Prudential Financial Inc. Lowers Stake in Unifirst Corporation (UNF)
Prudential Financial Inc. decreased its stake in shares of Unifirst Corporation (NYSE:UNF) by 0.0% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 26,618 shares of the textile maker’s stock after selling 10 shares during the period. Prudential Financial Inc. owned approximately 0.13% of Unifirst Corporation worth $3,745,000 at the end of the most recent quarter.
Other hedge funds also recently modified their holdings of the company. Trust Co. of Vermont bought a new stake in shares of Unifirst Corporation during the second quarter worth $149,000. Huntington National Bank grew its position in Unifirst Corporation by 6.4% in the second quarter. Huntington National Bank now owns 1,285 shares of the textile maker’s stock valued at $181,000 after purchasing an additional 77 shares in the last quarter. Ameritas Investment Partners Inc. bought a new position in Unifirst Corporation in the first quarter valued at $185,000. Citadel Advisors LLC bought a new position in Unifirst Corporation in the first quarter valued at $213,000. Finally, KCG Holdings Inc. bought a new position in Unifirst Corporation in the first quarter valued at $235,000. 73.47% of the stock is owned by institutional investors.
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Unifirst Corporation (UNF) opened at 144.75 on Friday. The company has a market cap of $2.93 billion, a P/E ratio of 26.67 and a beta of 0.70. The company has a 50-day moving average of $141.00 and a 200-day moving average of $139.18. Unifirst Corporation has a 52-week low of $116.67 and a 52-week high of $147.65.
Unifirst Corporation (NYSE:UNF) last announced its quarterly earnings results on Wednesday, June 28th. The textile maker reported $1.36 EPS for the quarter, beating the Zacks’ consensus estimate of $1.34 by $0.02. The business had revenue of $409.80 million during the quarter, compared to analyst estimates of $396.07 million. Unifirst Corporation had a net margin of 7.12% and a return on equity of 7.41%. Unifirst Corporation’s quarterly revenue was up 11.4% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.49 EPS. On average, equities research analysts expect that Unifirst Corporation will post $4.93 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Friday, September 8th will be paid a dividend of $0.0375 per share. The ex-dividend date of this dividend is Thursday, September 7th. This represents a $0.15 dividend on an annualized basis and a yield of 0.10%. Unifirst Corporation’s dividend payout ratio (DPR) is presently 2.77%.
UNF has been the subject of a number of analyst reports. Zacks Investment Research downgraded shares of Unifirst Corporation from a “buy” rating to a “hold” rating in a research report on Thursday, June 1st. BidaskClub downgraded shares of Unifirst Corporation from a “hold” rating to a “sell” rating in a research report on Wednesday, July 12th. Finally, Robert W. Baird raised shares of Unifirst Corporation from a “neutral” rating to an “outperform” rating and raised their target price for the company from $145.00 to $163.00 in a research report on Thursday, June 29th.
Unifirst Corporation Company Profile
UniFirst Corporation 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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