Caitong International Asset Management Co. Ltd Acquires 2,166 Shares of UniFirst Corporation $UNF

Caitong International Asset Management Co. Ltd raised its holdings in shares of UniFirst Corporation (NYSE:UNF) by 3,281.8% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 2,232 shares of the textile maker’s stock after purchasing an additional 2,166 shares during the period. Caitong International Asset Management Co. Ltd’s holdings in UniFirst were worth $431,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Quantbot Technologies LP bought a new stake in UniFirst in the 3rd quarter worth about $1,597,000. DDD Partners LLC bought a new position in UniFirst during the 4th quarter valued at about $2,614,000. Comerica Bank boosted its holdings in shares of UniFirst by 66.7% during the 4th quarter. Comerica Bank now owns 31,163 shares of the textile maker’s stock valued at $6,011,000 after acquiring an additional 12,465 shares during the last quarter. Cannon Global Investment Management LLC purchased a new stake in shares of UniFirst during the 4th quarter valued at about $1,312,000. Finally, Tweedy Browne Co LLC bought a new stake in shares of UniFirst in the fourth quarter worth approximately $19,687,000. Institutional investors own 78.17% of the company’s stock.

UniFirst Trading Down 0.1%

UNF opened at $260.83 on Friday. UniFirst Corporation has a 1-year low of $147.66 and a 1-year high of $283.77. The company has a market capitalization of $4.72 billion, a PE ratio of 35.34 and a beta of 0.63. The firm’s 50 day simple moving average is $261.97 and its two-hundred day simple moving average is $234.97.

UniFirst (NYSE:UNF) last issued its quarterly earnings data on Wednesday, April 1st. The textile maker reported $1.13 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.21 by ($0.08). The business had revenue of $622.50 million for the quarter, compared to the consensus estimate of $614.91 million. UniFirst had a net margin of 5.49% and a return on equity of 6.49%. The company’s revenue was up 3.4% on a year-over-year basis. During the same period in the previous year, the firm earned $1.31 EPS. Equities analysts forecast that UniFirst Corporation will post 7.21 earnings per share for the current fiscal year.

UniFirst Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 26th. Shareholders of record on Friday, June 5th will be issued a dividend of $0.365 per share. This represents a $1.46 annualized dividend and a yield of 0.6%. The ex-dividend date of this dividend is Friday, June 5th. UniFirst’s payout ratio is currently 19.78%.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. Barclays boosted their price objective on shares of UniFirst from $250.00 to $280.00 and gave the company an “equal weight” rating in a report on Thursday, March 12th. UBS Group lifted their target price on shares of UniFirst from $206.00 to $260.00 and gave the stock a “neutral” rating in a research report on Thursday, April 2nd. Finally, Weiss Ratings upgraded shares of UniFirst from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Thursday, May 28th. One equities research analyst has rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $228.25.

About UniFirst

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).