GSA Capital Partners LLP Invests $1.02 Million in UniFirst Corporation $UNF

Key Points

• GSA Capital Partners bought 3,860 UniFirst shares worth approximately $1.02 million during the second quarter. Institutional investors collectively own 78.17% of the company.
• UniFirst reported quarterly EPS of $1.09, missing analyst expectations of $1.93, while revenue of $634.4 million exceeded estimates and rose 3.9% year over year.
• The company declared a quarterly dividend of $0.365 per share, equivalent to an annualized $1.46 payout and a 0.5% yield. Analysts maintain a consensus “Hold” rating with a $246.67 price target.

GSA Capital Partners LLP purchased a new stake in UniFirst Corporation (NYSE:UNF - Free Report) during the second quarter, according to its most recent filing with the SEC. The firm purchased 3,860 shares of the textile maker's stock, valued at approximately $1,021,000.

Several other hedge funds and other institutional investors have also bought and sold shares of UNF. Burney Co. grew its holdings in UniFirst by 1.0% during the first quarter. Burney Co. now owns 4,329 shares of the textile maker's stock valued at $1,089,000 after purchasing an additional 44 shares during the period. PNC Financial Services Group Inc. boosted its position in shares of UniFirst by 0.7% during the fourth quarter. PNC Financial Services Group Inc. now owns 6,876 shares of the textile maker's stock worth $1,326,000 after purchasing an additional 51 shares in the last quarter. American Century Companies Inc. grew its holdings in shares of UniFirst by 2.0% in the 2nd quarter. American Century Companies Inc. now owns 4,027 shares of the textile maker's stock valued at $758,000 after buying an additional 78 shares during the period. Panagora Asset Management Inc. grew its holdings in shares of UniFirst by 1.3% in the 4th quarter. Panagora Asset Management Inc. now owns 6,238 shares of the textile maker's stock valued at $1,203,000 after buying an additional 78 shares during the period. Finally, Covestor Ltd increased its position in shares of UniFirst by 11.8% in the 4th quarter. Covestor Ltd now owns 768 shares of the textile maker's stock valued at $148,000 after buying an additional 81 shares in the last quarter. Institutional investors own 78.17% of the company's stock.

UniFirst Stock Down 0.3%

UniFirst stock opened at $285.84 on Tuesday. The stock has a market capitalization of $5.17 billion, a PE ratio of 45.09 and a beta of 0.62. UniFirst Corporation has a twelve month low of $147.66 and a twelve month high of $306.67. The company has a 50 day moving average of $279.05 and a 200-day moving average of $260.85.

UniFirst (NYSE:UNF - Get Free Report) last issued its quarterly earnings data on Wednesday, July 1st. The textile maker reported $1.09 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.93 by ($0.84). The company had revenue of $634.40 million for the quarter, compared to the consensus estimate of $627.66 million. UniFirst had a return on equity of 6.44% and a net margin of 4.65%.The firm's revenue was up 3.9% on a year-over-year basis. During the same period in the prior year, the company earned $2.13 EPS. Equities analysts anticipate that UniFirst Corporation will post 7.49 EPS for the current fiscal year.

UniFirst Dividend Announcement

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

Analyst Upgrades and Downgrades

Several brokerages recently commented on UNF. UBS Group set a $262.00 price objective on UniFirst in a research note on Monday, July 6th. Weiss Ratings cut UniFirst from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Thursday, July 9th. Four equities research analysts have rated the stock with a Hold rating, According to MarketBeat, UniFirst currently has a consensus rating of "Hold" and a consensus target price of $246.67.

UniFirst Company Profile

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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