UniFirst Co. (NYSE:UNF) Holdings Lifted by Two Sigma Investments LP

Two Sigma Investments LP boosted its position in shares of UniFirst Co. (NYSE:UNF) by 2.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 8,509 shares of the textile maker’s stock after purchasing an additional 218 shares during the period. Two Sigma Investments LP’s holdings in UniFirst were worth $1,456,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of the company. SageView Advisory Group LLC boosted its position in UniFirst by 3.1% during the fourth quarter. SageView Advisory Group LLC now owns 1,580 shares of the textile maker’s stock valued at $270,000 after purchasing an additional 48 shares during the last quarter. Principal Securities Inc. boosted its position in UniFirst by 10.1% during the fourth quarter. Principal Securities Inc. now owns 740 shares of the textile maker’s stock valued at $127,000 after purchasing an additional 68 shares during the last quarter. Cetera Investment Advisers boosted its position in UniFirst by 3.1% during the fourth quarter. Cetera Investment Advisers now owns 2,231 shares of the textile maker’s stock valued at $382,000 after purchasing an additional 68 shares during the last quarter. Illinois Municipal Retirement Fund boosted its position in UniFirst by 0.9% during the fourth quarter. Illinois Municipal Retirement Fund now owns 8,140 shares of the textile maker’s stock valued at $1,393,000 after purchasing an additional 73 shares during the last quarter. Finally, SRS Capital Advisors Inc. boosted its position in UniFirst by 11.1% during the fourth quarter. SRS Capital Advisors Inc. now owns 790 shares of the textile maker’s stock valued at $135,000 after purchasing an additional 79 shares during the last quarter. Institutional investors and hedge funds own 78.17% of the company’s stock.

UniFirst Price Performance

Shares of NYSE:UNF opened at $188.14 on Wednesday. UniFirst Co. has a fifty-two week low of $149.58 and a fifty-two week high of $243.70. The business has a 50-day moving average of $178.58 and a two-hundred day moving average of $194.59. The stock has a market capitalization of $3.49 billion, a P/E ratio of 24.06 and a beta of 0.87.

UniFirst (NYSE:UNF) last announced its quarterly earnings results on Wednesday, April 2nd. The textile maker reported $1.31 earnings per share for the quarter, missing analysts’ consensus estimates of $1.34 by ($0.03). UniFirst had a return on equity of 7.40% and a net margin of 6.00%. The company had revenue of $602.20 million during the quarter, compared to analyst estimates of $602.81 million. During the same period in the prior year, the firm earned $1.09 EPS. UniFirst’s quarterly revenue was up 1.9% on a year-over-year basis. As a group, research analysts expect that UniFirst Co. will post 7.71 EPS for the current fiscal year.

UniFirst declared that its board has authorized a stock repurchase program on Tuesday, April 8th that allows the company to buyback $100.00 million in shares. This buyback authorization allows the textile maker to reacquire up to 3.3% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board believes its shares are undervalued.

UniFirst Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 27th. Investors of record on Friday, June 6th will be given a dividend of $0.35 per share. The ex-dividend date is Friday, June 6th. This represents a $1.40 annualized dividend and a dividend yield of 0.74%. UniFirst’s dividend payout ratio is presently 17.41%.

Analyst Ratings Changes

A number of analysts recently issued reports on UNF shares. UBS Group lifted their price objective on UniFirst from $194.00 to $196.00 and gave the company a “neutral” rating in a research report on Thursday, April 3rd. Barclays reaffirmed an “underweight” rating and issued a $152.00 price target (down previously from $180.00) on shares of UniFirst in a research report on Friday, April 4th. Finally, Robert W. Baird reduced their price target on UniFirst from $218.00 to $197.00 and set a “neutral” rating for the company in a research report on Thursday, April 3rd. Two analysts have rated the stock with a sell rating, two have given a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, UniFirst currently has a consensus rating of “Hold” and an average target price of $180.00.

UniFirst Company Profile

UniFirst Corporation provides workplace uniforms and protective work wear clothing in the United States, Europe, and Canada. The company operates through U.S. and Canadian Rental and Cleaning, Manufacturing, Specialty Garments Rental and Cleaning, and First Aid segments. It designs, manufactures, personalizes, rents, cleans, delivers, and sells a range of uniforms and protective clothing, including shirts, pants, jackets, coveralls, lab coats, smocks, and aprons; and specialized protective wear, such as flame resistant and high visibility garments.