Corient Private Wealth LP Takes $3.65 Million Position in UniFirst Corporation $UNF

Key Points

• Corient Private Wealth LP acquired 13,816 UniFirst shares worth approximately $3.65 million, while institutional investors collectively own 78.17% of the company.
• Analysts maintain a consensus “Hold” rating with a target price of $246.67; UniFirst recently traded at $277.23 after reporting quarterly EPS of $1.09, below the $1.93 consensus estimate, despite revenue exceeding expectations.
• UniFirst declared a quarterly dividend of $0.365 per share, equivalent to an annualized $1.46 dividend and a 0.5% yield.

Corient Private Wealth LP purchased a new stake in shares of UniFirst Corporation (NYSE:UNF - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 13,816 shares of the textile maker's stock, valued at approximately $3,654,000. Corient Private Wealth LP owned approximately 0.08% of UniFirst as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Modus Advisors LLC bought a new stake in shares of UniFirst in the 4th quarter worth $28,000. EverSource Wealth Advisors LLC increased its holdings in UniFirst by 378.1% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 153 shares of the textile maker's stock worth $29,000 after buying an additional 121 shares in the last quarter. Geneos Wealth Management Inc. increased its holdings in UniFirst by 474.1% in the 1st quarter. Geneos Wealth Management Inc. now owns 155 shares of the textile maker's stock worth $27,000 after buying an additional 128 shares in the last quarter. Danske Bank A S purchased a new position in UniFirst in the 3rd quarter worth about $33,000. Finally, Longfellow Investment Management Co. LLC bought a new position in UniFirst during the 2nd quarter valued at about $69,000. 78.17% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

UNF has been the topic of a number of recent analyst reports. Weiss Ratings downgraded shares of 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 shares of UniFirst in a report on Monday, July 6th. Four research analysts have rated the stock with a Hold rating, According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $246.67.

UniFirst Price Performance

Shares of UniFirst stock opened at $277.23 on Wednesday. UniFirst Corporation has a 1-year low of $147.66 and a 1-year high of $306.67. The company's fifty day simple moving average is $283.60 and its 200-day simple moving average is $266.68. The stock has a market capitalization of $5.01 billion, a PE ratio of 43.73 and a beta of 0.61.

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

UniFirst Announces Dividend

The business also recently disclosed 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 dividend on an annualized basis 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%.

UniFirst Profile

UniFirst Corporation NYSE: UNF is a leading provider of customized uniform rental and facility service programs in North America and Europe. The company specializes in the rental, laundering and maintenance of workwear, corporate apparel and protective garments for a broad range of industries, including manufacturing, automotive, hospitality, healthcare and food processing. UniFirst also offers a suite of facility service products such as entrance mats, restroom supplies, wipers, mops and hygienic services designed to help customers maintain clean and safe environments.

In addition to its core uniform rental business, UniFirst has expanded its product portfolio to include safety and first-responder gear, flame-resistant clothing, high-visibility apparel and personal protective equipment (PPE).

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