Unifirst Corporation $UNF Shares Sold by Park Avenue Securities LLC

Park Avenue Securities LLC trimmed its position in Unifirst Corporation (NYSE:UNF) by 5.5% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,864 shares of the textile maker’s stock after selling 168 shares during the period. Park Avenue Securities LLC’s holdings in Unifirst were worth $539,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently made changes to their positions in UNF. Geneos Wealth Management Inc. increased its position 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 acquiring an additional 128 shares during the period. GAMMA Investing LLC increased its position in shares of Unifirst by 59.9% in the 1st quarter. GAMMA Investing LLC now owns 227 shares of the textile maker’s stock valued at $39,000 after acquiring an additional 85 shares during the period. Fifth Third Bancorp increased its position in shares of Unifirst by 88.7% in the 1st quarter. Fifth Third Bancorp now owns 266 shares of the textile maker’s stock valued at $46,000 after acquiring an additional 125 shares during the period. PenderFund Capital Management Ltd. acquired a new position in shares of Unifirst in the 1st quarter valued at $70,000. Finally, Vestcor Inc acquired a new position in shares of Unifirst in the 1st quarter valued at $87,000. 78.17% of the stock is owned by institutional investors and hedge funds.

Unifirst Stock Up 2.1%

NYSE:UNF opened at $168.73 on Monday. Unifirst Corporation has a 52 week low of $156.34 and a 52 week high of $243.70. The stock has a market capitalization of $3.13 billion, a PE ratio of 20.73 and a beta of 0.86. The stock’s 50-day moving average price is $173.45 and its 200-day moving average price is $178.54.

Unifirst (NYSE:UNF) last posted its earnings results on Wednesday, July 2nd. The textile maker reported $2.13 EPS for the quarter, beating analysts’ consensus estimates of $2.09 by $0.04. Unifirst had a return on equity of 7.35% and a net margin of 6.18%.The firm had revenue of $610.78 million for the quarter, compared to analysts’ expectations of $614.50 million. During the same period last year, the firm earned $2.20 EPS. The company’s quarterly revenue was up 1.2% on a year-over-year basis. Unifirst has set its FY 2025 guidance at 7.600-8.00 EPS. Sell-side analysts expect that Unifirst Corporation will post 7.71 earnings per share for the current fiscal year.

Unifirst Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, September 26th. Stockholders of record on Friday, September 5th were given a dividend of $0.35 per share. The ex-dividend date was Friday, September 5th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 0.8%. Unifirst’s dividend payout ratio (DPR) is 17.20%.

Analyst Ratings Changes

Several brokerages have weighed in on UNF. Robert W. Baird set a $197.00 price target on Unifirst in a research report on Monday, June 30th. JPMorgan Chase & Co. began coverage on Unifirst in a research report on Monday, July 14th. They set an “underweight” rating and a $175.00 price target on the stock. Barclays set a $152.00 price target on Unifirst and gave the stock an “underweight” rating in a research report on Monday, June 30th. Finally, UBS Group cut their price target on Unifirst from $196.00 to $194.00 and set a “neutral” rating on the stock in a research report on Monday, June 30th. Two analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, Unifirst currently has an average rating of “Reduce” and an average price target of $179.50.

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.