Gamco Investors INC. ET AL Takes Position in UniFirst Corporation $UNF

Key Points

• Gamco Investors acquired a new 3,450-share stake in UniFirst valued at approximately $868,000. Institutional investors collectively own 78.17% of the company.
• UniFirst shares opened at $300.39, near their 12-month high, despite the company reporting quarterly EPS of $1.09—well below the $1.93 analyst consensus. Revenue rose 3.9% year over year to $634.4 million.
• Analyst sentiment remains cautious, with an average “Hold” rating and a $246.67 price target. UniFirst also announced a quarterly dividend of $0.365 per share, representing a 0.5% annualized yield.

Gamco Investors INC. ET AL acquired a new stake in shares of UniFirst Corporation (NYSE:UNF - Free Report) during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 3,450 shares of the textile maker's stock, valued at approximately $868,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. River Road Asset Management LLC boosted its stake in UniFirst by 9.6% during the 4th quarter. River Road Asset Management LLC now owns 865,014 shares of the textile maker's stock valued at $166,861,000 after purchasing an additional 75,524 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in shares of UniFirst by 1.9% in the 4th quarter. Dimensional Fund Advisors LP now owns 787,418 shares of the textile maker's stock worth $151,895,000 after buying an additional 14,751 shares in the last quarter. Engine Capital Management LP raised its stake in shares of UniFirst by 640.5% in the 4th quarter. Engine Capital Management LP now owns 459,871 shares of the textile maker's stock worth $88,709,000 after buying an additional 397,772 shares in the last quarter. First Trust Advisors LP lifted its holdings in shares of UniFirst by 46.8% in the fourth quarter. First Trust Advisors LP now owns 451,194 shares of the textile maker's stock valued at $87,035,000 after buying an additional 143,853 shares during the period. Finally, Brandes Investment Partners LP lifted its holdings in shares of UniFirst by 164.2% in the fourth quarter. Brandes Investment Partners LP now owns 367,786 shares of the textile maker's stock valued at $70,946,000 after buying an additional 228,586 shares during the period. Institutional investors own 78.17% of the company's stock.

Analyst Upgrades and Downgrades

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

UniFirst Stock Up 1.0%

Shares of NYSE UNF opened at $300.39 on Wednesday. UniFirst Corporation has a 12 month low of $147.66 and a 12 month high of $303.09. The company has a market cap of $5.43 billion, a price-to-earnings ratio of 47.38 and a beta of 0.63. The business has a fifty day simple moving average of $271.99 and a 200-day simple moving average of $252.49.

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 analysts' consensus estimates of $1.93 by ($0.84). The company had revenue of $634.40 million during the quarter, compared to analyst estimates of $627.66 million. UniFirst had a net margin of 4.65% and a return on equity of 6.44%. The company's revenue for the quarter was up 3.9% compared to the same quarter last year. During the same quarter last year, the business earned $2.13 EPS. As a group, sell-side analysts expect that UniFirst Corporation will post 7.49 EPS for the current fiscal year.

UniFirst Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, September 25th. Shareholders of record on Friday, September 4th will be issued a $0.365 dividend. This represents a $1.46 annualized dividend and a dividend yield of 0.5%. The ex-dividend date is Friday, September 4th. UniFirst's dividend payout ratio (DPR) is presently 23.03%.

About UniFirst

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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