CIBC Private Wealth Group LLC Boosts Position in UniFirst Corporation $UNF

CIBC Private Wealth Group LLC raised its position in UniFirst Corporation (NYSE:UNF) by 53.0% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 37,411 shares of the textile maker’s stock after purchasing an additional 12,965 shares during the period. CIBC Private Wealth Group LLC owned about 0.20% of UniFirst worth $6,255,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the company. CIBC Bancorp USA Inc. acquired a new position in shares of UniFirst during the 3rd quarter worth $269,000. Danske Bank A S acquired a new stake in UniFirst in the 3rd quarter valued at about $33,000. Advisory Services Network LLC purchased a new position in UniFirst during the 3rd quarter valued at about $57,000. CANADA LIFE ASSURANCE Co raised its position in UniFirst by 2.3% during the third quarter. CANADA LIFE ASSURANCE Co now owns 12,909 shares of the textile maker’s stock worth $2,149,000 after acquiring an additional 290 shares during the last quarter. Finally, Verition Fund Management LLC raised its position in UniFirst by 24.5% during the third quarter. Verition Fund Management LLC now owns 16,767 shares of the textile maker’s stock worth $2,803,000 after acquiring an additional 3,297 shares during the last quarter. Hedge funds and other institutional investors own 78.17% of the company’s stock.

UniFirst Price Performance

UNF stock opened at $260.55 on Friday. The company’s 50 day simple moving average is $230.73 and its 200-day simple moving average is $192.43. The firm has a market capitalization of $4.71 billion, a P/E ratio of 34.46 and a beta of 0.69. UniFirst Corporation has a 52-week low of $147.66 and a 52-week high of $283.77.

UniFirst (NYSE:UNF) last released its earnings results on Wednesday, January 7th. The textile maker reported $1.89 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.05 by ($0.16). UniFirst had a return on equity of 6.68% and a net margin of 5.70%.The company had revenue of $621.32 million during the quarter, compared to analysts’ expectations of $615.23 million. During the same quarter in the previous year, the company earned $2.31 EPS. The firm’s quarterly revenue was up 2.7% compared to the same quarter last year. UniFirst has set its FY 2026 guidance at 6.580-6.980 EPS. Sell-side analysts predict that UniFirst Corporation will post 7.71 EPS for the current fiscal year.

UniFirst Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 27th. Stockholders of record on Friday, March 6th will be paid a $0.365 dividend. The ex-dividend date is Friday, March 6th. This represents a $1.46 annualized dividend and a dividend yield of 0.6%. UniFirst’s dividend payout ratio (DPR) is presently 19.31%.

Insider Transactions at UniFirst

In related news, VP David Martin Katz sold 1,464 shares of the business’s stock in a transaction dated 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 directly owned 6,461 shares in the company, valued at $1,534,745.94. The trade was a 18.47% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.86% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several analysts have issued reports on UNF shares. Zacks Research raised shares of UniFirst from a “strong sell” rating to a “hold” rating in a report on Monday, December 22nd. UBS Group lifted their price objective on UniFirst from $182.00 to $206.00 and gave the stock a “neutral” rating in a research report on Thursday, January 8th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of UniFirst in a research note on Wednesday, January 21st. Barclays increased their target price on UniFirst from $250.00 to $280.00 and gave the company an “equal weight” rating in a report on Thursday, March 12th. Finally, Robert W. Baird set a $198.00 price target on UniFirst in a research report on Thursday, January 8th. Five investment analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Reduce” and an average price target of $214.75.

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).