Envestnet Asset Management Inc. Trims Stock Position in Unifirst Corporation $UNF

Envestnet Asset Management Inc. decreased its stake in Unifirst Corporation (NYSE:UNF) by 7.4% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 146,837 shares of the textile maker’s stock after selling 11,813 shares during the quarter. Envestnet Asset Management Inc. owned approximately 0.79% of Unifirst worth $24,550,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the stock. Parkside Financial Bank & Trust increased its holdings in Unifirst by 285.7% in the second quarter. Parkside Financial Bank & Trust now owns 135 shares of the textile maker’s stock valued at $25,000 after buying an additional 100 shares in the last quarter. Advisors Asset Management Inc. acquired a new stake in shares of Unifirst during the 2nd quarter valued at about $25,000. Geneos Wealth Management Inc. increased its stake 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 purchasing an additional 128 shares in the last quarter. EverSource Wealth Advisors LLC increased its stake in shares of Unifirst by 378.1% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 153 shares of the textile maker’s stock valued at $29,000 after purchasing an additional 121 shares in the last quarter. Finally, Cornerstone Planning Group LLC acquired a new position in Unifirst in the 3rd quarter worth about $36,000. 78.17% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

UNF has been the topic of several recent analyst reports. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Unifirst in a report on Wednesday, January 21st. UBS Group raised their price target on shares of Unifirst from $182.00 to $206.00 and gave the company a “neutral” rating in a research note on Thursday, January 8th. Robert W. Baird set a $198.00 price objective on Unifirst in a report on Thursday, January 8th. Zacks Research raised Unifirst from a “strong sell” rating to a “hold” rating in a report on Monday, December 22nd. Finally, Barclays lowered their price target on Unifirst from $152.00 to $145.00 and set an “underweight” rating on the stock in a research note on Thursday, October 23rd. Four research analysts have rated the stock with a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Reduce” and an average price target of $181.00.

Unifirst Stock Performance

Shares of UNF opened at $239.14 on Friday. The company’s 50-day simple moving average is $200.38 and its 200-day simple moving average is $179.21. Unifirst Corporation has a 1 year low of $147.66 and a 1 year high of $241.32. The stock has a market capitalization of $4.32 billion, a PE ratio of 31.63 and a beta of 0.73.

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). The company had revenue of $621.32 million during the quarter, compared to analysts’ expectations of $615.23 million. Unifirst had a net margin of 5.70% and a return on equity of 6.68%. The company’s revenue for the quarter was up 2.7% on a year-over-year basis. During the same quarter last year, the business posted $2.31 earnings per share. Unifirst has set its FY 2026 guidance at 6.580-6.980 EPS. On average, sell-side analysts predict that Unifirst Corporation will post 7.71 earnings per share for the current year.

Unifirst Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 27th. Shareholders of record on Friday, March 6th will be given a dividend of $0.365 per share. The ex-dividend date is Friday, March 6th. This represents a $1.46 dividend on an annualized basis and a yield of 0.6%. Unifirst’s dividend payout ratio is presently 19.31%.

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).