Caxton Associates LLP Takes Position in UniFirst Corporation $UNF

Caxton Associates LLP bought a new position in shares of UniFirst Corporation (NYSE:UNF) during the first quarter, HoldingsChannel.com reports. The institutional investor bought 60,259 shares of the textile maker’s stock, valued at approximately $15,161,000.

Other hedge funds also recently added to or reduced their stakes in the company. Royal Bank of Canada raised its position in shares of UniFirst by 7.8% during the 1st quarter. Royal Bank of Canada now owns 27,152 shares of the textile maker’s stock valued at $4,724,000 after acquiring an additional 1,974 shares in the last quarter. AQR Capital Management LLC lifted its position in UniFirst by 13.4% in the 1st quarter. AQR Capital Management LLC now owns 5,069 shares of the textile maker’s stock valued at $882,000 after purchasing an additional 599 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of UniFirst by 4.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 8,966 shares of the textile maker’s stock valued at $1,560,000 after buying an additional 397 shares during the last quarter. Millennium Management LLC raised its stake in UniFirst by 37.3% during the 1st quarter. Millennium Management LLC now owns 105,331 shares of the textile maker’s stock valued at $18,328,000 after acquiring an additional 28,589 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in UniFirst by 3.9% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 34,914 shares of the textile maker’s stock worth $6,075,000 after purchasing an additional 1,326 shares during the period. 78.17% of the stock is owned by institutional investors and hedge funds.

UniFirst Price Performance

Shares of UNF opened at $290.39 on Friday. UniFirst Corporation has a one year low of $147.66 and a one year high of $295.60. The company has a market capitalization of $5.25 billion, a PE ratio of 45.80 and a beta of 0.63. The company’s fifty day moving average price is $270.00 and its 200 day moving average price is $250.44.

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

UniFirst Dividend Announcement

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

Analyst Ratings Changes

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

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).