Fuller & Thaler Asset Management Inc. Reduces Holdings in Unifirst Corporation $UNF

Key Points

• Fuller & Thaler Asset Management Inc. reduced its holdings in UniFirst Corporation by 10.9%, selling 29,670 shares to now own a total of 242,181 shares valued at approximately $42.14 million.
• Several institutional investors have recently adjusted their positions in UniFirst, with hedge funds and other institutions collectively owning 78.17% of the company's stock.
• Analysts have provided mixed ratings for UniFirst; the consensus rating is "Hold", with an average price target of $179.50, amidst recent earnings that slightly surpassed forecasts.

Fuller & Thaler Asset Management Inc. reduced its stake in shares of Unifirst Corporation (NYSE:UNF - Free Report) by 10.9% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 242,181 shares of the textile maker's stock after selling 29,670 shares during the period. Fuller & Thaler Asset Management Inc. owned 1.30% of Unifirst worth $42,139,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of UNF. Northern Trust Corp increased its position in Unifirst by 0.4% during the first quarter. Northern Trust Corp now owns 264,345 shares of the textile maker's stock worth $45,996,000 after buying an additional 1,023 shares in the last quarter. Summit Securities Group LLC purchased a new stake in Unifirst during the 1st quarter worth about $104,000. Caitong International Asset Management Co. Ltd purchased a new stake in Unifirst during the 1st quarter worth about $201,000. Rock Creek Group LP acquired a new position in Unifirst in the 1st quarter valued at about $1,078,000. Finally, Russell Investments Group Ltd. lifted its holdings in Unifirst by 2.3% in the 1st quarter. Russell Investments Group Ltd. now owns 18,871 shares of the textile maker's stock valued at $3,284,000 after purchasing an additional 417 shares in the last quarter. Hedge funds and other institutional investors own 78.17% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the stock. JPMorgan Chase & Co. began coverage on shares of Unifirst in a report on Monday, July 14th. They set an "underweight" rating and a $175.00 price target for the company. UBS Group lowered their target price on shares of Unifirst from $196.00 to $194.00 and set a "neutral" rating for the company in a research note on Monday, June 30th. Robert W. Baird set a $197.00 price target on Unifirst in a report on Monday, June 30th. Finally, Barclays set a $152.00 price objective on Unifirst and gave the stock an "underweight" rating in a report on Monday, June 30th. Two analysts have rated the stock with a sell rating, two have given a hold rating and one has issued a buy rating to the company. According to MarketBeat, Unifirst presently has a consensus rating of "Hold" and an average price target of $179.50.

Unifirst Price Performance

Shares of UNF stock opened at $174.83 on Tuesday. Unifirst Corporation has a 1-year low of $156.34 and a 1-year high of $243.70. The firm's 50-day simple moving average is $177.70 and its 200-day simple moving average is $186.56. The firm has a market cap of $3.24 billion, a P/E ratio of 21.48 and a beta of 0.85.

Unifirst (NYSE:UNF - Get Free Report) last posted its quarterly earnings results on Wednesday, July 2nd. The textile maker reported $2.13 earnings per share for the quarter, topping analysts' consensus estimates of $2.09 by $0.04. Unifirst had a net margin of 6.18% and a return on equity of 7.35%. The company had revenue of $610.78 million for the quarter, compared to the consensus estimate of $614.50 million. During the same quarter last year, the firm posted $2.20 earnings per share. Unifirst's revenue was up 1.2% on a year-over-year basis. Analysts expect that Unifirst Corporation will post 7.71 earnings per share for the current fiscal year.

Unifirst Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, September 26th. Shareholders of record on Friday, September 5th will be paid a dividend of $0.35 per share. The ex-dividend date is Friday, September 5th. This represents a $1.40 annualized dividend and a yield of 0.8%. Unifirst's dividend payout ratio is currently 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.

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