Moran Wealth Management LLC Sells 9,777 Shares of UniFirst Corporation $UNF

Moran Wealth Management LLC trimmed its position in shares of UniFirst Corporation (NYSE:UNF) by 47.4% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,865 shares of the textile maker’s stock after selling 9,777 shares during the quarter. Moran Wealth Management LLC owned 0.06% of UniFirst worth $2,734,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Elevation Point Wealth Partners LLC purchased a new position in UniFirst in the first quarter worth about $332,000. Strs Ohio lifted its stake in shares of UniFirst by 466.7% in the 1st quarter. Strs Ohio now owns 1,700 shares of the textile maker’s stock worth $428,000 after purchasing an additional 1,400 shares during the period. Louisiana State Employees Retirement System bought a new position in shares of UniFirst in the 1st quarter worth approximately $1,610,000. Pullen Investment Management LLC boosted its holdings in shares of UniFirst by 1.2% in the first quarter. Pullen Investment Management LLC now owns 14,017 shares of the textile maker’s stock worth $3,527,000 after buying an additional 172 shares during the last quarter. Finally, Rockefeller Capital Management L.P. boosted its holdings in shares of UniFirst by 2,749.2% in the fourth quarter. Rockefeller Capital Management L.P. now owns 1,681 shares of the textile maker’s stock worth $325,000 after buying an additional 1,622 shares during the last quarter. 78.17% of the stock is currently owned by hedge funds and other institutional investors.

UniFirst Price Performance

Shares of NYSE UNF opened at $273.65 on Monday. The stock has a market cap of $4.95 billion, a PE ratio of 43.16 and a beta of 0.63. UniFirst Corporation has a 1 year low of $147.66 and a 1 year high of $283.77. The firm has a fifty day moving average price of $263.08 and a 200-day moving average price of $241.47.

UniFirst (NYSE:UNF) last released its earnings results on Wednesday, July 1st. The textile maker reported $1.09 earnings per share for the quarter, missing analysts’ consensus estimates of $1.93 by ($0.84). The firm had revenue of $634.40 million for the quarter, compared to analysts’ expectations of $627.66 million. UniFirst had a net margin of 4.65% and a return on equity of 6.44%. The firm’s quarterly revenue was up 3.9% compared to the same quarter last year. During the same quarter last year, the firm posted $2.13 EPS. On average, research analysts expect that UniFirst Corporation will post 7.49 EPS for the current year.

UniFirst Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 26th. Stockholders of record on Friday, June 5th were given a $0.365 dividend. This represents a $1.46 annualized dividend and a dividend yield of 0.5%. The ex-dividend date was Friday, June 5th. UniFirst’s payout ratio is presently 23.03%.

Wall Street Analyst Weigh In

A number of analysts have commented on UNF shares. Weiss Ratings raised shares of UniFirst from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday, May 28th. UBS Group boosted their price objective on shares of UniFirst from $206.00 to $260.00 and gave the company a “neutral” rating in a research report on Thursday, April 2nd. Finally, 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 research report on Thursday, March 12th. One analyst has rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average 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).