Neuberger Berman Group LLC Raises Position in UniFirst Corp. (UNF)
Neuberger Berman Group LLC increased its position in UniFirst Corp. (NYSE:UNF) by 15.8% during the third quarter, Holdings Channel reports. The firm owned 513,654 shares of the company’s stock after buying an additional 70,180 shares during the period. Neuberger Berman Group LLC’s holdings in UniFirst Corp. were worth $67,730,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Amalgamated Bank bought a new position in UniFirst Corp. during the second quarter worth approximately $213,000. PineBridge Investments L.P. boosted its position in UniFirst Corp. by 3.9% in the second quarter. PineBridge Investments L.P. now owns 1,939 shares of the company’s stock worth $225,000 after buying an additional 73 shares during the period. Eqis Capital Management Inc. bought a new position in UniFirst Corp. during the second quarter worth approximately $231,000. Pacad Investment Ltd. bought a new position in UniFirst Corp. during the second quarter worth approximately $231,000. Finally, Cubist Systematic Strategies LLC bought a new position in UniFirst Corp. during the second quarter worth approximately $240,000. 75.21% of the stock is owned by hedge funds and other institutional investors.
UniFirst Corp. (NYSE:UNF) opened at 141.35 on Wednesday. The company has a market cap of $2.87 billion, a price-to-earnings ratio of 22.90 and a beta of 0.71. The company has a 50-day moving average of $129.97 and a 200-day moving average of $122.81. UniFirst Corp. has a one year low of $96.90 and a one year high of $142.75.
UniFirst Corp. (NYSE:UNF) last posted its earnings results on Wednesday, October 19th. The company reported $1.27 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.23 by $0.04. The business earned $363.80 million during the quarter, compared to analyst estimates of $362.62 million. UniFirst Corp. had a return on equity of 8.74% and a net margin of 8.51%. The company’s quarterly revenue was up 1.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.43 EPS. Equities research analysts expect that UniFirst Corp. will post $5.16 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, January 6th. Shareholders of record on Friday, December 9th will be issued a dividend of $0.0375 per share. This represents a $0.15 dividend on an annualized basis and a yield of 0.11%. The ex-dividend date of this dividend is Wednesday, December 7th. UniFirst Corp.’s payout ratio is presently 2.43%.
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Separately, Zacks Investment Research cut shares of UniFirst Corp. from a “hold” rating to a “sell” rating in a report on Saturday, October 22nd.
UniFirst Corp. Company Profile
UniFirst Corporation (UniFirst) is a provider of workplace uniforms and protective work wear clothing in the United States. The Company designs, manufactures, personalizes, rents, cleans, delivers, and sells a range of uniforms and protective clothing, including shirts, pants, jackets, coveralls, lab coats, smocks, aprons and specialized protective wear, such as flame resistant and high visibility garments.
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