Swiss National Bank Sells 3,900 Shares of UniFirst Co. (NYSE:UNF)
Swiss National Bank lessened its stake in shares of UniFirst Co. (NYSE:UNF - Free Report) by 10.7% in the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 32,500 shares of the textile maker's stock after selling 3,900 shares during the period. Swiss National Bank owned 0.17% of UniFirst worth $5,727,000 as of its most recent SEC filing.
Several other institutional investors have also recently made changes to their positions in UNF. Covestor Ltd lifted its stake in shares of UniFirst by 187.4% during the 1st quarter. Covestor Ltd now owns 273 shares of the textile maker's stock valued at $50,000 after buying an additional 178 shares in the last quarter. Point72 Hong Kong Ltd purchased a new stake in UniFirst in the 1st quarter worth $69,000. Trifecta Capital Advisors LLC purchased a new stake in UniFirst in the 1st quarter worth $70,000. Allspring Global Investments Holdings LLC increased its stake in UniFirst by 29.7% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 454 shares of the textile maker's stock worth $80,000 after buying an additional 104 shares in the last quarter. Finally, Quantbot Technologies LP purchased a new stake in UniFirst in the 1st quarter worth $103,000. Institutional investors own 77.47% of the company's stock.
UNF has been the subject of a number of analyst reports. JPMorgan Chase & Co. cut their price target on UniFirst from $155.00 to $150.00 in a research note on Thursday, June 29th. StockNews.com initiated coverage on UniFirst in a research note on Thursday, August 17th. They issued a "hold" rating for the company. Finally, UBS Group started coverage on UniFirst in a research note on Wednesday, May 31st. They issued a "neutral" rating and a $185.00 price target for the company.
Read Our Latest Research Report on UniFirst
UniFirst stock opened at $175.09 on Wednesday. UniFirst Co. has a 1-year low of $150.50 and a 1-year high of $205.59. The firm has a market capitalization of $3.27 billion, a P/E ratio of 32.19 and a beta of 0.84. The company's 50-day moving average is $162.43 and its 200 day moving average is $172.65.
UniFirst (NYSE:UNF - Get Free Report) last posted its quarterly earnings data on Wednesday, June 28th. The textile maker reported $1.29 earnings per share for the quarter, missing analysts' consensus estimates of $1.79 by ($0.50). The firm had revenue of $576.70 million during the quarter, compared to analysts' expectations of $564.19 million. UniFirst had a return on equity of 6.03% and a net margin of 4.69%. The business's revenue for the quarter was up 12.7% compared to the same quarter last year. During the same period last year, the company earned $1.77 earnings per share. Research analysts anticipate that UniFirst Co. will post 6.92 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, September 28th. Stockholders of record on Thursday, September 7th will be given a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a dividend yield of 0.71%. The ex-dividend date is Wednesday, September 6th. UniFirst's dividend payout ratio (DPR) is presently 22.79%.
UniFirst Corporation provides workplace uniforms and protective work wear clothing in the United States, Europe, and Canada. The company operates through U.S. and Canadian Rental and Cleaning, Manufacturing, Specialty Garments Rental and Cleaning, and First Aid segments. It designs, manufactures, personalizes, rents, cleans, delivers, and sells a range of uniforms and protective clothing, including shirts, pants, jackets, coveralls, lab coats, smocks, and aprons; and specialized protective wear, such as flame resistant and high visibility garments.
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