UniFirst Co. (NYSE:UNF) Shares Bought by Gotham Asset Management LLC

Gotham Asset Management LLC raised its holdings in shares of UniFirst Co. (NYSE:UNF - Free Report) by 52.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 7,089 shares of the textile maker's stock after purchasing an additional 2,444 shares during the quarter. Gotham Asset Management LLC's holdings in UniFirst were worth $1,213,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the stock. Independence Bank of Kentucky purchased a new position in UniFirst during the 4th quarter worth $34,000. Blue Trust Inc. grew its position in shares of UniFirst by 1,105.3% during the 4th quarter. Blue Trust Inc. now owns 229 shares of the textile maker's stock worth $39,000 after buying an additional 210 shares in the last quarter. Smartleaf Asset Management LLC increased its stake in shares of UniFirst by 252.0% during the fourth quarter. Smartleaf Asset Management LLC now owns 345 shares of the textile maker's stock valued at $59,000 after buying an additional 247 shares during the period. Jones Financial Companies Lllp raised its holdings in shares of UniFirst by 187.2% in the fourth quarter. Jones Financial Companies Lllp now owns 359 shares of the textile maker's stock valued at $61,000 after acquiring an additional 234 shares in the last quarter. Finally, Sterling Capital Management LLC raised its holdings in shares of UniFirst by 811.5% in the fourth 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. 78.17% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on UNF. Barclays reiterated an "underweight" rating and set a $152.00 target price (down from $180.00) on shares of UniFirst in a report on Friday, April 4th. Robert W. Baird lowered their price target on shares of UniFirst from $218.00 to $197.00 and set a "neutral" rating for the company in a research report on Thursday, April 3rd. Finally, UBS Group lifted their price objective on shares of UniFirst from $194.00 to $196.00 and gave the company a "neutral" rating in a report on Thursday, April 3rd. Two equities research 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. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $180.00.

UniFirst Trading Down 1.7%

Shares of UNF traded down $3.14 during trading hours on Wednesday, hitting $184.70. The company had a trading volume of 57,144 shares, compared to its average volume of 105,050. The company has a market capitalization of $3.43 billion, a PE ratio of 23.62 and a beta of 0.87. UniFirst Co. has a one year low of $149.58 and a one year high of $243.70. The company's fifty day moving average price is $179.83 and its two-hundred day moving average price is $195.18.

UniFirst (NYSE:UNF - Get Free Report) last announced its earnings results on Wednesday, April 2nd. The textile maker reported $1.31 EPS for the quarter, missing analysts' consensus estimates of $1.34 by ($0.03). UniFirst had a return on equity of 7.40% and a net margin of 6.00%. The firm had revenue of $602.20 million during the quarter, compared to the consensus estimate of $602.81 million. During the same quarter in the prior year, the firm posted $1.09 earnings per share. The business's revenue for the quarter was up 1.9% compared to the same quarter last year. Analysts forecast that UniFirst Co. will post 7.71 earnings per share for the current year.

UniFirst Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, June 27th. Investors of record on Friday, June 6th will be given a dividend of $0.35 per share. The ex-dividend date is Friday, June 6th. This represents a $1.40 dividend on an annualized basis and a yield of 0.76%. UniFirst's payout ratio is 17.41%.

UniFirst declared that its board has initiated a stock buyback program on Tuesday, April 8th that permits the company to repurchase $100.00 million in outstanding shares. This repurchase authorization permits the textile maker to repurchase up to 3.3% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company's management believes its shares are undervalued.

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.