American Century Companies Inc. Reduces Holdings in Unifirst Corporation $UNF

Key Points

• American Century Companies Inc. has significantly reduced its holdings in Unifirst Corporation by selling 185,286 shares, retaining just 3,949 shares, now valued at $687,000.
• Unifirst Corporation announced a quarterly dividend of $0.35, translating to an annualized yield of 0.8%.
• Wall Street analysts have set varying price targets for Unifirst, with Barclays at $152.00 and Robert W. Baird at $197.00, indicating a general sentiment of concern with an average rating of "Reduce."

American Century Companies Inc. trimmed its stake in shares of Unifirst Corporation (NYSE:UNF - Free Report) by 97.9% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 3,949 shares of the textile maker's stock after selling 185,286 shares during the period. American Century Companies Inc.'s holdings in Unifirst were worth $687,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Northern Trust Corp grew its position in Unifirst by 5.0% in the 4th quarter. Northern Trust Corp now owns 263,322 shares of the textile maker's stock worth $45,052,000 after purchasing an additional 12,598 shares during the period. Envestnet Asset Management Inc. grew its holdings in shares of Unifirst by 5.3% in the first quarter. Envestnet Asset Management Inc. now owns 162,751 shares of the textile maker's stock worth $28,319,000 after acquiring an additional 8,253 shares during the period. Natixis Advisors LLC increased its position in Unifirst by 4.4% during the first quarter. Natixis Advisors LLC now owns 149,762 shares of the textile maker's stock valued at $26,059,000 after acquiring an additional 6,352 shares during the last quarter. Millennium Management LLC increased its position in Unifirst by 148.4% during the fourth quarter. Millennium Management LLC now owns 76,742 shares of the textile maker's stock valued at $13,130,000 after acquiring an additional 45,850 shares during the last quarter. Finally, Principal Financial Group Inc. lifted its holdings in Unifirst by 2.6% in the first quarter. Principal Financial Group Inc. now owns 74,734 shares of the textile maker's stock valued at $13,004,000 after acquiring an additional 1,927 shares during the period. Institutional investors own 78.17% of the company's stock.

Unifirst Stock Performance

NYSE:UNF traded down $1.67 during trading hours on Wednesday, reaching $171.46. The stock had a trading volume of 81,668 shares, compared to its average volume of 75,108. The stock has a market capitalization of $3.18 billion, a PE ratio of 21.06 and a beta of 0.86. Unifirst Corporation has a 52 week low of $156.34 and a 52 week high of $243.70. The company has a 50 day moving average price of $174.56 and a two-hundred day moving average price of $182.18.

Unifirst (NYSE:UNF - Get Free Report) last posted 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. The firm had revenue of $610.78 million during the quarter, compared to analyst estimates of $614.50 million. Unifirst had a net margin of 6.18% and a return on equity of 7.35%. Unifirst's revenue for the quarter was up 1.2% compared to the same quarter last year. During the same period last year, the firm posted $2.20 earnings per share. Unifirst has set its FY 2025 guidance at 7.600-8.00 EPS. Equities research analysts predict that Unifirst Corporation will post 7.71 EPS for the current year.

Unifirst Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 26th. Investors of record on Friday, September 5th will be issued a $0.35 dividend. The ex-dividend date of this dividend is Friday, September 5th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 0.8%. Unifirst's dividend payout ratio (DPR) is presently 17.20%.

Analyst Upgrades and Downgrades

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

About Unifirst

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.