Engine Capital Management LP Has $18.63 Million Holdings in UniFirst Corporation $UNF

Engine Capital Management LP decreased its position in shares of UniFirst Corporation (NYSE:UNF) by 83.9% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 74,040 shares of the textile maker’s stock after selling 385,831 shares during the quarter. UniFirst accounts for approximately 2.2% of Engine Capital Management LP’s investment portfolio, making the stock its 14th largest position. Engine Capital Management LP’s holdings in UniFirst were worth $18,628,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of UNF. Geneos Wealth Management Inc. increased its holdings in UniFirst by 474.1% in the 1st quarter. Geneos Wealth Management Inc. now owns 155 shares of the textile maker’s stock valued at $27,000 after buying an additional 128 shares during the period. Modus Advisors LLC bought a new stake in shares of UniFirst during the 4th quarter worth approximately $28,000. EverSource Wealth Advisors LLC lifted its holdings in shares of UniFirst by 378.1% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 153 shares of the textile maker’s stock worth $29,000 after acquiring an additional 121 shares during the period. Danske Bank A S acquired a new stake in shares of UniFirst during the 3rd quarter worth approximately $33,000. Finally, Brown Brothers Harriman & Co. boosted its position in shares of UniFirst by 1,244.0% during the 3rd quarter. Brown Brothers Harriman & Co. now owns 336 shares of the textile maker’s stock worth $56,000 after acquiring an additional 311 shares in the last quarter. 78.17% of the stock is currently owned by institutional investors and hedge funds.

UniFirst Stock Performance

Shares of NYSE:UNF opened at $296.99 on Tuesday. UniFirst Corporation has a 52-week low of $147.66 and a 52-week high of $298.31. The company has a market capitalization of $5.37 billion, a PE ratio of 46.84 and a beta of 0.63. The company has a fifty day moving average of $271.27 and a 200-day moving average of $251.77.

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

UniFirst Announces Dividend

The company 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 dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date of this dividend is Friday, September 4th. UniFirst’s dividend payout ratio (DPR) is presently 23.03%.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the stock. Weiss Ratings cut shares of UniFirst from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Thursday, July 9th. UBS Group set a $262.00 target price on UniFirst in a research note on Monday, July 6th. Four equities research analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $246.67.

About UniFirst

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).