Vest Financial LLC Sells 9,501 Shares of UniFirst Corporation $UNF

Vest Financial LLC lowered its position in shares of UniFirst Corporation (NYSE:UNF) by 47.8% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 10,395 shares of the textile maker’s stock after selling 9,501 shares during the quarter. Vest Financial LLC’s holdings in UniFirst were worth $2,604,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. BlackRock Inc. bought a new position in UniFirst during the second quarter valued at about $580,008,000. State Street Corp grew its stake in shares of UniFirst by 2.9% during the 2nd quarter. State Street Corp now owns 584,085 shares of the textile maker’s stock worth $154,467,000 after acquiring an additional 16,208 shares during the period. Bank of America Corp DE increased its holdings in UniFirst by 4.3% in the 2nd quarter. Bank of America Corp DE now owns 158,466 shares of the textile maker’s stock worth $41,908,000 after acquiring an additional 6,541 shares during the last quarter. Bank of New York Mellon Corp purchased a new stake in UniFirst in the 2nd quarter worth about $30,584,000. Finally, Squarepoint Ops LLC raised its stake in UniFirst by 75.8% in the 2nd quarter. Squarepoint Ops LLC now owns 107,196 shares of the textile maker’s stock valued at $28,349,000 after acquiring an additional 46,221 shares during the period. Hedge funds and other institutional investors own 78.17% of the company’s stock.

UniFirst Trading Up 0.9%

Shares of NYSE:UNF opened at $281.39 on Friday. The company has a 50 day moving average of $269.52 and a 200 day moving average of $270.03. The stock has a market cap of $5.09 billion, a P/E ratio of 46.82 and a beta of 0.60. UniFirst Corporation has a 12 month low of $147.66 and a 12 month high of $306.67.

UniFirst (NYSE:UNF) last released its quarterly earnings results on Wednesday, October 21st. The textile maker reported $1.90 EPS for the quarter, missing analysts’ consensus estimates of $2.04 by ($0.14). UniFirst had a net margin of 4.34% and a return on equity of 6.65%. The firm had revenue of $645.01 million for the quarter, compared to analysts’ expectations of $634.40 million. During the same quarter last year, the firm earned $2.23 earnings per share. The firm’s revenue for the quarter was up 5.0% on a year-over-year basis. On average, equities analysts forecast that UniFirst Corporation will post 8.52 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

UNF has been the topic of several recent research reports. UBS Group set a $262.00 price objective on shares of UniFirst in a report on Monday, July 6th. Weiss Ratings restated a “hold (c+)” rating on shares of UniFirst in a research note on Tuesday, October 6th. Four investment analysts have rated the stock with a Hold rating. According to data from MarketBeat, UniFirst presently has a consensus rating of “Hold” and an average price target of $246.67.

UniFirst Profile

UniFirst Corporation (NYSE: UNF) provides workplace uniforms, workwear rental, and textile services to businesses and organizations. Its offerings include uniform rental and laundering, work garments, protective apparel, floor mats, restroom supplies, first-aid products, and other workplace service programs.

The company also provides specialized apparel and services for industries with particular cleanliness or safety requirements, including healthcare, manufacturing, food processing, and cleanroom environments.