Vazirani Asset Management LLC Acquires Shares of 3,500 UniFirst Corporation $UNF

Vazirani Asset Management LLC bought a new position in shares of UniFirst Corporation (NYSE:UNF) during the second quarter, according to the company in its most recent disclosure with the SEC. The firm bought 3,500 shares of the textile maker’s stock, valued at approximately $925,610,000. UniFirst comprises 4.6% of Vazirani Asset Management LLC’s holdings, making the stock its 10th largest holding.

A number of other institutional investors have also made changes to their positions in the company. BlackRock Inc. acquired a new stake in shares of UniFirst during the 2nd quarter valued at approximately $580,008,000. River Road Asset Management LLC lifted its stake in UniFirst by 9.6% during 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 during the last quarter. Dimensional Fund Advisors LP lifted its stake in UniFirst by 1.9% during the fourth quarter. Dimensional Fund Advisors LP now owns 787,418 shares of the textile maker’s stock worth $151,895,000 after purchasing an additional 14,751 shares during the last quarter. Engine Capital Management LP boosted its holdings in UniFirst by 640.5% in the fourth quarter. Engine Capital Management LP now owns 459,871 shares of the textile maker’s stock worth $88,709,000 after purchasing an additional 397,772 shares during the period. Finally, First Trust Advisors LP boosted its holdings in UniFirst by 46.8% in the fourth quarter. First Trust Advisors LP now owns 451,194 shares of the textile maker’s stock worth $87,035,000 after purchasing an additional 143,853 shares during the period. 78.17% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

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

UniFirst Trading Down 0.1%

Shares of UniFirst stock opened at $287.86 on Thursday. The stock has a market capitalization of $5.20 billion, a price-to-earnings ratio of 45.40 and a beta of 0.63. UniFirst Corporation has a twelve month low of $147.66 and a twelve month high of $306.67. The business’s 50 day simple moving average is $282.04 and its 200-day simple moving average is $264.89.

UniFirst (NYSE:UNF) last released 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 company had revenue of $634.40 million for the quarter, compared to analyst estimates of $627.66 million. UniFirst had a net margin of 4.65% and a return on equity of 6.44%. The company’s revenue for the quarter was up 3.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.13 EPS. Sell-side analysts predict that UniFirst Corporation will post 7.49 earnings per share for the current year.

UniFirst Dividend Announcement

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