-two week high of $168.05. The company has a market cap of $3,347.40, a PE ratio of 31.27, a PEG ratio of 3.14 and a beta of 0.74.
Unifirst (NYSE:UNF) last released its earnings results on Wednesday, October 18th. The textile maker reported $1.44 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.24 by $0.20. The firm had revenue of $403.60 million for the quarter, compared to analysts’ expectations of $392.15 million. Unifirst had a return on equity of 7.53% and a net margin of 4.40%. The business’s quarterly revenue was up 10.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.27 EPS. sell-side analysts expect that Unifirst Corporation will post 5.26 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, January 5th. Shareholders of record on Friday, December 8th will be paid a $0.0375 dividend. This represents a $0.15 annualized dividend and a yield of 0.09%. The ex-dividend date is Thursday, December 7th. Unifirst’s payout ratio is 4.37%.
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UniFirst Corporation is a provider of workplace uniforms and protective work wear clothing in the United States. 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, aprons and specialized protective wear, such as flame resistant and high visibility garments.
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