Gotham Asset Management LLC Purchases 2,444 Shares of UniFirst Co. (NYSE:UNF)

Gotham Asset Management LLC lifted its position in UniFirst Co. (NYSE:UNF - Free Report) by 52.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,089 shares of the textile maker's stock after buying 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 quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of UNF. Independence Bank of Kentucky purchased a new stake in UniFirst in the fourth quarter valued at approximately $34,000. Blue Trust Inc. raised its stake in UniFirst by 1,105.3% in the fourth quarter. Blue Trust Inc. now owns 229 shares of the textile maker's stock valued at $39,000 after purchasing an additional 210 shares in the last quarter. Smartleaf Asset Management LLC raised its stake in UniFirst by 252.0% in the fourth quarter. Smartleaf Asset Management LLC now owns 345 shares of the textile maker's stock valued at $59,000 after purchasing an additional 247 shares in the last quarter. Jones Financial Companies Lllp raised its stake in 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 purchasing an additional 234 shares in the last quarter. Finally, Sterling Capital Management LLC raised its stake in 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 purchasing an additional 422 shares in the last quarter. 78.17% of the stock is owned by hedge funds and other institutional investors.

UniFirst Trading Down 0.5%

Shares of UNF stock traded down $1.01 during trading hours on Friday, hitting $183.65. 52,559 shares of the company's stock were exchanged, compared to its average volume of 105,219. The company has a market capitalization of $3.41 billion, a PE ratio of 23.48 and a beta of 0.87. UniFirst Co. has a 12-month low of $149.58 and a 12-month high of $243.70. The business's 50 day simple moving average is $178.58 and its 200-day simple moving average is $195.15.

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

UniFirst declared that its Board of Directors has initiated a stock repurchase 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 reacquire up to 3.3% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company's board believes its shares are undervalued.

UniFirst Announces Dividend

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

Analyst Ratings Changes

A number of equities research analysts recently weighed in on UNF shares. Robert W. Baird lowered their target price on shares of UniFirst from $218.00 to $197.00 and set a "neutral" rating on the stock in a research note on Thursday, April 3rd. Barclays reaffirmed an "underweight" rating and issued a $152.00 target price (down from $180.00) on shares of UniFirst in a research note on Friday, April 4th. Finally, UBS Group lifted their price target on shares of UniFirst from $194.00 to $196.00 and gave the stock a "neutral" rating in a research note on Thursday, April 3rd. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, UniFirst has a consensus rating of "Hold" and an average price target of $180.00.

About UniFirst

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.