Engineers Gate Manager LP Takes $1.09 Million Position in UniFirst Corporation $UNF

Key Points

• Engineers Gate Manager LP acquired 4,113 UniFirst shares worth approximately $1.09 million in the second quarter. Institutional investors collectively own 78.17% of the company.
• UniFirst reported quarterly revenue of $634.4 million, up 3.9% year over year and above estimates, but earnings per share of $1.09 fell well short of the $1.93 consensus forecast.
• The company declared a quarterly dividend of $0.365 per share, equal to a $1.46 annualized payout and a 0.6% yield. Analysts maintain a consensus “Hold” rating with an average price target of $246.67.

Engineers Gate Manager LP purchased a new position in shares of UniFirst Corporation (NYSE:UNF - Free Report) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 4,113 shares of the textile maker's stock, valued at approximately $1,088,000.

Several other institutional investors also recently modified their holdings of the business. Integrated Wealth Concepts LLC bought a new position in UniFirst during the 2nd quarter worth $31,000. Squarepoint Ops LLC grew its position in shares of UniFirst by 75.8% in the 2nd quarter. Squarepoint Ops LLC now owns 107,196 shares of the textile maker's stock valued at $28,349,000 after buying an additional 46,221 shares during the last quarter. Nykredit A S bought a new stake in shares of UniFirst in the 2nd quarter valued at about $110,000. Allianz Asset Management GmbH increased its stake in shares of UniFirst by 5.3% in the second quarter. Allianz Asset Management GmbH now owns 53,470 shares of the textile maker's stock valued at $14,141,000 after buying an additional 2,668 shares during the period. Finally, Corient Private Wealth LP increased its stake in shares of UniFirst by 220.1% in the second quarter. Corient Private Wealth LP now owns 13,875 shares of the textile maker's stock valued at $3,669,000 after buying an additional 9,540 shares during the period. Institutional investors own 78.17% of the company's stock.

UniFirst Price Performance

NYSE UNF opened at $261.42 on Friday. The company has a fifty day moving average price of $284.09 and a 200-day moving average price of $269.61. The firm has a market cap of $4.73 billion, a price-to-earnings ratio of 41.23 and a beta of 0.61. UniFirst Corporation has a 1 year low of $147.66 and a 1 year high of $306.67.

UniFirst (NYSE:UNF - Get Free Report) last released its quarterly earnings results 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 firm had revenue of $634.40 million for 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 firm's revenue for the quarter was up 3.9% compared to the same quarter last year. During the same quarter last year, the firm posted $2.13 earnings per share. On average, research analysts anticipate that UniFirst Corporation will post 7.49 EPS for the current fiscal year.

UniFirst Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 25th. Stockholders of record on Friday, September 4th will be paid a dividend of $0.365 per share. This represents a $1.46 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date is Friday, September 4th. UniFirst's payout ratio is presently 23.03%.

Analyst Upgrades and Downgrades

Several analysts recently commented on UNF shares. 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 target price on shares of UniFirst in a report on Monday, July 6th. Four research analysts have rated the stock with a Hold rating, According to data from MarketBeat, the company has a consensus rating of "Hold" and an average price target of $246.67.

UniFirst Company Profile

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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