Horizon Investments LLC Has $1.08 Million Position in UniFirst Corporation $UNF

Horizon Investments LLC lessened its holdings in UniFirst Corporation (NYSE:UNF) by 32.0% in the fourth quarter, Holdings Channel reports. The institutional investor owned 5,591 shares of the textile maker’s stock after selling 2,634 shares during the period. Horizon Investments LLC’s holdings in UniFirst were worth $1,079,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Geneos Wealth Management Inc. grew its holdings in 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 last quarter. EverSource Wealth Advisors LLC raised its stake in shares of UniFirst by 378.1% during the second quarter. EverSource Wealth Advisors LLC now owns 153 shares of the textile maker’s stock valued at $29,000 after acquiring an additional 121 shares during the last quarter. Danske Bank A S acquired a new position in shares of UniFirst during the third quarter worth $33,000. Cornerstone Planning Group LLC acquired a new position in shares of UniFirst during the third quarter worth $36,000. Finally, Brown Brothers Harriman & Co. grew its stake in shares of UniFirst by 1,244.0% in the third quarter. Brown Brothers Harriman & Co. now owns 336 shares of the textile maker’s stock worth $56,000 after purchasing an additional 311 shares during the last quarter. 78.17% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on UNF. UBS Group increased their price objective on UniFirst from $206.00 to $260.00 and gave the company a “neutral” rating in a report on Thursday, April 2nd. Weiss Ratings reaffirmed a “hold (c)” rating on shares of UniFirst in a report on Wednesday, January 21st. Barclays increased their price target on UniFirst from $250.00 to $280.00 and gave the company an “equal weight” rating in a research note on Thursday, March 12th. Finally, Robert W. Baird set a $198.00 price objective on UniFirst in a research report on Thursday, January 8th. Four research analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Reduce” and an average price target of $228.25.

Insider Activity at UniFirst

In other news, VP David Martin Katz sold 1,464 shares of the firm’s stock in a transaction that occurred on Tuesday, February 17th. The stock was sold at an average price of $237.54, for a total value of $347,758.56. Following the transaction, the vice president owned 6,461 shares in the company, valued at $1,534,745.94. This trade represents a 18.47% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.86% of the stock is currently owned by company insiders.

UniFirst Trading Up 0.9%

UniFirst stock opened at $254.64 on Thursday. The firm has a market capitalization of $4.60 billion, a price-to-earnings ratio of 34.50 and a beta of 0.63. The firm’s fifty day moving average price is $256.47 and its two-hundred day moving average price is $212.20. UniFirst Corporation has a 1-year low of $147.66 and a 1-year high of $283.77.

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

UniFirst Announces Dividend

The business also recently disclosed 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 dividend on an annualized basis 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%.

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).