UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Reduces Stock Position in UniFirst Corporation $UNF

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lessened its holdings in UniFirst Corporation (NYSE:UNF) by 13.7% during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 21,845 shares of the textile maker’s stock after selling 3,475 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned approximately 0.12% of UniFirst worth $5,777,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Geneos Wealth Management Inc. boosted its stake in shares of UniFirst by 474.1% during the first quarter. Geneos Wealth Management Inc. now owns 155 shares of the textile maker’s stock valued at $27,000 after purchasing an additional 128 shares during the period. Modus Advisors LLC purchased a new position in UniFirst in the 4th quarter worth about $28,000. EverSource Wealth Advisors LLC lifted its holdings in UniFirst by 378.1% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 153 shares of the textile maker’s stock valued at $29,000 after buying an additional 121 shares in the last quarter. Danske Bank A S bought a new stake in UniFirst during the 3rd quarter valued at about $33,000. Finally, Brown Brothers Harriman & Co. boosted its position in UniFirst by 1,244.0% in the 3rd quarter. Brown Brothers Harriman & Co. now owns 336 shares of the textile maker’s stock valued at $56,000 after buying an additional 311 shares during the period. 78.17% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

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

UniFirst Trading Up 0.0%

Shares of NYSE UNF opened at $275.26 on Wednesday. UniFirst Corporation has a 12-month low of $147.66 and a 12-month high of $306.67. The stock’s fifty day simple moving average is $284.67 and its two-hundred day simple moving average is $267.95. The stock has a market capitalization of $4.98 billion, a PE ratio of 43.42 and a beta of 0.61.

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

UniFirst Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 25th. Stockholders of record on Friday, September 4th will be given a $0.365 dividend. The ex-dividend date of this dividend is Friday, September 4th. This represents a $1.46 dividend on an annualized basis and a dividend yield of 0.5%. UniFirst’s payout ratio is presently 23.03%.

About UniFirst

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).