Geode Capital Management LLC Has $69.24 Million Stake in UniFirst Corporation $UNF

Geode Capital Management LLC lowered its stake in shares of UniFirst Corporation (NYSE:UNF) by 2.2% in the fourth quarter, Holdings Channel.com reports. The firm owned 358,876 shares of the textile maker’s stock after selling 8,032 shares during the period. Geode Capital Management LLC’s holdings in UniFirst were worth $69,239,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in UNF. Royal Bank of Canada boosted its stake in UniFirst by 7.8% during the 1st quarter. Royal Bank of Canada now owns 27,152 shares of the textile maker’s stock valued at $4,724,000 after purchasing an additional 1,974 shares during the last quarter. AQR Capital Management LLC boosted its stake in UniFirst by 13.4% during the 1st quarter. AQR Capital Management LLC now owns 5,069 shares of the textile maker’s stock valued at $882,000 after purchasing an additional 599 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of UniFirst by 4.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 8,966 shares of the textile maker’s stock worth $1,560,000 after buying an additional 397 shares in the last quarter. Millennium Management LLC grew its holdings in shares of UniFirst by 37.3% in the first quarter. Millennium Management LLC now owns 105,331 shares of the textile maker’s stock valued at $18,328,000 after acquiring an additional 28,589 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in shares of UniFirst by 3.9% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 34,914 shares of the textile maker’s stock valued at $6,075,000 after acquiring an additional 1,326 shares in the last quarter. Institutional investors and hedge funds own 78.17% of the company’s stock.

UniFirst Trading Down 2.0%

Shares of UNF opened at $264.58 on Tuesday. The company has a market capitalization of $4.78 billion, a price-to-earnings ratio of 35.85 and a beta of 0.63. The stock has a 50 day moving average of $259.77 and a 200 day moving average of $229.13. UniFirst Corporation has a 12 month low of $147.66 and a 12 month high of $283.77.

UniFirst (NYSE:UNF) last posted its quarterly earnings data on Wednesday, April 1st. The textile maker reported $1.13 EPS for the quarter, missing the consensus estimate of $1.21 by ($0.08). UniFirst had a net margin of 5.49% and a return on equity of 6.49%. The firm had revenue of $622.51 million during the quarter, compared to analysts’ expectations of $614.91 million. During the same quarter in the previous year, the company posted $1.31 EPS. UniFirst’s revenue for the quarter was up 3.4% on a year-over-year basis. As a group, equities research analysts predict that UniFirst Corporation will post 7.21 earnings per share for the current year.

UniFirst Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 26th. Investors 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 annualized dividend and a yield of 0.6%. UniFirst’s dividend payout ratio is presently 19.78%.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on UNF shares. UBS Group increased their price target on UniFirst from $206.00 to $260.00 and gave the company a “neutral” rating in a research report on Thursday, April 2nd. Barclays increased their price target on UniFirst from $250.00 to $280.00 and gave the company an “equal weight” rating in a research report on Thursday, March 12th. Finally, Weiss Ratings raised UniFirst from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Thursday, May 28th. One investment analyst has rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, UniFirst currently has an average rating of “Hold” and a consensus target price of $228.25.

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).