Caitong International Asset Management Co. Ltd Purchases 2,166 Shares of UniFirst Corporation $UNF

Caitong International Asset Management Co. Ltd raised its position in shares of UniFirst Corporation (NYSE:UNF) by 3,281.8% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,232 shares of the textile maker’s stock after purchasing an additional 2,166 shares during the quarter. Caitong International Asset Management Co. Ltd’s holdings in UniFirst were worth $431,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. River Road Asset Management LLC increased its stake in shares of UniFirst by 9.6% in the fourth quarter. River Road Asset Management LLC now owns 865,014 shares of the textile maker’s stock worth $166,861,000 after purchasing an additional 75,524 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of UniFirst by 1.9% during the 4th quarter. Dimensional Fund Advisors LP now owns 787,418 shares of the textile maker’s stock valued at $151,895,000 after buying an additional 14,751 shares in the last quarter. Engine Capital Management LP lifted its stake in shares of UniFirst by 640.5% during the 4th quarter. Engine Capital Management LP now owns 459,871 shares of the textile maker’s stock valued at $88,709,000 after buying an additional 397,772 shares in the last quarter. First Trust Advisors LP boosted its holdings in UniFirst by 46.8% in the 4th quarter. First Trust Advisors LP now owns 451,194 shares of the textile maker’s stock worth $87,035,000 after buying an additional 143,853 shares during the period. Finally, Brandes Investment Partners LP boosted its holdings in UniFirst by 164.2% in the 4th quarter. Brandes Investment Partners LP now owns 367,786 shares of the textile maker’s stock worth $70,946,000 after buying an additional 228,586 shares during the period. 78.17% of the stock is currently owned by institutional investors.

UniFirst Stock Performance

Shares of NYSE:UNF opened at $260.83 on Friday. The firm has a market cap of $4.72 billion, a price-to-earnings ratio of 35.34 and a beta of 0.63. The firm has a fifty day moving average price of $261.97 and a 200 day moving average price of $234.97. UniFirst Corporation has a fifty-two week low of $147.66 and a fifty-two week high of $283.77.

UniFirst (NYSE:UNF) last announced its quarterly earnings results on Wednesday, April 1st. The textile maker reported $1.13 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.21 by ($0.08). The company had revenue of $622.50 million during the quarter, compared to the consensus estimate of $614.91 million. UniFirst had a net margin of 5.49% and a return on equity of 6.49%. The business’s revenue was up 3.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.31 earnings per share. As a group, research analysts predict that UniFirst Corporation will post 7.21 earnings per share for the current year.

UniFirst Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, June 26th. Stockholders of record on Friday, June 5th will be issued a $0.365 dividend. This represents a $1.46 annualized dividend and a dividend yield of 0.6%. The ex-dividend date of this dividend is Friday, June 5th. UniFirst’s payout ratio is 19.78%.

Analyst Ratings Changes

A number of brokerages have issued reports on UNF. UBS Group increased their price target on UniFirst from $206.00 to $260.00 and gave the stock a “neutral” rating in a research note on Thursday, April 2nd. Barclays upped their price objective on UniFirst from $250.00 to $280.00 and gave the stock an “equal weight” rating in a research note on Thursday, March 12th. Finally, Weiss Ratings upgraded UniFirst from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Thursday, May 28th. One analyst has rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, UniFirst presently has an average rating of “Hold” and a consensus price target of $228.25.

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).