Unifirst Corporation (UNF) Shares Sold by Piermont Capital Management Inc.
Piermont Capital Management Inc. trimmed its stake in shares of Unifirst Corporation (NYSE:UNF) by 9.1% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 12,820 shares of the textile maker’s stock after selling 1,290 shares during the period. Piermont Capital Management Inc. owned about 0.06% of Unifirst Corporation worth $1,804,000 as of its most recent SEC filing.
Several other large investors also recently modified their holdings of the stock. BlackRock Inc. raised its holdings in shares of Unifirst Corporation by 52,993.4% during the first quarter. BlackRock Inc. now owns 1,852,961 shares of the textile maker’s stock worth $262,102,000 after acquiring an additional 1,849,471 shares during the period. Vanguard Group Inc. raised its holdings in shares of Unifirst Corporation by 1.1% during the second quarter. Vanguard Group Inc. now owns 1,404,198 shares of the textile maker’s stock worth $197,571,000 after acquiring an additional 15,155 shares during the period. Dimensional Fund Advisors LP raised its holdings in shares of Unifirst Corporation by 5.1% during the first quarter. Dimensional Fund Advisors LP now owns 862,234 shares of the textile maker’s stock worth $121,962,000 after acquiring an additional 41,850 shares during the period. Royce & Associates LP raised its holdings in shares of Unifirst Corporation by 3.8% during the second quarter. Royce & Associates LP now owns 813,720 shares of the textile maker’s stock worth $114,490,000 after acquiring an additional 29,500 shares during the period. Finally, TPG Group Holdings SBS Advisors Inc. raised its holdings in shares of Unifirst Corporation by 7.4% during the first quarter. TPG Group Holdings SBS Advisors Inc. now owns 678,600 shares of the textile maker’s stock worth $95,988,000 after acquiring an additional 46,874 shares during the period. Institutional investors and hedge funds own 73.47% of the company’s stock.
UNF has been the topic of several recent research reports. Zacks Investment Research lowered shares of Unifirst Corporation from a “buy” rating to a “hold” rating in a research note on Thursday, June 1st. Robert W. Baird upgraded shares of Unifirst Corporation from a “neutral” rating to an “outperform” rating and lifted their price target for the company from $145.00 to $163.00 in a research note on Thursday, June 29th. Finally, BidaskClub lowered shares of Unifirst Corporation from a “hold” rating to a “sell” rating in a research note on Wednesday, July 12th.
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Shares of Unifirst Corporation (NYSE:UNF) traded down 0.41% during midday trading on Friday, reaching $144.15. 67,844 shares of the company’s stock traded hands. The firm has a market cap of $2.92 billion, a PE ratio of 26.56 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 released its quarterly earnings data on Wednesday, June 28th. The textile maker reported $1.36 earnings per share for the quarter, beating analysts’ consensus estimates of $1.34 by $0.02. Unifirst Corporation had a net margin of 7.12% and a return on equity of 7.41%. The firm had revenue of $409.80 million for the quarter, compared to analyst estimates of $396.07 million. During the same period last year, the firm earned $1.49 earnings per share. The business’s quarterly revenue was up 11.4% compared to the same quarter last year. On average, equities analysts predict that Unifirst Corporation will post $4.93 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Friday, September 8th will be paid a $0.0375 dividend. This represents a $0.15 dividend on an annualized basis and a dividend yield of 0.10%. The ex-dividend date of this dividend is Thursday, September 7th. Unifirst Corporation’s dividend payout ratio (DPR) is 2.77%.
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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