UniFirst Corp (NYSE:UNF) major shareholder Cecelia Levenstein sold 4,783 shares of the company’s stock in a transaction on Wednesday, July 11th. The stock was sold at an average price of $185.50, for a total transaction of $887,246.50. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Major shareholders that own more than 10% of a company’s stock are required to disclose their sales and purchases with the SEC.
UniFirst traded up $3.55, reaching $189.65, during trading on Thursday, MarketBeat.com reports. The stock had a trading volume of 73,912 shares, compared to its average volume of 63,923. UniFirst Corp has a 1-year low of $135.95 and a 1-year high of $193.05. The firm has a market capitalization of $3.77 billion, a P/E ratio of 35.25, a P/E/G ratio of 2.99 and a beta of 0.61.
UniFirst (NYSE:UNF) last issued its quarterly earnings data on Wednesday, June 27th. The textile maker reported $1.58 EPS for the quarter, topping analysts’ consensus estimates of $1.56 by $0.02. UniFirst had a net margin of 7.45% and a return on equity of 8.21%. The firm had revenue of $427.38 million for the quarter, compared to analyst estimates of $420.45 million. During the same quarter in the previous year, the business posted $1.19 EPS. The firm’s revenue was up 4.3% compared to the same quarter last year. research analysts predict that UniFirst Corp will post 6.23 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 28th. Shareholders of record on Friday, September 7th will be issued a $0.1125 dividend. The ex-dividend date is Thursday, September 6th. This represents a $0.45 dividend on an annualized basis and a yield of 0.24%. UniFirst’s dividend payout ratio is currently 8.52%.
UNF has been the topic of a number of recent analyst reports. Robert W. Baird boosted their price objective on shares of UniFirst from $183.00 to $198.00 and gave the stock an “outperform” rating in a report on Thursday, June 28th. Zacks Investment Research lowered shares of UniFirst from a “strong-buy” rating to a “hold” rating in a report on Wednesday, May 30th. Finally, Barrington Research reiterated a “hold” rating on shares of UniFirst in a report on Friday, June 29th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $198.00.
Hedge funds have recently modified their holdings of the business. Mesirow Financial Investment Management Equity Management acquired a new stake in shares of UniFirst in the 1st quarter valued at about $13,966,000. Deutsche Bank AG raised its stake in shares of UniFirst by 401.0% in the 4th quarter. Deutsche Bank AG now owns 102,784 shares of the textile maker’s stock valued at $16,947,000 after purchasing an additional 82,269 shares in the last quarter. Renaissance Technologies LLC raised its stake in shares of UniFirst by 55.1% in the 4th quarter. Renaissance Technologies LLC now owns 107,800 shares of the textile maker’s stock valued at $17,776,000 after purchasing an additional 38,300 shares in the last quarter. Millennium Management LLC raised its stake in shares of UniFirst by 492.4% in the 4th quarter. Millennium Management LLC now owns 38,660 shares of the textile maker’s stock valued at $6,375,000 after purchasing an additional 32,134 shares in the last quarter. Finally, BlackRock Inc. raised its stake in shares of UniFirst by 1.6% in the 1st quarter. BlackRock Inc. now owns 1,980,162 shares of the textile maker’s stock valued at $320,093,000 after purchasing an additional 31,508 shares in the last quarter. Hedge funds and other institutional investors own 71.78% of the company’s stock.
UniFirst Corporation provides workplace uniforms and protective work wear clothing in the United States, Canada, and Europe. It operates through US Rental and Cleaning, Canadian Rental and Cleaning, Manufacturing, Specialty Garments Rental and Cleaning, and First Aid segments. 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, and aprons; and specialized protective wear, such as flame resistant and high visibility garments.
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