Easterly Investment Partners LLC Invests $2.53 Million in UniFirst Corporation $UNF

Easterly Investment Partners LLC purchased a new position in shares of UniFirst Corporation (NYSE:UNF) in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 13,125 shares of the textile maker’s stock, valued at approximately $2,532,000. Easterly Investment Partners LLC owned 0.07% of UniFirst as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. EverSource Wealth Advisors LLC grew its stake in shares of UniFirst by 378.1% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 153 shares of the textile maker’s stock worth $29,000 after acquiring an additional 121 shares during the period. Geneos Wealth Management Inc. grew its stake in shares of UniFirst by 474.1% during the 1st quarter. Geneos Wealth Management Inc. now owns 155 shares of the textile maker’s stock worth $27,000 after acquiring an additional 128 shares during the period. Danske Bank A S bought a new position in shares of UniFirst during the 3rd quarter worth $33,000. Cornerstone Planning Group LLC bought a new position in shares of UniFirst during the 3rd quarter worth $36,000. Finally, Brown Brothers Harriman & Co. grew its stake in shares of UniFirst by 1,244.0% during the 3rd quarter. Brown Brothers Harriman & Co. now owns 336 shares of the textile maker’s stock worth $56,000 after acquiring an additional 311 shares during the period. Institutional investors own 78.17% of the company’s stock.

Wall Street Analysts Forecast Growth

UNF has been the subject of several research reports. Barclays increased their price target on UniFirst from $250.00 to $280.00 and gave the stock an “equal weight” rating in a research note on Thursday, March 12th. Weiss Ratings upgraded UniFirst from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Thursday. Finally, UBS Group raised their target price on UniFirst from $206.00 to $260.00 and gave the stock a “neutral” rating in a research note on Thursday, April 2nd. One equities research analyst has rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, UniFirst presently has a consensus rating of “Hold” and an average target price of $228.25.

UniFirst Trading Up 0.2%

Shares of NYSE:UNF opened at $265.87 on Monday. The company has a 50 day moving average of $259.20 and a 200 day moving average of $224.55. The stock has a market cap of $4.81 billion, a P/E ratio of 36.03 and a beta of 0.63. UniFirst Corporation has a 12 month low of $147.66 and a 12 month high of $283.77.

UniFirst (NYSE:UNF) last issued its quarterly earnings data on Wednesday, April 1st. The textile maker reported $1.13 EPS for the quarter, missing the consensus estimate of $1.21 by ($0.08). The firm had revenue of $622.51 million for the quarter, compared to analysts’ expectations of $614.91 million. UniFirst had a net margin of 5.49% and a return on equity of 6.49%. UniFirst’s revenue was up 3.4% on a year-over-year basis. During the same period in the prior year, the firm posted $1.31 EPS. On average, equities analysts forecast that UniFirst Corporation will post 7.21 earnings per share for the current fiscal year.

UniFirst Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 26th. Stockholders of record on Friday, June 5th will be given a dividend of $0.365 per share. This represents a $1.46 dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date is Friday, June 5th. UniFirst’s dividend payout ratio (DPR) is 19.78%.

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).