Meeder Asset Management Inc. decreased its position in shares of UniFirst Corp (NYSE:UNF) by 55.9% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 336 shares of the textile maker’s stock after selling 426 shares during the quarter. Meeder Asset Management Inc.’s holdings in UniFirst were worth $63,000 at the end of the most recent quarter.
Several other hedge funds have also recently bought and sold shares of UNF. Eagle Asset Management Inc. boosted its position in shares of UniFirst by 0.7% in the 2nd quarter. Eagle Asset Management Inc. now owns 52,156 shares of the textile maker’s stock worth $9,835,000 after purchasing an additional 375 shares in the last quarter. Yorktown Management & Research Co Inc acquired a new stake in UniFirst in the 2nd quarter worth about $226,000. Swiss National Bank boosted its holdings in UniFirst by 7.9% in the 2nd quarter. Swiss National Bank now owns 28,800 shares of the textile maker’s stock worth $5,431,000 after buying an additional 2,100 shares during the last quarter. Envestnet Asset Management Inc. boosted its holdings in UniFirst by 27.9% in the 2nd quarter. Envestnet Asset Management Inc. now owns 11,976 shares of the textile maker’s stock worth $2,258,000 after buying an additional 2,610 shares during the last quarter. Finally, TD Asset Management Inc. boosted its holdings in shares of UniFirst by 43.1% during the 2nd quarter. TD Asset Management Inc. now owns 69,700 shares of the textile maker’s stock worth $13,143,000 after purchasing an additional 21,000 shares during the last quarter. Institutional investors own 77.23% of the company’s stock.
In related news, major shareholder Cecelia Levenstein sold 9,500 shares of the business’s stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $196.67, for a total value of $1,868,365.00. Following the sale, the insider now directly owns 100,650 shares in the company, valued at approximately $19,794,835.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP David A. Difillippo sold 883 shares of the business’s stock in a transaction that occurred on Thursday, May 30th. The stock was sold at an average price of $157.85, for a total transaction of $139,381.55. Following the completion of the sale, the vice president now owns 11,162 shares in the company, valued at $1,761,921.70. The disclosure for this sale can be found here. Insiders sold a total of 30,467 shares of company stock worth $5,999,075 over the last quarter. Insiders own 1.00% of the company’s stock.
UniFirst (NYSE:UNF) last posted its quarterly earnings results on Wednesday, June 26th. The textile maker reported $2.46 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.70 by $0.76. UniFirst had a net margin of 9.21% and a return on equity of 9.67%. The business had revenue of $453.72 million during the quarter, compared to analyst estimates of $441.70 million. During the same period in the previous year, the business posted $1.85 EPS. The company’s quarterly revenue was up 6.2% on a year-over-year basis. As a group, equities analysts forecast that UniFirst Corp will post 7.66 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Friday, September 6th will be issued a $0.1125 dividend. The ex-dividend date is Thursday, September 5th. This represents a $0.45 dividend on an annualized basis and a dividend yield of 0.23%. UniFirst’s payout ratio is currently 6.04%.
Several research analysts have recently weighed in on UNF shares. JPMorgan Chase & Co. boosted their target price on UniFirst from $155.00 to $183.00 and gave the stock a “neutral” rating in a report on Thursday, June 27th. ValuEngine upgraded UniFirst from a “hold” rating to a “buy” rating in a report on Thursday, June 27th. Finally, Zacks Investment Research raised UniFirst from a “hold” rating to a “strong-buy” rating and set a $213.00 target price on the stock in a research report on Saturday, June 29th.
UniFirst Company Profile
UniFirst Corporation provides workplace uniforms and protective work wear clothing in the United States, Europe, and Canada. The company operates through U.S. Rental and Cleaning, Canadian Rental and Cleaning, Manufacturing, Specialty Garments Rental and Cleaning, and First Aid segments. It designs, manufactures, personalizes, rents, cleans, delivers, and sells a range of uniforms and protective clothing, including shirts, pants, jackets, coveralls, lab coats, smocks, and aprons; and specialized protective wear, such as flame resistant and high visibility garments.
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