Crestline Management LP Takes $2.65 Million Position in UniFirst Corp (UNF)

Crestline Management LP bought a new position in UniFirst Corp (NYSE:UNF) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 18,533 shares of the textile maker’s stock, valued at approximately $2,652,000. Crestline Management LP owned about 0.10% of UniFirst at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the company. Geode Capital Management LLC grew its position in UniFirst by 8.7% during the 4th quarter. Geode Capital Management LLC now owns 183,667 shares of the textile maker’s stock worth $26,277,000 after purchasing an additional 14,709 shares during the last quarter. Magnus Financial Group LLC purchased a new stake in UniFirst during the 4th quarter worth approximately $214,000. California State Teachers Retirement System grew its position in UniFirst by 2.3% during the 4th quarter. California State Teachers Retirement System now owns 23,886 shares of the textile maker’s stock worth $3,417,000 after purchasing an additional 539 shares during the last quarter. Hsbc Holdings PLC grew its position in UniFirst by 14.7% during the 4th quarter. Hsbc Holdings PLC now owns 11,182 shares of the textile maker’s stock worth $1,600,000 after purchasing an additional 1,435 shares during the last quarter. Finally, Bessemer Group Inc. grew its position in UniFirst by 45.8% during the 4th quarter. Bessemer Group Inc. now owns 16,626 shares of the textile maker’s stock worth $2,379,000 after purchasing an additional 5,226 shares during the last quarter. Hedge funds and other institutional investors own 76.51% of the company’s stock.

Several research firms have weighed in on UNF. Zacks Investment Research raised shares of UniFirst from a “sell” rating to a “hold” rating in a research report on Tuesday, February 19th. Robert W. Baird dropped their target price on shares of UniFirst from $170.00 to $152.00 and set an “outperform” rating on the stock in a research report on Friday, January 4th. Finally, ValuEngine downgraded shares of UniFirst from a “buy” rating to a “hold” rating in a research report on Friday, January 4th.

NYSE:UNF opened at $138.57 on Friday. The company has a market cap of $2.65 billion, a price-to-earnings ratio of 18.60 and a beta of 0.67. UniFirst Corp has a twelve month low of $132.38 and a twelve month high of $193.05.

UniFirst (NYSE:UNF) last released its quarterly earnings data on Thursday, January 3rd. The textile maker reported $1.88 EPS for the quarter, missing the consensus estimate of $1.92 by ($0.04). The business had revenue of $438.60 million during the quarter, compared to analysts’ expectations of $433.21 million. UniFirst had a net margin of 9.44% and a return on equity of 8.69%. The firm’s revenue was up 5.5% on a year-over-year basis. During the same period last year, the company earned $1.67 earnings per share. As a group, equities analysts expect that UniFirst Corp will post 6.83 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 29th. Stockholders of record on Friday, March 8th will be issued a $0.1125 dividend. This represents a $0.45 annualized dividend and a dividend yield of 0.32%. The ex-dividend date of this dividend is Thursday, March 7th. UniFirst’s dividend payout ratio (DPR) is currently 6.04%.

UniFirst announced that its board has approved a stock repurchase plan on Thursday, January 3rd that allows the company to repurchase $100.00 million in outstanding shares. This repurchase authorization allows the textile maker to purchase up to 3.9% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors believes its shares are undervalued.

In other news, major shareholder The Ronald D. Croatti Trust – 1 sold 2,200 shares of the company’s stock in a transaction on Monday, December 17th. The shares were sold at an average price of $139.65, for a total value of $307,230.00. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, major shareholder The Ronald D. Croatti Trust – 1 sold 5,584 shares of the company’s stock in a transaction on Thursday, January 10th. The shares were sold at an average price of $137.81, for a total transaction of $769,531.04. The disclosure for this sale can be found here. Insiders sold a total of 23,946 shares of company stock worth $3,355,350 over the last ninety days. Insiders own 1.00% of the company’s stock.

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UniFirst Profile

UniFirst Corporation provides workplace uniforms and protective work wear clothing in the United States, Europe, and Canada. The company operates through U.S. Rental and Cleaning, Canadian Rental and Cleaning, Manufacturing, Specialty Garments Rental and Cleaning, and First Aid segments. It 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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Institutional Ownership by Quarter for UniFirst (NYSE:UNF)

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