NINE MASTS CAPITAL Ltd Takes Position in UniFirst Corporation $UNF

NINE MASTS CAPITAL Ltd purchased a new position in UniFirst Corporation (NYSE:UNF) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 13,070 shares of the textile maker’s stock, valued at approximately $3,456,000. UniFirst accounts for 0.3% of NINE MASTS CAPITAL Ltd’s portfolio, making the stock its 29th biggest position.

A number of other large investors have also recently made changes to their positions in UNF. Modus Advisors LLC purchased a new position in shares of UniFirst during the fourth quarter valued at approximately $28,000. EverSource Wealth Advisors LLC boosted its holdings in UniFirst by 378.1% in the second quarter. EverSource Wealth Advisors LLC now owns 153 shares of the textile maker’s stock worth $29,000 after purchasing an additional 121 shares during the last quarter. Geneos Wealth Management Inc. boosted its holdings in UniFirst by 474.1% in the first quarter. Geneos Wealth Management Inc. now owns 155 shares of the textile maker’s stock worth $27,000 after purchasing an additional 128 shares during the last quarter. Danske Bank A S bought a new stake in UniFirst in the 3rd quarter worth approximately $33,000. Finally, Longfellow Investment Management Co. LLC bought a new stake in UniFirst in the 2nd quarter worth approximately $69,000. 78.17% of the stock is currently owned by institutional investors.

UniFirst Stock Down 0.3%

NYSE UNF opened at $285.84 on Tuesday. The company has a 50-day moving average price of $279.05 and a 200-day moving average price of $260.85. UniFirst Corporation has a 52 week low of $147.66 and a 52 week high of $306.67. The firm has a market capitalization of $5.17 billion, a P/E ratio of 45.09 and a beta of 0.62.

UniFirst (NYSE:UNF) last posted its quarterly earnings data on Wednesday, July 1st. The textile maker reported $1.09 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.93 by ($0.84). The business had revenue of $634.40 million during the quarter, compared to analysts’ expectations of $627.66 million. UniFirst had a return on equity of 6.44% and a net margin of 4.65%.The business’s quarterly revenue was up 3.9% compared to the same quarter last year. During the same period in the previous year, the business posted $2.13 EPS. As a group, equities research analysts anticipate that UniFirst Corporation will post 7.49 EPS for the current year.

UniFirst Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 25th. Shareholders of record on Friday, September 4th will be given a $0.365 dividend. The ex-dividend date is Friday, September 4th. This represents a $1.46 annualized dividend and a yield of 0.5%. UniFirst’s dividend payout ratio (DPR) is presently 23.03%.

Wall Street Analyst Weigh In

UNF has been the subject of a number of research reports. UBS Group set a $262.00 target price on shares of UniFirst in a research note on Monday, July 6th. Weiss Ratings downgraded UniFirst from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Thursday, July 9th. Four equities research analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $246.67.

UniFirst Profile

UniFirst Corporation (NYSE: UNF) is a leading provider of customized uniform rental and facility service programs in North America and Europe. The company specializes in the rental, laundering and maintenance of workwear, corporate apparel and protective garments for a broad range of industries, including manufacturing, automotive, hospitality, healthcare and food processing. UniFirst also offers a suite of facility service products such as entrance mats, restroom supplies, wipers, mops and hygienic services designed to help customers maintain clean and safe environments.

In addition to its core uniform rental business, UniFirst has expanded its product portfolio to include safety and first-responder gear, flame-resistant clothing, high-visibility apparel and personal protective equipment (PPE).