JPMorgan Chase & Co. Lowers Holdings in UniFirst Corp (UNF)
JPMorgan Chase & Co. decreased its holdings in shares of UniFirst Corp (NYSE:UNF) by 62.4% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 6,120 shares of the textile maker’s stock after selling 10,149 shares during the period. JPMorgan Chase & Co.’s holdings in UniFirst were worth $921,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in UNF. Janus Henderson Group PLC acquired a new position in UniFirst during the second quarter worth $121,138,000. Russell Investments Group Ltd. raised its holdings in UniFirst by 23.1% during the third quarter. Russell Investments Group Ltd. now owns 197,868 shares of the textile maker’s stock worth $29,971,000 after buying an additional 37,150 shares during the last quarter. Victory Capital Management Inc. raised its holdings in UniFirst by 5.3% during the third quarter. Victory Capital Management Inc. now owns 586,882 shares of the textile maker’s stock worth $88,912,000 after buying an additional 29,575 shares during the last quarter. Atlanta Capital Management Co. L L C raised its holdings in shares of UniFirst by 11.1% in the second quarter. Atlanta Capital Management Co. L L C now owns 254,924 shares of the textile maker’s stock valued at $35,868,000 after purchasing an additional 25,386 shares during the last quarter. Finally, Citadel Advisors LLC raised its holdings in shares of UniFirst by 1,195.2% in the second quarter. Citadel Advisors LLC now owns 19,467 shares of the textile maker’s stock valued at $2,739,000 after purchasing an additional 17,964 shares during the last quarter. Hedge funds and other institutional investors own 74.07% of the company’s stock.
Several brokerages have recently commented on UNF. Zacks Investment Research upgraded shares of UniFirst from a “hold” rating to a “buy” rating and set a $189.00 target price for the company in a report on Tuesday, December 26th. Northcoast Research reiterated a “neutral” rating on shares of UniFirst in a report on Thursday, October 19th. Finally, Robert W. Baird increased their target price on shares of UniFirst from $163.00 to $171.00 and gave the company an “outperform” rating in a report on Thursday, October 19th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the stock. UniFirst has an average rating of “Hold” and a consensus target price of $180.00.
Shares of UniFirst Corp (NYSE UNF) opened at $171.15 on Friday. The company has a market cap of $3,479.56, a PE ratio of 46.01, a PEG ratio of 3.17 and a beta of 0.74. UniFirst Corp has a 1-year low of $124.85 and a 1-year high of $176.15.
UniFirst (NYSE:UNF) last announced its earnings results on Wednesday, January 3rd. The textile maker reported $1.60 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.41 by $0.19. The company had revenue of $415.80 million during the quarter, compared to the consensus estimate of $404.60 million. UniFirst had a net margin of 4.69% and a return on equity of 7.72%. The firm’s revenue for the quarter was up 7.7% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.38 earnings per share. analysts expect that UniFirst Corp will post 5.41 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, March 30th. Stockholders of record on Friday, March 9th will be issued a $0.0375 dividend. The ex-dividend date of this dividend is Thursday, March 8th. This represents a $0.15 annualized dividend and a dividend yield of 0.09%. UniFirst’s dividend payout ratio is currently 4.03%.
In other news, VP Michael A. Croatti sold 1,216 shares of the stock in a transaction dated Friday, December 15th. The shares were sold at an average price of $168.99, for a total value of $205,491.84. Following the completion of the sale, the vice president now owns 3,375 shares in the company, valued at $570,341.25. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, VP David Martin Katz sold 1,060 shares of the stock in a transaction dated Monday, December 18th. The shares were sold at an average price of $168.15, for a total transaction of $178,239.00. Following the transaction, the vice president now owns 2,667 shares of the company’s stock, valued at approximately $448,456.05. The disclosure for this sale can be found here. In the last quarter, insiders sold 2,401 shares of company stock valued at $405,193. 1.00% of the stock is currently owned by corporate insiders.
UniFirst 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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