6,630 Shares in Unifirst Corporation (NYSE:UNF) Acquired by SG Americas Securities LLC

SG Americas Securities LLC acquired a new stake in Unifirst Corporation (NYSE:UNF - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 6,630 shares of the textile maker's stock, valued at approximately $1,154,000.

Other large investors also recently bought and sold shares of the company. SageView Advisory Group LLC increased its stake in shares of Unifirst by 3.1% during the fourth quarter. SageView Advisory Group LLC now owns 1,580 shares of the textile maker's stock worth $270,000 after acquiring an additional 48 shares during the period. Principal Securities Inc. boosted its holdings in Unifirst by 10.1% in the 4th quarter. Principal Securities Inc. now owns 740 shares of the textile maker's stock valued at $127,000 after purchasing an additional 68 shares in the last quarter. Cetera Investment Advisers increased its position in Unifirst by 3.1% during the 4th quarter. Cetera Investment Advisers now owns 2,231 shares of the textile maker's stock worth $382,000 after purchasing an additional 68 shares during the period. Illinois Municipal Retirement Fund raised its stake in shares of Unifirst by 0.9% during the 4th quarter. Illinois Municipal Retirement Fund now owns 8,140 shares of the textile maker's stock worth $1,393,000 after buying an additional 73 shares in the last quarter. Finally, SRS Capital Advisors Inc. lifted its holdings in shares of Unifirst by 11.1% in the 4th quarter. SRS Capital Advisors Inc. now owns 790 shares of the textile maker's stock valued at $135,000 after buying an additional 79 shares during the period. Hedge funds and other institutional investors own 78.17% of the company's stock.

Unifirst Stock Down 1.2%

NYSE UNF traded down $2.19 during mid-day trading on Wednesday, hitting $183.10. The stock had a trading volume of 113,534 shares, compared to its average volume of 106,323. The company has a 50 day simple moving average of $182.19 and a 200 day simple moving average of $193.77. The company has a market cap of $3.40 billion, a price-to-earnings ratio of 22.77 and a beta of 0.87. Unifirst Corporation has a 52-week low of $150.83 and a 52-week high of $243.70.

Unifirst (NYSE:UNF - Get Free Report) last announced its quarterly earnings results on Wednesday, April 2nd. The textile maker reported $1.31 earnings per share 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 firm had revenue of $602.20 million during the quarter, compared to analysts' expectations of $602.81 million. During the same quarter in the prior year, the business earned $1.09 EPS. The company's quarterly revenue was up 1.9% compared to the same quarter last year. As a group, equities analysts anticipate that Unifirst Corporation will post 7.71 earnings per share for the current fiscal year.

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

Unifirst Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 27th. Stockholders 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 dividend on an annualized basis and a dividend yield of 0.76%. Unifirst's dividend payout ratio (DPR) is 17.41%.

Analyst Ratings Changes

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