60,259 Shares in UniFirst Corporation $UNF Acquired by Caxton Associates LLP

Key Points

• Caxton Associates LLP disclosed a new position in UniFirst, buying 60,259 shares valued at about $15.16 million, equal to roughly 0.33% of the company.
• UniFirst reported mixed quarterly results, with EPS of $1.09 missing expectations but revenue of $634.4 million slightly beating estimates and rising 3.9% year over year.
• The company declared a quarterly dividend of $0.365 per share, while analysts currently rate the stock Hold on average with a price target of $246.67, below the recent share price of $290.39.

Caxton Associates LLP purchased a new position in shares of UniFirst Corporation (NYSE:UNF - Free Report) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 60,259 shares of the textile maker's stock, valued at approximately $15,161,000. Caxton Associates LLP owned approximately 0.33% of UniFirst as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of UNF. Geneos Wealth Management Inc. lifted its position in shares of UniFirst by 474.1% during 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 last quarter. Modus Advisors LLC acquired a new stake in UniFirst in the fourth quarter valued at $28,000. EverSource Wealth Advisors LLC boosted its holdings in UniFirst by 378.1% in the second quarter. EverSource Wealth Advisors LLC now owns 153 shares of the textile maker's stock valued at $29,000 after purchasing an additional 121 shares in the last quarter. Danske Bank A S acquired a new position in shares of UniFirst in the 3rd quarter valued at $33,000. Finally, Brown Brothers Harriman & Co. increased its position in shares of UniFirst by 1,244.0% during 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 Price Performance

Shares of NYSE UNF opened at $290.39 on Friday. The firm's 50-day moving average is $270.00 and its two-hundred day moving average is $250.44. The company has a market capitalization of $5.25 billion, a PE ratio of 45.80 and a beta of 0.63. UniFirst Corporation has a 12-month low of $147.66 and a 12-month high of $295.60.

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

UniFirst Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 25th. Shareholders of record on Friday, September 4th will be issued a $0.365 dividend. The ex-dividend date is Friday, September 4th. This represents a $1.46 annualized dividend and a yield of 0.5%. UniFirst's payout ratio is 23.03%.

Wall Street Analyst Weigh In

UNF has been the subject of a number of recent research reports. UBS Group set a $262.00 price target on shares of UniFirst in a research note on Monday, July 6th. Weiss Ratings lowered shares of UniFirst from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Thursday, July 9th. Four research analysts have rated the stock with a Hold rating, According to MarketBeat, UniFirst presently has an average rating of "Hold" and an average price target of $246.67.

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).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.