Levin Capital Strategies L.P. Takes Position in UniFirst Corporation $UNF

Levin Capital Strategies L.P. purchased a new position in UniFirst Corporation (NYSE:UNF) in the fourth quarter, Holdings Channel reports. The fund purchased 25,519 shares of the textile maker’s stock, valued at approximately $4,923,000.

Other hedge funds have also bought and sold shares of the company. Geneos Wealth Management Inc. grew its stake in UniFirst by 474.1% in the first quarter. Geneos Wealth Management Inc. now owns 155 shares of the textile maker’s stock worth $27,000 after purchasing an additional 128 shares in the last quarter. EverSource Wealth Advisors LLC grew its stake in UniFirst by 378.1% in the second quarter. EverSource Wealth Advisors LLC now owns 153 shares of the textile maker’s stock worth $29,000 after purchasing an additional 121 shares in the last quarter. Danske Bank A S acquired a new position in UniFirst in the third quarter worth about $33,000. Cornerstone Planning Group LLC acquired a new position in UniFirst in the third quarter worth about $36,000. Finally, Brown Brothers Harriman & Co. grew its stake in UniFirst by 1,244.0% in the third quarter. Brown Brothers Harriman & Co. now owns 336 shares of the textile maker’s stock worth $56,000 after purchasing an additional 311 shares in the last quarter. 78.17% of the stock is currently owned by institutional investors and hedge funds.

UniFirst Stock Down 0.7%

Shares of NYSE UNF opened at $255.93 on Thursday. The firm’s 50-day moving average price is $255.38 and its two-hundred day moving average price is $209.92. UniFirst Corporation has a 52-week low of $147.66 and a 52-week high of $283.77. The stock has a market capitalization of $4.63 billion, a P/E ratio of 34.68 and a beta of 0.66.

UniFirst (NYSE:UNF) last issued its earnings results on Wednesday, April 1st. The textile maker reported $1.13 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.21 by ($0.08). UniFirst had a return on equity of 6.49% and a net margin of 5.49%.The business had revenue of $622.51 million during the quarter, compared to the consensus estimate of $614.91 million. During the same period in the prior year, the business earned $1.31 EPS. The business’s revenue was up 3.4% on a year-over-year basis. As a group, equities research analysts expect that UniFirst Corporation will post 7.21 earnings per share for the current year.

UniFirst Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 26th. Shareholders of record on Friday, June 5th will be issued a $0.365 dividend. The ex-dividend date of this dividend is Friday, June 5th. This represents a $1.46 dividend on an annualized basis and a yield of 0.6%. UniFirst’s dividend payout ratio (DPR) is currently 19.78%.

Insider Transactions at UniFirst

In other UniFirst news, VP David Martin Katz sold 1,464 shares of the firm’s stock in a transaction dated Tuesday, February 17th. The shares were sold at an average price of $237.54, for a total value of $347,758.56. Following the transaction, the vice president owned 6,461 shares of the company’s stock, valued at $1,534,745.94. This trade represents a 18.47% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.86% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of equities analysts recently commented on the company. UBS Group lifted their price target on UniFirst from $206.00 to $260.00 and gave the stock a “neutral” rating in a research note on Thursday, April 2nd. Robert W. Baird set a $198.00 price target on UniFirst in a research note on Thursday, January 8th. Weiss Ratings reiterated a “hold (c)” rating on shares of UniFirst in a research note on Wednesday, January 21st. Finally, Barclays lifted their price target on UniFirst from $250.00 to $280.00 and gave the stock an “equal weight” rating in a research note on Thursday, March 12th. Four research analysts have rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Reduce” and a consensus target price of $228.25.

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).