Principal Financial Group Inc. Cuts Stake in Unifirst Corporation (UNF)
Principal Financial Group Inc. lowered its stake in shares of Unifirst Corporation (NYSE:UNF) by 1.1% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 125,006 shares of the textile maker’s stock after selling 1,359 shares during the period. Principal Financial Group Inc. owned about 0.62% of Unifirst Corporation worth $18,938,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds also recently added to or reduced their stakes in the company. Riverhead Capital Management LLC grew its stake in Unifirst Corporation by 83.2% during the 2nd quarter. Riverhead Capital Management LLC now owns 1,099 shares of the textile maker’s stock valued at $155,000 after acquiring an additional 499 shares in the last quarter. Huntington National Bank grew its stake in Unifirst Corporation by 6.4% during the 2nd quarter. Huntington National Bank now owns 1,285 shares of the textile maker’s stock valued at $181,000 after acquiring an additional 77 shares in the last quarter. Shelton Capital Management purchased a new stake in Unifirst Corporation during the 2nd quarter valued at about $216,000. KCG Holdings Inc. purchased a new stake in Unifirst Corporation during the 1st quarter valued at about $235,000. Finally, Amalgamated Bank grew its stake in Unifirst Corporation by 2.0% during the 2nd quarter. Amalgamated Bank now owns 2,086 shares of the textile maker’s stock valued at $294,000 after acquiring an additional 40 shares in the last quarter. 73.15% of the stock is owned by institutional investors and hedge funds.
Shares of Unifirst Corporation (UNF) traded up $1.05 during midday trading on Friday, reaching $157.55. 21,028 shares of the company traded hands, compared to its average volume of 58,096. Unifirst Corporation has a one year low of $124.85 and a one year high of $162.40. The stock has a market cap of $3,173.04, a PE ratio of 29.64, a PEG ratio of 2.97 and a beta of 0.74.
Unifirst Corporation (NYSE:UNF) last posted its earnings results on Wednesday, October 18th. The textile maker reported $1.44 earnings per share for the quarter, beating the consensus estimate of $1.24 by $0.20. The company had revenue of $403.60 million for the quarter, compared to analyst estimates of $392.15 million. Unifirst Corporation had a net margin of 4.40% and a return on equity of 7.53%. Unifirst Corporation’s revenue was up 10.9% on a year-over-year basis. During the same period in the previous year, the business posted $1.27 EPS. analysts predict that Unifirst Corporation will post 5.26 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, January 5th. Shareholders of record on Friday, December 8th will be issued a $0.0375 dividend. The ex-dividend date is Thursday, December 7th. This represents a $0.15 annualized dividend and a yield of 0.10%. Unifirst Corporation’s payout ratio is 4.37%.
Several brokerages recently issued reports on UNF. Zacks Investment Research cut shares of Unifirst Corporation from a “hold” rating to a “strong sell” rating in a research note on Saturday, October 21st. Northcoast Research reaffirmed a “neutral” rating on shares of Unifirst Corporation in a research note on Thursday, October 19th. Finally, Robert W. Baird upped their price objective on shares of Unifirst Corporation from $163.00 to $171.00 and gave the company an “outperform” rating in a research note on Thursday, October 19th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and one has given a buy rating to the stock. Unifirst Corporation currently has a consensus rating of “Hold” and a consensus target price of $165.00.
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Unifirst Corporation Company Profile
UniFirst Corporation is a provider of workplace uniforms and protective work wear clothing in the United States. The Company designs, manufactures, personalizes, rents, cleans, delivers, and sells a range of uniforms and protective clothing, including shirts, pants, jackets, coveralls, lab coats, smocks, aprons and specialized protective wear, such as flame resistant and high visibility garments.
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