AlphaQuest LLC Cuts Stock Position in Unifirst Corporation $UNF

Key Points

• AlphaQuest LLC reduced its stake in Unifirst Corporation by 55.0% during the first quarter, now holding shares worth $362,000.
• Unifirst's recent earnings report showed a $2.13 earnings per share (EPS), exceeding analysts' expectations while the company anticipates 7.71 EPS for the current fiscal year.
• The company announced a quarterly dividend of $0.35 per share, representing a 0.8% dividend yield with a payout ratio of 17.20%.

AlphaQuest LLC reduced its holdings in shares of Unifirst Corporation (NYSE:UNF - Free Report) by 55.0% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,079 shares of the textile maker's stock after selling 2,539 shares during the quarter. AlphaQuest LLC's holdings in Unifirst were worth $362,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently modified their holdings of UNF. Bragg Financial Advisors Inc increased its stake in shares of Unifirst by 1.5% during the 1st quarter. Bragg Financial Advisors Inc now owns 14,255 shares of the textile maker's stock worth $2,480,000 after purchasing an additional 205 shares in the last quarter. Martingale Asset Management L P lifted its position in shares of Unifirst by 14.8% in the first quarter. Martingale Asset Management L P now owns 15,267 shares of the textile maker's stock valued at $2,656,000 after acquiring an additional 1,967 shares in the last quarter. Tribune Investment Group LP boosted its stake in shares of Unifirst by 183.3% during the first quarter. Tribune Investment Group LP now owns 51,000 shares of the textile maker's stock valued at $8,874,000 after acquiring an additional 33,000 shares during the last quarter. T. Rowe Price Investment Management Inc. increased its position in Unifirst by 353.8% during the 1st quarter. T. Rowe Price Investment Management Inc. now owns 171,346 shares of the textile maker's stock worth $29,815,000 after purchasing an additional 133,588 shares in the last quarter. Finally, Voss Capital LP acquired a new position in Unifirst in the 1st quarter valued at about $28,529,000. Hedge funds and other institutional investors own 78.17% of the company's stock.

Unifirst Stock Down 1.0%

Shares of UNF stock traded down $1.75 on Tuesday, reaching $176.07. 57,931 shares of the stock were exchanged, compared to its average volume of 76,213. The stock has a market cap of $3.26 billion, a P/E ratio of 21.63 and a beta of 0.86. The firm has a 50 day moving average of $175.66 and a two-hundred day moving average of $183.53. Unifirst Corporation has a 1-year low of $156.34 and a 1-year high of $243.70.

Unifirst (NYSE:UNF - Get Free Report) last issued its earnings results on Wednesday, July 2nd. The textile maker reported $2.13 earnings per share for the quarter, beating analysts' consensus estimates of $2.09 by $0.04. Unifirst had a return on equity of 7.35% and a net margin of 6.18%.The firm had revenue of $610.78 million for the quarter, compared to analysts' expectations of $614.50 million. During the same quarter last year, the firm earned $2.20 earnings per share. The firm's revenue for the quarter was up 1.2% compared to the same quarter last year. Unifirst has set its FY 2025 guidance at 7.600-8.00 EPS. On average, equities research analysts predict that Unifirst Corporation will post 7.71 EPS for the current fiscal year.

Unifirst Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, September 26th. Stockholders of record on Friday, September 5th will be issued a dividend of $0.35 per share. The ex-dividend date is Friday, September 5th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 0.8%. Unifirst's payout ratio is presently 17.20%.

Analyst Ratings Changes

Several equities research analysts have issued reports on the stock. UBS Group decreased their price target on shares of Unifirst from $196.00 to $194.00 and set a "neutral" rating on the stock in a research note on Monday, June 30th. Barclays set a $152.00 target price on shares of Unifirst and gave the stock an "underweight" rating in a research note on Monday, June 30th. Robert W. Baird set a $197.00 price target on Unifirst in a research note on Monday, June 30th. Finally, JPMorgan Chase & Co. initiated coverage on Unifirst in a research report on Monday, July 14th. They issued an "underweight" rating and a $175.00 price objective for the company. Two research analysts have rated the stock with a Hold rating and two have issued a Sell rating to the company's stock. Based on data from MarketBeat, Unifirst has a consensus rating of "Reduce" and an average target price of $179.50.

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.