Bank of New York Mellon Corp Sells 2,640 Shares of UniFirst Corporation $UNF

Bank of New York Mellon Corp reduced its holdings in shares of UniFirst Corporation (NYSE:UNF) by 2.3% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 112,872 shares of the textile maker’s stock after selling 2,640 shares during the period. Bank of New York Mellon Corp owned about 0.62% of UniFirst worth $28,398,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the business. Burney Co. raised its holdings in UniFirst by 1.0% in the 1st quarter. Burney Co. now owns 4,329 shares of the textile maker’s stock worth $1,089,000 after purchasing an additional 44 shares during the period. PNC Financial Services Group Inc. grew its stake in shares of UniFirst by 0.7% during the 4th quarter. PNC Financial Services Group Inc. now owns 6,876 shares of the textile maker’s stock valued at $1,326,000 after acquiring an additional 51 shares during the period. American Century Companies Inc. increased its holdings in UniFirst by 2.0% in the 2nd quarter. American Century Companies Inc. now owns 4,027 shares of the textile maker’s stock worth $758,000 after acquiring an additional 78 shares in the last quarter. Panagora Asset Management Inc. increased its holdings in UniFirst by 1.3% in the 4th quarter. Panagora Asset Management Inc. now owns 6,238 shares of the textile maker’s stock worth $1,203,000 after acquiring an additional 78 shares in the last quarter. Finally, Covestor Ltd raised its stake in UniFirst by 11.8% during the 4th quarter. Covestor Ltd now owns 768 shares of the textile maker’s stock worth $148,000 after acquiring an additional 81 shares during the period. 78.17% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

UNF has been the subject of a number of analyst reports. Weiss Ratings cut shares of UniFirst from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Thursday, July 9th. UBS Group set a $262.00 target price on shares of UniFirst in a research note on Monday, July 6th. Four investment analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $246.67.

UniFirst Stock Up 0.9%

UniFirst stock opened at $296.99 on Tuesday. The company’s 50-day moving average price is $271.27 and its 200-day moving average price is $251.77. The company has a market cap of $5.37 billion, a PE ratio of 46.84 and a beta of 0.63. UniFirst Corporation has a twelve month low of $147.66 and a twelve month high of $298.31.

UniFirst (NYSE:UNF) last announced its quarterly earnings results on Wednesday, July 1st. The textile maker reported $1.09 EPS for the quarter, missing analysts’ consensus estimates of $1.93 by ($0.84). UniFirst had a net margin of 4.65% and a return on equity of 6.44%. The business had revenue of $634.40 million during the quarter, compared to the consensus estimate of $627.66 million. During the same period in the previous year, the business posted $2.13 EPS. The firm’s revenue was up 3.9% on a year-over-year basis. As a group, sell-side analysts expect that UniFirst Corporation will post 7.49 earnings per share for the current fiscal year.

UniFirst Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, September 25th. Investors of record on Friday, September 4th will be given a $0.365 dividend. The ex-dividend date is Friday, September 4th. This represents a $1.46 dividend on an annualized basis and a yield of 0.5%. UniFirst’s dividend payout ratio (DPR) is currently 23.03%.

UniFirst 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).