UniFirst Corporation $UNF Shares Sold by California State Teachers Retirement System

California State Teachers Retirement System trimmed its stake in UniFirst Corporation (NYSE:UNF - Free Report) by 2.7% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 17,780 shares of the textile maker's stock after selling 487 shares during the period. California State Teachers Retirement System owned about 0.10% of UniFirst worth $4,702,099 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Burney Co. increased its holdings in shares of UniFirst by 1.0% during the first quarter. Burney Co. now owns 4,329 shares of the textile maker's stock worth $1,089,000 after purchasing an additional 44 shares during the period. PNC Financial Services Group Inc. increased its stake in shares of UniFirst by 0.7% in the fourth quarter. PNC Financial Services Group Inc. now owns 6,876 shares of the textile maker's stock worth $1,326,000 after buying an additional 51 shares during the period. Covestor Ltd lifted its holdings in shares of UniFirst by 11.8% during the fourth quarter. Covestor Ltd now owns 768 shares of the textile maker's stock valued at $148,000 after purchasing an additional 81 shares during the last quarter. Global Retirement Partners LLC lifted its holdings in UniFirst by 9.1% in the fourth quarter. Global Retirement Partners LLC now owns 1,314 shares of the textile maker's stock valued at $253,000 after acquiring an additional 110 shares during the period. Finally, Modus Advisors LLC bought a new stake in UniFirst in the 4th quarter valued at $28,000. Institutional investors own 78.17% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. Weiss Ratings cut UniFirst from a "buy (b-)" rating to a "hold (c+)" rating in a report on Thursday, July 9th. UBS Group set a $262.00 price objective on UniFirst in a research report on Monday, July 6th. Four analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $246.67.

UniFirst Stock Down 0.6%

Shares of UNF stock traded down $1.59 during trading hours on Tuesday, reaching $268.48. The company's stock had a trading volume of 188,256 shares, compared to its average volume of 246,103. UniFirst Corporation has a fifty-two week low of $147.66 and a fifty-two week high of $306.67. The company has a market capitalization of $4.86 billion, a price-to-earnings ratio of 42.29 and a beta of 0.61. The firm's 50 day simple moving average is $284.77 and its 200-day simple moving average is $268.99.

UniFirst (NYSE:UNF - Get Free Report) last posted its quarterly earnings data on Wednesday, July 1st. The textile maker reported $1.09 earnings per share for the quarter, missing the consensus estimate of $1.93 by ($0.84). The company had revenue of $634.40 million for the quarter, compared to analysts' expectations of $627.66 million. UniFirst had a net margin of 4.65% and a return on equity of 6.44%. The business's quarterly revenue was up 3.9% compared to the same quarter last year. During the same quarter last year, the business posted $2.13 EPS. Sell-side analysts predict that UniFirst Corporation will post 7.49 earnings per share for the current year.

UniFirst Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, September 25th. Stockholders of record on Friday, September 4th will be given a dividend of $0.365 per share. This represents a $1.46 annualized dividend and a dividend yield of 0.5%. The ex-dividend date of this dividend is Friday, September 4th. UniFirst's payout ratio is presently 23.03%.

About UniFirst

UniFirst Corporation provides workplace apparel and facility service programs for businesses and organizations. Its services include the rental, cleaning, delivery and replacement of uniforms, workwear, protective clothing and other garments designed for a range of industries and occupational environments.

The company also offers related workplace products and services, including floor mats, restroom supplies, first-aid products, safety apparel and facility care programs. UniFirst manages many of these services through local service facilities, helping customers maintain workplace clothing and supplies on a scheduled basis.

Founded in 1936, UniFirst serves customers across the United States, Canada and Europe.

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