2 weeks Ago By Defense World Staff
Invesco Ltd. grew its holdings in shares of UniFirst Co. (NYSE:UNF – Free Report) by 4.
0% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 77,725 shares of the textile maker’s stock after acquiring an additional 3,017 shares during the quarter. Invesco Ltd.
owned 0.42% of UniFirst worth $13,298,000 at the end of the most recent quarter. Other hedge funds have also recently made changes to their positions in the company.
Independence Bank of Kentucky bought a new position in UniFirst during the 4th quarter worth approximately $34,000. Blue Trust Inc. grew its holdings in shares of UniFirst by 1,105.
3% in the fourth quarter. Blue Trust Inc. now owns 229 shares of the textile maker’s stock worth $39,000 after purchasing an additional 210 shares during the last quarter.
Smartleaf Asset Management LLC increased its stake in shares of UniFirst by 252.0% in the fourth quarter. Smartleaf Asset Management LLC now owns 345 shares of the textile maker’s stock worth $59,000 after buying an additional 247 shares during the period.
Jones Financial Companies Lllp increased its stake in shares of UniFirst by 187.2% in the fourth quarter. Jones Financial Companies Lllp now owns 359 shares of the textile maker’s stock worth $61,000 after buying an additional 234 shares during the period.
Finally, Meeder Asset Management Inc. raised its holdings in UniFirst by 419.0% during the 4th quarter.
Meeder Asset Management Inc. now owns 628 shares of the textile maker’s stock valued at $107,000 after buying an additional 507 shares during the last quarter. 78.
17% of the stock is currently owned by institutional investors. UniFirst Price PerformanceShares of NYSE UNF opened at $171.47 on Tuesday.
UniFirst Co. has a 1 year low of $149.58 and a 1 year high of $243.
70. The stock has a market capitalization of $3.18 billion, a P/E ratio of 21.
93 and a beta of 0.88. The company’s 50-day moving average is $191.
95 and its 200 day moving average is $196.15. UniFirst (NYSE:UNF – Get Free Report) last announced its earnings results on Wednesday, April 2nd.
The textile maker reported $1.31 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.34 by ($0.
03). UniFirst had a return on equity of 7.40% and a net margin of 6.
00%. The firm had revenue of $602.20 million during the quarter, compared to the consensus estimate of $602.
81 million. During the same period in the prior year, the company posted $1.09 EPS.
The firm’s revenue was up 1.9% on a year-over-year basis. Research analysts anticipate that UniFirst Co.
will post 7.71 earnings per share for the current year. UniFirst declared that its Board of Directors has initiated a share buyback plan on Tuesday, April 8th that authorizes the company to buyback $100.
00 million in shares. This buyback authorization authorizes the textile maker to reacquire up to 3.3% of its stock through open market purchases.
Stock buyback plans are usually a sign that the company’s management believes its shares are undervalued. UniFirst Announces DividendThe firm also recently announced a quarterly dividend, which will be paid on Friday, June 27th. Stockholders of record on Friday, June 6th will be issued a dividend of $0.
35 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 0.
82%. The ex-dividend date of this dividend is Friday, June 6th. UniFirst’s dividend payout ratio (DPR) is presently 17.
41%. Insider Buying and SellingIn other UniFirst news, VP David Martin Katz sold 1,299 shares of the company’s stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $210.
95, for a total value of $274,024.05. Following the sale, the vice president now owns 6,455 shares in the company, valued at approximately $1,361,682.
25. This represents a 16.75 % decrease in their ownership of the stock.
The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.86% of the stock is owned by company insiders.
Wall Street Analysts Forecast GrowthA number of equities research analysts have issued reports on the stock. UBS Group raised their price target on shares of UniFirst from $194.00 to $196.
00 and gave the stock a “neutral” rating in a report on Thursday, April 3rd. StockNews.com downgraded UniFirst from a “strong-buy” rating to a “buy” rating in a report on Wednesday, January 8th.
Barclays reiterated an “underweight” rating and issued a $152.00 price objective (down previously from $180.00) on shares of UniFirst in a report on Friday, April 4th.
Finally, Robert W. Baird cut their price objective on UniFirst from $218.00 to $197.
00 and set a “neutral” rating on the stock in a research report on Thursday, April 3rd. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.
com, the stock has an average rating of “Hold” and a consensus price target of $180.00.Check Out Our Latest Research Report on UNFUniFirst Company Profile (Free Report)UniFirst Corporation provides workplace uniforms and protective work wear clothing in the United States, Europe, and Canada.
The company operates through U.S. and 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.Featured StoriesFive stocks we like better than UniFirstGrowth Investing: Should You Adopt This Investing Strategy in 2022?AST SpaceMobile: 5 Reasons to Buy This Tiny Trailblazer Stock3 Stocks to Consider Buying in OctoberWhy Call Option Traders Are Targeting This Dividend ETF NowTop Stocks Investing in 5G TechnologyIs Alphabet Misunderstood? Here’s Why the Bulls Are Buying.
