SG Americas Securities LLC Invests $1.15 Million in Unifirst Corporation (NYSE:UNF)

SG Americas Securities LLC acquired a new stake in Unifirst Corporation (NYSE:UNF - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 6,630 shares of the textile maker's stock, valued at approximately $1,154,000.

A number of other institutional investors also recently added to or reduced their stakes in UNF. Blue Trust Inc. boosted its holdings in Unifirst by 1,105.3% in the 4th quarter. Blue Trust Inc. now owns 229 shares of the textile maker's stock valued at $39,000 after purchasing an additional 210 shares in the last quarter. GAMMA Investing LLC boosted its holdings in Unifirst by 59.9% in the 1st quarter. GAMMA Investing LLC now owns 227 shares of the textile maker's stock valued at $39,000 after purchasing an additional 85 shares in the last quarter. Smartleaf Asset Management LLC boosted its holdings in Unifirst by 252.0% in the 4th quarter. Smartleaf Asset Management LLC now owns 345 shares of the textile maker's stock valued at $59,000 after purchasing an additional 247 shares in the last quarter. Jones Financial Companies Lllp boosted its holdings in Unifirst by 187.2% in the 4th quarter. Jones Financial Companies Lllp now owns 359 shares of the textile maker's stock valued at $61,000 after purchasing an additional 234 shares in the last quarter. Finally, Sterling Capital Management LLC boosted its holdings in Unifirst by 811.5% in the 4th quarter. Sterling Capital Management LLC now owns 474 shares of the textile maker's stock valued at $81,000 after purchasing an additional 422 shares in the last quarter. Hedge funds and other institutional investors own 78.17% of the company's stock.

Unifirst Trading Up 0.2%

Shares of NYSE:UNF traded up $0.34 during trading on Friday, hitting $183.60. 285,108 shares of the stock were exchanged, compared to its average volume of 106,308. The company has a fifty day moving average price of $182.87 and a two-hundred day moving average price of $193.41. The company has a market cap of $3.41 billion, a PE ratio of 22.84 and a beta of 0.87. Unifirst Corporation has a 12-month low of $152.65 and a 12-month high of $243.70.

Unifirst (NYSE:UNF - Get Free Report) last posted its earnings results on Wednesday, April 2nd. The textile maker reported $1.31 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.34 by ($0.03). Unifirst had a net margin of 6.13% and a return on equity of 7.46%. The company had revenue of $602.20 million during the quarter, compared to analysts' expectations of $602.81 million. During the same period in the previous year, the company posted $1.09 EPS. Unifirst's quarterly revenue was up 1.9% compared to the same quarter last year. Equities research analysts anticipate that Unifirst Corporation will post 7.71 earnings per share for the current fiscal year.

Unifirst Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 27th. Shareholders of record on Friday, June 6th will be issued a $0.35 dividend. The ex-dividend date of this dividend is Friday, June 6th. This represents a $1.40 annualized dividend and a yield of 0.76%. Unifirst's dividend payout ratio (DPR) is presently 17.41%.

Unifirst declared that its Board of Directors has authorized a stock buyback plan on Tuesday, April 8th that allows the company to repurchase $100.00 million in shares. This repurchase authorization allows the textile maker to repurchase up to 3.3% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company's board believes its stock is undervalued.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on UNF shares. Barclays reaffirmed an "underweight" rating and issued a $152.00 price objective (down previously from $180.00) on shares of Unifirst in a report on Friday, April 4th. Robert W. Baird decreased their price target on Unifirst from $218.00 to $197.00 and set a "neutral" rating on the stock in a research note on Thursday, April 3rd. Finally, UBS Group boosted their price target on Unifirst from $194.00 to $196.00 and gave the stock a "neutral" rating in a research note on Thursday, April 3rd. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and one has given a buy rating to the company's stock. According to data from MarketBeat, Unifirst presently has a consensus rating of "Hold" and an average target price of $180.00.

Unifirst Company Profile

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.