Charles Schwab Investment Management Inc. Sells 1,734 Shares of Unifirst Corporation $UNF

Charles Schwab Investment Management Inc. reduced its stake in Unifirst Corporation (NYSE:UNF - Free Report) by 0.7% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 235,574 shares of the textile maker's stock after selling 1,734 shares during the period. Charles Schwab Investment Management Inc. owned 1.27% of Unifirst worth $40,990,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in UNF. Bank of Montreal Can grew its holdings in shares of Unifirst by 7.9% in the 4th quarter. Bank of Montreal Can now owns 1,780 shares of the textile maker's stock valued at $305,000 after acquiring an additional 131 shares in the last quarter. Invesco Ltd. grew its holdings in shares of Unifirst by 4.0% in the 4th quarter. Invesco Ltd. now owns 77,725 shares of the textile maker's stock valued at $13,298,000 after acquiring an additional 3,017 shares in the last quarter. Renaissance Technologies LLC grew its holdings in shares of Unifirst by 36.9% in the 4th quarter. Renaissance Technologies LLC now owns 25,600 shares of the textile maker's stock valued at $4,380,000 after acquiring an additional 6,900 shares in the last quarter. Sterling Capital Management LLC grew its holdings in shares of Unifirst by 811.5% in the 4th quarter. Sterling Capital Management LLC now owns 474 shares of the textile maker's stock valued at $81,000 after acquiring an additional 422 shares in the last quarter. Finally, Summit Investment Advisors Inc. grew its holdings in shares of Unifirst by 6.8% in the 4th quarter. Summit Investment Advisors Inc. now owns 1,575 shares of the textile maker's stock valued at $269,000 after acquiring an additional 100 shares in the last quarter. Institutional investors and hedge funds own 78.17% of the company's stock.

Analysts Set New Price Targets

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

Unifirst Price Performance

UNF traded up $0.9550 during trading on Thursday, hitting $174.8450. 23,072 shares of the stock traded hands, compared to its average volume of 130,561. Unifirst Corporation has a twelve month low of $156.34 and a twelve month high of $243.70. The company has a market cap of $3.24 billion, a price-to-earnings ratio of 21.47 and a beta of 0.85. The business has a 50 day moving average price of $177.13 and a 200 day moving average price of $186.40.

Unifirst (NYSE:UNF - Get Free Report) last announced its quarterly earnings results on Wednesday, July 2nd. The textile maker reported $2.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.09 by $0.04. The company had revenue of $610.78 million during the quarter, compared to the consensus estimate of $614.50 million. Unifirst had a net margin of 6.18% and a return on equity of 7.35%. The company's revenue for the quarter was up 1.2% compared to the same quarter last year. During the same period in the prior year, the business earned $2.20 earnings per share. 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 earnings per share for the current year.

Unifirst Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 26th. Stockholders of record on Friday, September 5th 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 0.8%. The ex-dividend date of this dividend is Friday, September 5th. Unifirst's dividend payout ratio is 17.20%.

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.