TD Asset Management Inc. raised its stake in UniFirst Corp (NYSE:UNF) by 43.1% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 69,700 shares of the textile maker’s stock after purchasing an additional 21,000 shares during the period. TD Asset Management Inc.’s holdings in UniFirst were worth $13,143,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in UNF. Westwood Holdings Group Inc. bought a new stake in shares of UniFirst in the 1st quarter worth about $44,385,000. Janus Henderson Group PLC increased its position in shares of UniFirst by 24.0% in the 1st quarter. Janus Henderson Group PLC now owns 714,003 shares of the textile maker’s stock worth $109,599,000 after purchasing an additional 138,172 shares during the last quarter. Bessemer Group Inc. increased its position in shares of UniFirst by 321.0% in the 2nd quarter. Bessemer Group Inc. now owns 98,104 shares of the textile maker’s stock worth $18,499,000 after purchasing an additional 74,804 shares during the last quarter. Dalton Greiner Hartman Maher & Co. increased its position in shares of UniFirst by 713.5% in the 2nd quarter. Dalton Greiner Hartman Maher & Co. now owns 61,010 shares of the textile maker’s stock worth $11,505,000 after purchasing an additional 53,510 shares during the last quarter. Finally, WCM Investment Management LLC increased its position in shares of UniFirst by 60.6% in the 1st quarter. WCM Investment Management LLC now owns 126,901 shares of the textile maker’s stock worth $19,479,000 after purchasing an additional 47,863 shares during the last quarter. 77.95% of the stock is owned by institutional investors.
In other news, VP David A. Difillippo sold 883 shares of UniFirst stock in a transaction dated Thursday, May 30th. The shares were sold at an average price of $157.85, for a total value of $139,381.55. Following the completion of the transaction, the vice president now directly owns 11,162 shares of the company’s stock, valued at approximately $1,761,921.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 1.00% of the company’s stock.
UniFirst (NYSE:UNF) last posted its quarterly earnings results on Wednesday, June 26th. The textile maker reported $2.46 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.70 by $0.76. UniFirst had a net margin of 9.21% and a return on equity of 9.67%. The business had revenue of $453.72 million during the quarter, compared to analyst estimates of $441.70 million. During the same period in the previous year, the business posted $1.85 EPS. The company’s quarterly revenue was up 6.2% on a year-over-year basis. On average, research analysts predict that UniFirst Corp will post 7.66 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Friday, September 6th will be issued a $0.1125 dividend. This represents a $0.45 annualized dividend and a dividend yield of 0.22%. The ex-dividend date of this dividend is Thursday, September 5th. UniFirst’s dividend payout ratio (DPR) is presently 6.04%.
Several equities research analysts have recently weighed in on UNF shares. ValuEngine raised shares of UniFirst from a “hold” rating to a “buy” rating in a research report on Thursday, June 27th. JPMorgan Chase & Co. boosted their target price on shares of UniFirst from $155.00 to $183.00 and gave the stock a “neutral” rating in a research report on Thursday, June 27th. Finally, Zacks Investment Research raised shares of UniFirst from a “hold” rating to a “strong-buy” rating and set a $213.00 target price for the company in a research report on Saturday, June 29th.
UniFirst Company 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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