Sei Investments Co. Reduces Holdings in UniFirst Corporation $UNF

Sei Investments Co. decreased its stake in shares of UniFirst Corporation (NYSE:UNF) by 15.5% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 14,943 shares of the textile maker’s stock after selling 2,738 shares during the period. Sei Investments Co. owned approximately 0.08% of UniFirst worth $3,760,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Modus Advisors LLC purchased a new stake in UniFirst in the fourth quarter worth about $28,000. EverSource Wealth Advisors LLC grew its holdings in shares of UniFirst by 378.1% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 153 shares of the textile maker’s stock worth $29,000 after acquiring an additional 121 shares during the period. Geneos Wealth Management Inc. raised its position in shares of UniFirst by 474.1% in the 1st quarter. Geneos Wealth Management Inc. now owns 155 shares of the textile maker’s stock worth $27,000 after acquiring an additional 128 shares in the last quarter. Danske Bank A S bought a new position in shares of UniFirst in the 3rd quarter worth approximately $33,000. Finally, Brown Brothers Harriman & Co. lifted its stake in shares of 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 purchasing an additional 311 shares during the period. Hedge funds and other institutional investors own 78.17% of the company’s stock.

Analyst Upgrades and Downgrades

UNF has been the topic of several recent research reports. Weiss Ratings cut 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 target price on shares of UniFirst in a research report on Monday, July 6th. Four investment analysts have rated the stock with a Hold rating, According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $246.67.

UniFirst Stock Down 0.1%

UniFirst stock opened at $289.56 on Friday. The company has a market capitalization of $5.24 billion, a P/E ratio of 45.67 and a beta of 0.63. The stock’s 50 day moving average is $275.88 and its 200 day moving average is $256.86. UniFirst Corporation has a twelve month low of $147.66 and a twelve month high of $306.67.

UniFirst (NYSE:UNF) last announced 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). 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 analysts’ expectations of $627.66 million. During the same quarter in the previous year, the firm posted $2.13 EPS. The firm’s quarterly revenue was up 3.9% compared to the same quarter last year. As a group, equities analysts expect that UniFirst Corporation will post 7.49 EPS for the current year.

UniFirst Dividend Announcement

The business also recently declared 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. This represents a $1.46 annualized dividend and a dividend yield of 0.5%. The ex-dividend date of this dividend is Friday, September 4th. UniFirst’s payout ratio is currently 23.03%.

UniFirst Company 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).