UniFirst Corp. (UNF) Sees Large Volume Increase
Shares of UniFirst Corp. (NYSE:UNF) saw strong trading volume on Thursday . 117,511 shares traded hands during mid-day trading, an increase of 14% from the previous session’s volume of 103,260 shares.The stock last traded at $126.34 and had previously closed at $125.40.
A number of research analysts have recently weighed in on the company. Robert W. Baird lowered UniFirst Corp. from an “outperform” rating to a “neutral” rating and dropped their target price for the company from $125.00 to $121.00 in a report on Friday, July 1st. Zacks Investment Research lowered UniFirst Corp. from a “hold” rating to a “sell” rating in a report on Friday, July 1st. Finally, JPMorgan Chase & Co. restated a “hold” rating on shares of UniFirst Corp. in a report on Thursday, June 30th.
The firm has a market cap of $2.55 billion and a price-to-earnings ratio of 21.45. The company has a 50 day moving average price of $117.44 and a 200 day moving average price of $111.46.
UniFirst Corp. (NYSE:UNF) last posted its earnings results on Wednesday, June 29th. The company reported $1.49 earnings per share for the quarter, topping analysts’ consensus estimates of $1.35 by $0.14. The firm had revenue of $367 million for the quarter, compared to analysts’ expectations of $366.38 million. During the same quarter last year, the company posted $1.61 EPS. The firm’s revenue was up .6% on a year-over-year basis. Equities research analysts anticipate that UniFirst Corp. will post $5.67 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, September 30th. Investors of record on Friday, September 9th will be paid a $0.0375 dividend. The ex-dividend date is Wednesday, September 7th. This represents a $0.15 annualized dividend and a dividend yield of 0.12%.
In related news, CFO Steven S. Sintros sold 1,059 shares of the company’s stock in a transaction that occurred on Monday, May 23rd. The stock was sold at an average price of $111.00, for a total value of $117,549.00. Following the sale, the chief financial officer now owns 2,667 shares in the company, valued at approximately $296,037. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP David A. Difillippo sold 467 shares of the company’s stock in a transaction that occurred on Monday, June 20th. The stock was sold at an average price of $113.48, for a total value of $52,995.16. Following the completion of the sale, the vice president now owns 3,824 shares in the company, valued at approximately $433,947.52. The disclosure for this sale can be found here.
Several hedge funds recently bought and sold shares of the company. State of Wisconsin Investment Board increased its stake in UniFirst Corp. by 3.1% in the fourth quarter. State of Wisconsin Investment Board now owns 19,176 shares of the company’s stock valued at $1,998,000 after buying an additional 573 shares during the last quarter. Marshall Wace LLP increased its stake in UniFirst Corp. by 20.1% in the fourth quarter. Marshall Wace LLP now owns 22,208 shares of the company’s stock valued at $2,314,000 after buying an additional 3,724 shares during the last quarter. Wells Fargo & Company MN increased its stake in UniFirst Corp. by 31.4% in the fourth quarter. Wells Fargo & Company MN now owns 89,451 shares of the company’s stock valued at $9,321,000 after buying an additional 21,367 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in UniFirst Corp. by 4.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 743,470 shares of the company’s stock valued at $77,471,000 after buying an additional 34,328 shares during the last quarter.
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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