6,630 Shares in Unifirst Corporation (NYSE:UNF) Bought by SG Americas Securities LLC

SG Americas Securities LLC acquired a new stake in Unifirst Corporation (NYSE:UNF) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 6,630 shares of the textile maker’s stock, valued at approximately $1,154,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. GAMMA Investing LLC raised its holdings in shares of Unifirst by 59.9% during the 1st quarter. GAMMA Investing LLC now owns 227 shares of the textile maker’s stock valued at $39,000 after buying an additional 85 shares during the period. Blue Trust Inc. grew its position in Unifirst by 1,105.3% in the fourth quarter. Blue Trust Inc. now owns 229 shares of the textile maker’s stock valued at $39,000 after acquiring an additional 210 shares in the last quarter. Smartleaf Asset Management LLC raised its stake in shares of Unifirst by 252.0% during the fourth quarter. Smartleaf Asset Management LLC now owns 345 shares of the textile maker’s stock valued at $59,000 after purchasing an additional 247 shares during the period. Jones Financial Companies Lllp lifted its position in shares of Unifirst by 187.2% during the fourth quarter. Jones Financial Companies Lllp now owns 359 shares of the textile maker’s stock worth $61,000 after purchasing an additional 234 shares in the last quarter. Finally, Sterling Capital Management LLC boosted its stake in shares of Unifirst by 811.5% in the fourth quarter. Sterling Capital Management LLC now owns 474 shares of the textile maker’s stock valued at $81,000 after purchasing an additional 422 shares during the period. Institutional investors and hedge funds own 78.17% of the company’s stock.

Unifirst Price Performance

Shares of UNF stock opened at $185.30 on Wednesday. The firm has a fifty day moving average of $182.19 and a two-hundred day moving average of $193.77. The firm has a market cap of $3.44 billion, a P/E ratio of 23.05 and a beta of 0.87. Unifirst Corporation has a 1-year low of $150.83 and a 1-year high of $243.70.

Unifirst (NYSE:UNF) last posted its quarterly earnings results on Wednesday, April 2nd. The textile maker reported $1.31 EPS for the quarter, missing analysts’ consensus estimates of $1.34 by ($0.03). Unifirst had a return on equity of 7.46% and a net margin of 6.13%. The firm had revenue of $602.20 million during the quarter, compared to analyst estimates of $602.81 million. During the same quarter last year, the business posted $1.09 earnings per share. The firm’s revenue for the quarter was up 1.9% on a year-over-year basis. On average, sell-side analysts expect that Unifirst Corporation will post 7.71 EPS for the current year.

Unifirst Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, June 27th. Shareholders of record on Friday, June 6th will be paid a $0.35 dividend. The ex-dividend date is Friday, June 6th. This represents a $1.40 dividend on an annualized basis and a yield of 0.76%. Unifirst’s payout ratio is currently 17.41%.

Unifirst announced that its Board of Directors has initiated a stock repurchase program on Tuesday, April 8th that authorizes the company to repurchase $100.00 million in outstanding shares. This repurchase authorization authorizes the textile maker to reacquire up to 3.3% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s management believes its stock is undervalued.

Analyst Ratings Changes

Several equities research analysts recently issued reports on UNF shares. Robert W. Baird dropped their price target on shares of Unifirst from $218.00 to $197.00 and set a “neutral” rating on the stock in a research note on Thursday, April 3rd. UBS Group lifted their target price on Unifirst from $194.00 to $196.00 and gave the stock a “neutral” rating in a research report on Thursday, April 3rd. Finally, Barclays reissued an “underweight” rating and issued a $152.00 price target (down previously from $180.00) on shares of Unifirst in a report on Friday, April 4th. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $180.00.

About Unifirst

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.