UniFirst Corporation (UNF) To Go Ex-Dividend on November 13th

UniFirst Corporation (NYSE:UNF) announced a quarterly dividend on Friday, October 30th. Shareholders of record on Friday, November 13th will be paid a dividend of $0.3750 per share by the textile maker on Tuesday, December 15th. This represents a $1.50 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date is Friday, November 13th. This is a 2.7% increase from UniFirst’s previous quarterly dividend of $0.3650.

UniFirst has increased its dividend by an average of 0.1% annually over the last three years and has increased its dividend every year for the last 7 years. UniFirst has a payout ratio of 17.4% indicating that its dividend is sufficiently covered by earnings.

UniFirst Stock Performance

Shares of UniFirst stock traded down $1.19 during mid-day trading on Wednesday, hitting $237.31. 36,703 shares of the stock were exchanged, compared to its average volume of 270,277. UniFirst has a 12 month low of $151.51 and a 12 month high of $306.67. The company has a 50-day simple moving average of $261.22 and a 200 day simple moving average of $261.50. The company has a market capitalization of $4.29 billion, a P/E ratio of 39.46 and a beta of 0.65.

UniFirst (NYSE:UNF) last issued 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). The business had revenue of $645.01 million for the quarter, compared to the consensus estimate of $634.40 million. UniFirst had a return on equity of 6.65% and a net margin of 4.34%. The business’s revenue was up 5.0% compared to the same quarter last year. During the same quarter last year, the business posted $2.23 earnings per share. Analysts predict that UniFirst will post 8.52 EPS for the current year.

Institutional Investors Weigh In On UniFirst

Institutional investors have recently added to or reduced their stakes in the business. Heritage Family Offices LLP purchased a new position in UniFirst in the 3rd quarter valued at approximately $30,000. Integrated Wealth Concepts LLC purchased a new position in shares of UniFirst in the second quarter valued at $31,000. Longfellow Investment Management Co. LLC bought a new stake in shares of UniFirst during the 2nd quarter valued at $69,000. Global Retirement Partners LLC bought a new stake in shares of UniFirst during the 2nd quarter valued at $77,000. Finally, Nykredit A S purchased a new stake in UniFirst during the 2nd quarter worth about $110,000. 78.17% of the stock is owned by hedge funds and other institutional investors.

About UniFirst

UniFirst Corporation provides uniform rental and workplace services to businesses across a range of industries. Its programs include workwear selection, laundering, inspection, repair, and scheduled delivery, as well as sales of uniforms and related apparel. The company also supplies facility services such as floor mats, towels, restroom products, and first aid and safety supplies. Through specialized operations, UniFirst provides cleanroom garments and related services for businesses that require controlled environments.