UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Decreases Stock Position in UniFirst Corporation $UNF

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC decreased its holdings in shares of UniFirst Corporation (NYSE:UNF) by 13.7% during the second quarter, Holdings Channel.com reports. The fund owned 21,845 shares of the textile maker’s stock after selling 3,475 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in UniFirst were worth $5,777,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Geneos Wealth Management Inc. raised its position in shares of UniFirst by 474.1% in the 1st quarter. Geneos Wealth Management Inc. now owns 155 shares of the textile maker’s stock valued at $27,000 after purchasing an additional 128 shares during the last quarter. Modus Advisors LLC purchased a new stake in UniFirst during the 4th quarter worth approximately $28,000. EverSource Wealth Advisors LLC grew its position in UniFirst by 378.1% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 153 shares of the textile maker’s stock worth $29,000 after purchasing an additional 121 shares during the last quarter. Danske Bank A S acquired a new position in UniFirst during the 3rd quarter valued at approximately $33,000. Finally, Brown Brothers Harriman & Co. increased its stake in UniFirst by 1,244.0% during the 3rd quarter. Brown Brothers Harriman & Co. now owns 336 shares of the textile maker’s stock valued at $56,000 after purchasing an additional 311 shares in the last quarter. Institutional investors and hedge funds own 78.17% of the company’s stock.

UniFirst Trading Up 0.0%

Shares of UNF stock opened at $275.26 on Wednesday. UniFirst Corporation has a twelve month low of $147.66 and a twelve month high of $306.67. The stock has a market cap of $4.98 billion, a P/E ratio of 43.42 and a beta of 0.61. The stock has a 50 day moving average of $284.67 and a 200 day moving average of $267.95.

UniFirst (NYSE:UNF) last issued its quarterly earnings data on Wednesday, July 1st. The textile maker reported $1.09 EPS for the quarter, missing analysts’ consensus estimates of $1.93 by ($0.84). UniFirst had a return on equity of 6.44% and a net margin of 4.65%.The firm had revenue of $634.40 million for the quarter, compared to analyst estimates of $627.66 million. During the same period in the previous year, the business earned $2.13 EPS. UniFirst’s revenue for the quarter was up 3.9% compared to the same quarter last year. On average, research analysts predict that UniFirst Corporation will post 7.49 earnings per share for the current fiscal year.

UniFirst Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 25th. Shareholders of record on Friday, September 4th will be issued a $0.365 dividend. The ex-dividend date of this dividend is Friday, September 4th. This represents a $1.46 dividend on an annualized basis and a yield of 0.5%. UniFirst’s payout ratio is presently 23.03%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on UNF shares. Weiss Ratings downgraded shares of UniFirst from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Thursday, July 9th. UBS Group set a $262.00 target price on UniFirst in a research note on Monday, July 6th. Four investment analysts have rated the stock with a Hold rating, According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $246.67.

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).