Pullen Investment Management LLC Buys 5,192 Shares of UniFirst Corporation $UNF
by Danessa Lincoln · The Markets DailyPullen Investment Management LLC lifted its stake in UniFirst Corporation (NYSE:UNF – Free Report) by 60.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 13,845 shares of the textile maker’s stock after purchasing an additional 5,192 shares during the quarter. UniFirst accounts for approximately 1.4% of Pullen Investment Management LLC’s holdings, making the stock its 22nd biggest position. Pullen Investment Management LLC’s holdings in UniFirst were worth $2,671,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Advisors Asset Management Inc. bought a new position in shares of UniFirst during the second quarter valued at $25,000. Geneos Wealth Management Inc. boosted its stake in UniFirst by 474.1% in the 1st 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 period. EverSource Wealth Advisors LLC grew its holdings in UniFirst by 378.1% during 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 in the last quarter. Danske Bank A S bought a new position in shares of UniFirst during the 3rd quarter valued at approximately $33,000. Finally, Cornerstone Planning Group LLC purchased a new stake in UniFirst during the third quarter valued at $36,000. Institutional investors own 78.17% of the company’s stock.
UniFirst Stock Performance
Shares of UniFirst stock opened at $256.39 on Friday. UniFirst Corporation has a fifty-two week low of $147.66 and a fifty-two week high of $283.77. The company has a market cap of $4.63 billion, a P/E ratio of 34.74 and a beta of 0.66. The firm has a 50-day simple moving average of $240.65 and a two-hundred day simple moving average of $198.27.
UniFirst (NYSE:UNF – Get Free Report) last announced its quarterly earnings results on Wednesday, April 1st. The textile maker reported $1.13 earnings per share for the quarter, missing the consensus estimate of $1.21 by ($0.08). The business had revenue of $622.51 million during the quarter, compared to analysts’ expectations of $614.91 million. UniFirst had a net margin of 5.49% and a return on equity of 6.49%. UniFirst’s revenue for the quarter was up 3.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.31 EPS. Equities research analysts forecast that UniFirst Corporation will post 7.71 EPS for the current year.
UniFirst Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Friday, March 27th. Stockholders of record on Friday, March 6th were paid a dividend of $0.365 per share. This represents a $1.46 annualized dividend and a dividend yield of 0.6%. The ex-dividend date of this dividend was Friday, March 6th. UniFirst’s dividend payout ratio is presently 19.78%.
Analysts Set New Price Targets
A number of analysts recently issued reports on the company. Robert W. Baird set a $198.00 price target on UniFirst in a research report on Thursday, January 8th. Zacks Research upgraded UniFirst from a “strong sell” rating to a “hold” rating in a report on Monday, December 22nd. Weiss Ratings reissued a “hold (c)” rating on shares of UniFirst in a report on Wednesday, January 21st. Barclays lifted their target price on shares of UniFirst from $250.00 to $280.00 and gave the stock an “equal weight” rating in a research note on Thursday, March 12th. Finally, UBS Group boosted their price target on UniFirst from $206.00 to $260.00 and gave the company a “neutral” rating in a research note on Thursday. Four equities research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, UniFirst presently has an average rating of “Reduce” and an average price target of $228.25.
Get Our Latest Analysis on UNF
Insider Activity
In other news, VP David Martin Katz sold 1,464 shares of the stock in a transaction that occurred on Tuesday, February 17th. The stock was sold at an average price of $237.54, for a total transaction of $347,758.56. Following the transaction, the vice president owned 6,461 shares in the company, valued at $1,534,745.94. This trade represents a 18.47% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 0.86% of the stock is owned by company insiders.
UniFirst Company Profile
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).
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