WCM Investment Management CA reduced its holdings in UniFirst (NYSE:UNF) by 22.0% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 65,128 shares of the textile maker’s stock after selling 18,321 shares during the period. WCM Investment Management CA owned about 0.32% of UniFirst worth $10,528,000 at the end of the most recent quarter.
Several other hedge funds have also added to or reduced their stakes in the company. Comerica Bank boosted its holdings in shares of UniFirst by 2.3% in the 1st quarter. Comerica Bank now owns 16,427 shares of the textile maker’s stock valued at $2,660,000 after acquiring an additional 369 shares during the last quarter. Strs Ohio boosted its holdings in shares of UniFirst by 100.0% in the 4th quarter. Strs Ohio now owns 800 shares of the textile maker’s stock valued at $131,000 after acquiring an additional 400 shares during the last quarter. Meadow Creek Investment Management LLC boosted its holdings in shares of UniFirst by 24.2% in the 4th quarter. Meadow Creek Investment Management LLC now owns 2,156 shares of the textile maker’s stock valued at $355,000 after acquiring an additional 420 shares during the last quarter. First Trust Advisors LP boosted its holdings in shares of UniFirst by 4.2% in the 4th quarter. First Trust Advisors LP now owns 11,570 shares of the textile maker’s stock valued at $1,908,000 after acquiring an additional 468 shares during the last quarter. Finally, Louisiana State Employees Retirement System boosted its holdings in UniFirst by 8.1% during the fourth quarter. Louisiana State Employees Retirement System now owns 6,700 shares of the textile maker’s stock worth $1,105,000 after buying an additional 500 shares in the last quarter. 71.73% of the stock is currently owned by institutional investors and hedge funds.
Shares of UniFirst traded down $0.85, reaching $174.10, during mid-day trading on Thursday, according to Marketbeat Ratings. The company’s stock had a trading volume of 276 shares, compared to its average volume of 53,635. The stock has a market capitalization of $3.53 billion, a price-to-earnings ratio of 33.11, a price-to-earnings-growth ratio of 2.83 and a beta of 0.61. UniFirst has a 1-year low of $135.95 and a 1-year high of $178.02.
UniFirst (NYSE:UNF) last released its quarterly earnings data on Wednesday, March 28th. The textile maker reported $1.38 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.07 by $0.31. UniFirst had a net margin of 6.79% and a return on equity of 7.95%. The firm had revenue of $419.30 million during the quarter, compared to analysts’ expectations of $405.64 million. During the same period last year, the business earned $1.10 earnings per share. UniFirst’s revenue was up 7.1% compared to the same quarter last year. equities research analysts expect that UniFirst will post 6.14 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 29th. Investors of record on Friday, June 8th will be given a dividend of $0.1125 per share. This is a boost from UniFirst’s previous quarterly dividend of $0.04. This represents a $0.45 annualized dividend and a yield of 0.26%. The ex-dividend date is Thursday, June 7th. UniFirst’s dividend payout ratio (DPR) is presently 2.84%.
A number of brokerages recently issued reports on UNF. Barrington Research reissued a “hold” rating on shares of UniFirst in a report on Thursday, March 29th. Robert W. Baird reiterated a “buy” rating and issued a $183.00 target price on shares of UniFirst in a research report on Thursday, March 29th. Zacks Investment Research cut shares of UniFirst from a “buy” rating to a “hold” rating in a research report on Wednesday, March 7th. Finally, ValuEngine upgraded shares of UniFirst from a “hold” rating to a “buy” rating in a research report on Thursday, March 1st. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $186.00.
In other UniFirst news, VP David A. Difillippo sold 1,266 shares of the stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $158.95, for a total transaction of $201,230.70. Following the completion of the transaction, the vice president now owns 7,067 shares of the company’s stock, valued at $1,123,299.65. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, VP David A. Difillippo sold 1,046 shares of the stock in a transaction dated Tuesday, April 24th. The stock was sold at an average price of $161.70, for a total transaction of $169,138.20. Following the transaction, the vice president now directly owns 7,068 shares of the company’s stock, valued at approximately $1,142,895.60. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 4,359 shares of company stock valued at $698,537. 1.00% of the stock is owned by company insiders.
UniFirst Company Profile
UniFirst Corporation provides workplace uniforms and protective work wear clothing in the United States, Canada, and Europe. It operates through US Rental and Cleaning, Canadian Rental and Cleaning, Manufacturing, Specialty Garments Rental and Cleaning, and First Aid segments. The company 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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