UniFirst Corp. (UNF) Sees Large Volume Increase
Shares of UniFirst Corp. (NYSE:UNF) saw unusually-strong trading volume on Wednesday . Approximately 102,360 shares traded hands during mid-day trading, a decline of 1% from the previous session’s volume of 103,603 shares.The stock last traded at $131.95 and had previously closed at $132.18.
Several analysts recently issued reports on UNF shares. Zacks Investment Research upgraded UniFirst Corp. from a “sell” rating to a “hold” rating in a research note on Wednesday, May 25th. Robert W. Baird downgraded UniFirst Corp. from an “outperform” rating to a “neutral” rating and reduced their price target for the company from $125.00 to $121.00 in a research note on Friday, July 1st. Finally, JPMorgan Chase & Co. restated a “hold” rating on shares of UniFirst Corp. in a research note on Thursday, June 30th.
The firm’s 50-day moving average is $126.13 and its 200 day moving average is $115.71. The company has a market capitalization of $2.67 billion, a PE ratio of 22.51 and a beta of 0.89.
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UniFirst Corp. (NYSE:UNF) last issued its quarterly earnings data on Wednesday, June 29th. The company reported $1.49 EPS for the quarter, topping the consensus estimate of $1.35 by $0.14. The firm earned $367 million during the quarter, compared to the consensus estimate of $366.38 million. UniFirst Corp. had a return on equity of 9.19% and a net margin of 8.09%. The company’s quarterly revenue was up .6% compared to the same quarter last year. During the same period in the prior year, the business posted $1.61 earnings per share. Equities analysts anticipate that UniFirst Corp. will post $5.67 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 30th. Investors of record on Friday, September 9th will be given a dividend of $0.0375 per share. This represents a $0.15 dividend on an annualized basis and a dividend yield of 0.11%. The ex-dividend date is Wednesday, September 7th. UniFirst Corp.’s payout ratio is 2.56%.
In related news, VP David A. Difillippo sold 467 shares of the stock in a transaction that occurred on Wednesday, July 20th. The stock was sold at an average price of $114.77, for a total transaction of $53,597.59. Following the completion of the sale, the vice president now directly owns 3,824 shares of the company’s stock, valued at $438,880.48. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP David A. Difillippo sold 1,267 shares of the stock in a transaction that occurred on Tuesday, July 26th. The shares were sold at an average price of $115.48, for a total value of $146,313.16. Following the sale, the vice president now directly owns 3,512 shares of the company’s stock, valued at $405,565.76. The disclosure for this sale can be found here. Corporate insiders own 6.20% of the company’s stock.
Hedge funds have recently modified their holdings of the stock. Norges Bank acquired a new stake in shares of UniFirst Corp. during the fourth quarter worth approximately $17,946,000. Moody Aldrich Partners LLC acquired a new stake in shares of UniFirst Corp. during the first quarter worth approximately $508,000. Aperio Group LLC increased its stake in shares of UniFirst Corp. by 2.0% in the first quarter. Aperio Group LLC now owns 4,279 shares of the company’s stock worth $467,000 after buying an additional 85 shares during the last quarter. Virginia Retirement System acquired a new stake in shares of UniFirst Corp. during the first quarter worth approximately $1,309,000. Finally, Teachers Advisors Inc. increased its stake in shares of UniFirst Corp. by 1.8% in the first quarter. Teachers Advisors Inc. now owns 27,482 shares of the company’s stock worth $2,999,000 after buying an additional 485 shares during the last quarter. 73.93% of the stock is owned by institutional investors.
About UniFirst Corp.
UniFirst Corporation (UniFirst) is a provider of workplace uniforms and protective work wear clothing in the United States. The Company designs, manufactures, personalizes, rents, cleans, delivers, and sells a range of uniforms and protective clothing, including shirts, pants, jackets, coveralls, lab coats, smocks, aprons and specialized protective wear, such as flame resistant and high visibility garments.
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