Lazard Asset Management LLC Takes $648,000 Position in UniFirst Corporation $UNF

Lazard Asset Management LLC purchased a new position in UniFirst Corporation (NYSE:UNF) in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 2,576 shares of the textile maker’s stock, valued at approximately $648,000.

Other hedge funds have also recently made changes to their positions in the company. River Road Asset Management LLC raised its holdings in shares of UniFirst by 9.6% during the fourth quarter. River Road Asset Management LLC now owns 865,014 shares of the textile maker’s stock valued at $166,861,000 after purchasing an additional 75,524 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in UniFirst by 1.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 787,418 shares of the textile maker’s stock worth $151,895,000 after purchasing an additional 14,751 shares during the last quarter. Engine Capital Management LP grew its position in UniFirst by 640.5% in the 4th quarter. Engine Capital Management LP now owns 459,871 shares of the textile maker’s stock worth $88,709,000 after purchasing an additional 397,772 shares during the period. First Trust Advisors LP grew its position in UniFirst by 46.8% in the 4th quarter. First Trust Advisors LP now owns 451,194 shares of the textile maker’s stock worth $87,035,000 after purchasing an additional 143,853 shares during the period. Finally, Brandes Investment Partners LP raised its stake in UniFirst by 164.2% during the 4th quarter. Brandes Investment Partners LP now owns 367,786 shares of the textile maker’s stock valued at $70,946,000 after buying an additional 228,586 shares during the last quarter. 78.17% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

UNF has been the topic of several research analyst reports. Weiss Ratings cut UniFirst from a “buy (b-)” rating to a “hold (c+)” rating in a report on Thursday, July 9th. UBS Group set a $262.00 price objective on UniFirst in a report on Monday, July 6th. Four research analysts have rated the stock with a Hold rating, According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $246.67.

UniFirst Stock Down 0.1%

Shares of NYSE:UNF opened at $289.56 on Friday. The stock has a market capitalization of $5.24 billion, a PE ratio of 45.67 and a beta of 0.63. The firm’s 50 day moving average price is $275.88 and its 200-day moving average price is $256.86. UniFirst Corporation has a twelve month low of $147.66 and a twelve month high of $306.67.

UniFirst (NYSE:UNF) last announced its earnings results on Wednesday, July 1st. The textile maker reported $1.09 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.93 by ($0.84). UniFirst had a net margin of 4.65% and a return on equity of 6.44%. The business had revenue of $634.40 million for the quarter, compared to the consensus estimate of $627.66 million. During the same quarter last year, the firm posted $2.13 earnings per share. The business’s quarterly revenue was up 3.9% compared to the same quarter last year. Analysts expect that UniFirst Corporation will post 7.49 earnings per share for the current fiscal year.

UniFirst Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 25th. Stockholders of record on Friday, September 4th will be paid a dividend of $0.365 per share. This represents a $1.46 annualized dividend and a dividend yield of 0.5%. The ex-dividend date is Friday, September 4th. UniFirst’s dividend payout ratio (DPR) is currently 23.03%.

UniFirst 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).