UniFirst Corporation $UNF Shares Sold by Legal & General Group Plc

Legal & General Group Plc trimmed its position in shares of UniFirst Corporation (NYSE:UNF) by 5.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 39,073 shares of the textile maker’s stock after selling 2,462 shares during the period. Legal & General Group Plc’s holdings in UniFirst were worth $7,537,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in UNF. Geneos Wealth Management Inc. increased its holdings in shares of 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 buying an additional 128 shares during the last quarter. EverSource Wealth Advisors LLC increased its stake in UniFirst by 378.1% during the second quarter. EverSource Wealth Advisors LLC now owns 153 shares of the textile maker’s stock worth $29,000 after acquiring an additional 121 shares during the last quarter. Danske Bank A S acquired a new stake in UniFirst during the third quarter worth about $33,000. Cornerstone Planning Group LLC acquired a new stake in UniFirst during the third quarter worth about $36,000. Finally, Brown Brothers Harriman & Co. grew its holdings in shares of UniFirst by 1,244.0% during the 3rd 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 period. 78.17% of the stock is currently owned by institutional investors and hedge funds.

UniFirst Stock Performance

UNF stock opened at $269.72 on Friday. UniFirst Corporation has a 1 year low of $147.66 and a 1 year high of $283.77. The firm has a market cap of $4.88 billion, a P/E ratio of 36.55 and a beta of 0.63. The stock has a 50-day simple moving average of $259.52 and a 200-day simple moving average of $227.90.

UniFirst (NYSE:UNF) last posted its earnings results 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). UniFirst had a net margin of 5.49% and a return on equity of 6.49%. The company had revenue of $622.51 million during the quarter, compared to analyst estimates of $614.91 million. During the same quarter last year, the business posted $1.31 EPS. UniFirst’s quarterly revenue was up 3.4% compared to the same quarter last year. On average, equities research analysts predict that UniFirst Corporation will post 7.21 EPS for the current year.

UniFirst Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 26th. Stockholders of record on Friday, June 5th will be paid a $0.365 dividend. The ex-dividend date is Friday, June 5th. This represents a $1.46 dividend on an annualized basis and a dividend yield of 0.5%. UniFirst’s dividend payout ratio (DPR) is 19.78%.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on UNF shares. Barclays increased their target price on shares of UniFirst from $250.00 to $280.00 and gave the stock an “equal weight” rating in a research report on Thursday, March 12th. Weiss Ratings raised shares of UniFirst from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Thursday, May 28th. Finally, UBS Group increased their price objective 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. One research analyst has rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target 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).