GSA Capital Partners LLP Makes New Investment in UniFirst Corporation $UNF

GSA Capital Partners LLP purchased a new position in shares of UniFirst Corporation (NYSE:UNF) in the 2nd quarter, Holdings Channel reports. The firm purchased 3,860 shares of the textile maker’s stock, valued at approximately $1,021,000.

A number of other institutional investors have also made changes to their positions in UNF. Geneos Wealth Management Inc. boosted its holdings in UniFirst by 474.1% during the first quarter. Geneos Wealth Management Inc. now owns 155 shares of the textile maker’s stock worth $27,000 after purchasing an additional 128 shares during the last quarter. Modus Advisors LLC bought a new position in UniFirst in the fourth quarter valued at $28,000. EverSource Wealth Advisors LLC increased its stake in UniFirst by 378.1% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 153 shares of the textile maker’s stock valued at $29,000 after buying an additional 121 shares during the last quarter. Danske Bank A S acquired a new stake in UniFirst in the 3rd quarter valued at $33,000. Finally, Brown Brothers Harriman & Co. lifted its position in UniFirst by 1,244.0% during the 3rd quarter. Brown Brothers Harriman & Co. now owns 336 shares of the textile maker’s stock worth $56,000 after buying an additional 311 shares in the last quarter. Institutional investors own 78.17% of the company’s stock.

UniFirst Trading Down 0.3%

NYSE UNF opened at $285.84 on Tuesday. The firm’s fifty day moving average price is $279.05 and its two-hundred day moving average price is $260.85. UniFirst Corporation has a 1 year low of $147.66 and a 1 year high of $306.67. The firm has a market capitalization of $5.17 billion, a P/E ratio of 45.09 and a beta of 0.62.

UniFirst (NYSE:UNF) last announced its quarterly earnings results on Wednesday, July 1st. The textile maker reported $1.09 EPS for the quarter, missing analysts’ consensus estimates of $1.93 by ($0.84). The firm had revenue of $634.40 million during the quarter, compared to analyst estimates of $627.66 million. UniFirst had a net margin of 4.65% and a return on equity of 6.44%. The business’s revenue was up 3.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.13 EPS. On average, research analysts anticipate that UniFirst Corporation will post 7.49 EPS for the current fiscal year.

UniFirst Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 25th. Investors of record on Friday, September 4th will be issued a dividend of $0.365 per share. The ex-dividend date is Friday, September 4th. This represents a $1.46 dividend on an annualized basis and a yield of 0.5%. UniFirst’s dividend payout ratio (DPR) is presently 23.03%.

Analysts Set New Price Targets

UNF has been the subject of several analyst reports. Weiss Ratings cut UniFirst from a “buy (b-)” rating to a “hold (c+)” rating in a report on Thursday, July 9th. UBS Group set a $262.00 target price on UniFirst in a report on Monday, July 6th. Four equities research analysts have rated the stock with a Hold rating, According to MarketBeat.com, UniFirst has an average rating of “Hold” and an average target price of $246.67.

About UniFirst

UniFirst Corporation (NYSE: UNF) is a leading provider of customized uniform rental and facility service programs in North America and Europe. The company specializes in the rental, laundering and maintenance of workwear, corporate apparel and protective garments for a broad range of industries, including manufacturing, automotive, hospitality, healthcare and food processing. UniFirst also offers a suite of facility service products such as entrance mats, restroom supplies, wipers, mops and hygienic services designed to help customers maintain clean and safe environments.

In addition to its core uniform rental business, UniFirst has expanded its product portfolio to include safety and first-responder gear, flame-resistant clothing, high-visibility apparel and personal protective equipment (PPE).