UniFirst Corporation $UNF Shares Purchased by Quantinno Capital Management LP

Quantinno Capital Management LP raised its stake in UniFirst Corporation (NYSE:UNF) by 65.8% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,589 shares of the textile maker’s stock after acquiring an additional 3,013 shares during the period. Quantinno Capital Management LP’s holdings in UniFirst were worth $1,909,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently made changes to their positions in the company. Geneos Wealth Management Inc. lifted its holdings in shares of UniFirst by 474.1% in the 1st quarter. Geneos Wealth Management Inc. now owns 155 shares of the textile maker’s stock valued at $27,000 after purchasing an additional 128 shares during the last quarter. Modus Advisors LLC acquired a new stake in shares of UniFirst in the 4th quarter valued at about $28,000. EverSource Wealth Advisors LLC grew its stake in UniFirst by 378.1% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 153 shares of the textile maker’s stock worth $29,000 after buying an additional 121 shares during the last quarter. Danske Bank A S purchased a new position in UniFirst during the 3rd quarter worth approximately $33,000. Finally, Brown Brothers Harriman & Co. increased its position in UniFirst by 1,244.0% during the third quarter. Brown Brothers Harriman & Co. now owns 336 shares of the textile maker’s stock worth $56,000 after buying an additional 311 shares during the period. Hedge funds and other institutional investors own 78.17% of the company’s stock.

UniFirst Stock Performance

Shares of UNF opened at $291.86 on Wednesday. UniFirst Corporation has a fifty-two week low of $147.66 and a fifty-two week high of $306.67. The firm has a 50-day simple moving average of $277.43 and a 200-day simple moving average of $258.61. The company has a market capitalization of $5.28 billion, a price-to-earnings ratio of 46.03 and a beta of 0.63.

UniFirst (NYSE:UNF) last issued its quarterly earnings results on Wednesday, July 1st. The textile maker reported $1.09 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.93 by ($0.84). The company 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% on a year-over-year basis. During the same quarter last year, the firm earned $2.13 EPS. Equities research analysts forecast that UniFirst Corporation will post 7.49 EPS for the current year.

UniFirst Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, September 25th. Stockholders of record on Friday, September 4th will be issued a $0.365 dividend. The ex-dividend date of this dividend is Friday, September 4th. This represents a $1.46 dividend on an annualized basis and a dividend yield of 0.5%. UniFirst’s payout ratio is presently 23.03%.

Analysts Set New Price Targets

UNF has been the subject of a number of research reports. UBS Group set a $262.00 price objective on UniFirst in a research note on Monday, July 6th. Weiss Ratings cut shares of UniFirst from a “buy (b-)” rating to a “hold (c+)” rating in a report on Thursday, July 9th. Four research analysts have rated the stock with a Hold rating, According to MarketBeat.com, the company presently has a consensus 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).