UniFirst Co. (NYSE:UNF) Holdings Reduced by BNP Paribas Financial Markets

BNP Paribas Financial Markets decreased its holdings in shares of UniFirst Co. (NYSE:UNF - Free Report) by 58.7% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,155 shares of the textile maker's stock after selling 3,066 shares during the quarter. BNP Paribas Financial Markets' holdings in UniFirst were worth $369,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in UNF. Independence Bank of Kentucky acquired a new position in UniFirst in the 4th quarter worth $34,000. Blue Trust Inc. lifted 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 worth $39,000 after buying an additional 210 shares in the last quarter. Smartleaf Asset Management LLC lifted 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 worth $59,000 after buying an additional 247 shares in the last quarter. Jones Financial Companies Lllp lifted 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 worth $61,000 after buying an additional 234 shares in the last quarter. Finally, Sterling Capital Management LLC lifted 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 worth $81,000 after buying an additional 422 shares in the last quarter. Institutional investors and hedge funds own 78.17% of the company's stock.

UniFirst Stock Up 0.2%

Shares of UNF traded up $0.39 during midday trading on Friday, hitting $188.90. The company had a trading volume of 130,624 shares, compared to its average volume of 105,517. The company's 50 day moving average price is $178.01 and its 200 day moving average price is $194.70. The stock has a market cap of $3.51 billion, a price-to-earnings ratio of 24.16 and a beta of 0.87. UniFirst Co. has a 52 week low of $149.58 and a 52 week high of $243.70.

UniFirst (NYSE:UNF - Get Free Report) last released its earnings results on Wednesday, April 2nd. The textile maker reported $1.31 earnings per share for the quarter, missing the consensus estimate of $1.34 by ($0.03). The company had revenue of $602.20 million during the quarter, compared to the consensus estimate of $602.81 million. UniFirst had a return on equity of 7.40% and a net margin of 6.00%. UniFirst's revenue for the quarter was up 1.9% on a year-over-year basis. During the same period in the previous year, the firm posted $1.09 EPS. Equities analysts anticipate that UniFirst Co. will post 7.71 EPS for the current fiscal year.

UniFirst announced that its Board of Directors has authorized a share repurchase plan on Tuesday, April 8th that allows the company to buyback $100.00 million in shares. This buyback authorization allows the textile maker to buy up to 3.3% of its shares through open market purchases. Shares buyback plans are often an indication that the company's leadership believes its shares are undervalued.

UniFirst Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 27th. Investors of record on Friday, June 6th will be given a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 0.74%. The ex-dividend date is Friday, June 6th. UniFirst's dividend payout ratio is presently 17.41%.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. UBS Group boosted their price objective on shares of UniFirst from $194.00 to $196.00 and gave the stock a "neutral" rating in a report on Thursday, April 3rd. Barclays reiterated 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. Finally, Robert W. Baird cut their price objective on shares of UniFirst from $218.00 to $197.00 and set a "neutral" rating on the stock in a report on Thursday, April 3rd. Two analysts have rated the stock with a sell rating, two have issued a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, the company 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.