UniFirst Corporation $UNF Holdings Increased by Engine Capital Management LP

Engine Capital Management LP increased its holdings in UniFirst Corporation (NYSE:UNF) by 640.5% in the fourth quarter, HoldingsChannel.com reports. The firm owned 459,871 shares of the textile maker’s stock after buying an additional 397,772 shares during the quarter. UniFirst makes up 12.2% of Engine Capital Management LP’s holdings, making the stock its 3rd biggest holding. Engine Capital Management LP’s holdings in UniFirst were worth $88,709,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of UNF. Geneos Wealth Management Inc. raised 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 worth $27,000 after purchasing an additional 128 shares during the period. Modus Advisors LLC acquired a new position in UniFirst in the 4th quarter worth about $28,000. EverSource Wealth Advisors LLC raised its holdings in UniFirst by 378.1% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 153 shares of the textile maker’s stock worth $29,000 after purchasing an additional 121 shares during the period. Danske Bank A S acquired a new position in UniFirst in the 3rd quarter worth about $33,000. Finally, Brown Brothers Harriman & Co. raised its holdings in UniFirst by 1,244.0% in the 3rd quarter. Brown Brothers Harriman & Co. now owns 336 shares of the textile maker’s stock worth $56,000 after purchasing an additional 311 shares during the period. Institutional investors and hedge funds own 78.17% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the company. UBS Group upped their price target on UniFirst from $206.00 to $260.00 and gave the stock a “neutral” rating in a report on Thursday, April 2nd. Barclays upped their price target on UniFirst from $250.00 to $280.00 and gave the stock an “equal weight” rating in a report on Thursday, March 12th. Finally, Weiss Ratings raised UniFirst from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday, May 28th. One equities research analyst has rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $228.25.

UniFirst Price Performance

Shares of UniFirst stock opened at $260.09 on Thursday. The business has a 50 day simple moving average of $261.81 and a two-hundred day simple moving average of $234.17. UniFirst Corporation has a 12 month low of $147.66 and a 12 month high of $283.77. The stock has a market capitalization of $4.70 billion, a P/E ratio of 35.24 and a beta of 0.63.

UniFirst (NYSE:UNF) last announced its earnings results on Wednesday, April 1st. The textile maker reported $1.13 EPS for the quarter, missing analysts’ consensus estimates of $1.21 by ($0.08). UniFirst had a net margin of 5.49% and a return on equity of 6.49%. The firm had revenue of $622.51 million for the quarter, compared to analyst estimates of $614.91 million. During the same period in the previous year, the company earned $1.31 EPS. UniFirst’s revenue was up 3.4% compared to the same quarter last year. As a group, research analysts anticipate that UniFirst Corporation will post 7.21 EPS for the current fiscal year.

UniFirst Announces Dividend

The company 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 dividend of $0.365 per share. The ex-dividend date of this dividend is Friday, June 5th. This represents a $1.46 dividend on an annualized basis and a dividend yield of 0.6%. UniFirst’s dividend payout ratio is presently 19.78%.

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).