Hotchkis & Wiley Capital Management LLC Has $5.22 Million Stake in Unifirst Corporation $UNF

Key Points

• Hotchkis & Wiley Capital Management LLC has reduced its holdings in UniFirst Corporation by 44%, selling 23,563 shares, resulting in ownership of approximately 30,005 shares valued at $5.22 million.
• UniFirst's stock is currently trading at $175.95, down 1.8%, with the company reporting a Q2 earnings beat of $2.13 EPS against expectations of $2.09 EPS.
• The company has declared a quarterly dividend of $0.35 per share, to be paid on September 26th, which results in an annual yield of 0.8%.

Hotchkis & Wiley Capital Management LLC trimmed its stake in Unifirst Corporation (NYSE:UNF - Free Report) by 44.0% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 30,005 shares of the textile maker's stock after selling 23,563 shares during the period. Hotchkis & Wiley Capital Management LLC owned 0.16% of Unifirst worth $5,221,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in UNF. MetLife Investment Management LLC raised its stake in shares of Unifirst by 5.5% in the 4th quarter. MetLife Investment Management LLC now owns 9,052 shares of the textile maker's stock valued at $1,549,000 after acquiring an additional 468 shares in the last quarter. MML Investors Services LLC increased its position in Unifirst by 7.8% in the 4th quarter. MML Investors Services LLC now owns 8,875 shares of the textile maker's stock worth $1,518,000 after buying an additional 644 shares during the period. Stifel Financial Corp increased its position in Unifirst by 4.2% in the 4th quarter. Stifel Financial Corp now owns 36,167 shares of the textile maker's stock worth $6,188,000 after buying an additional 1,456 shares during the period. Hsbc Holdings PLC increased its position in Unifirst by 83.8% in the 4th quarter. Hsbc Holdings PLC now owns 4,624 shares of the textile maker's stock worth $795,000 after buying an additional 2,108 shares during the period. Finally, T. Rowe Price Investment Management Inc. bought a new position in Unifirst in the 4th quarter worth approximately $6,461,000. 78.17% of the stock is owned by institutional investors.

Unifirst Stock Performance

Unifirst stock traded up $0.06 on Thursday, reaching $177.33. The company's stock had a trading volume of 114,471 shares, compared to its average volume of 85,038. The company has a market cap of $3.29 billion, a price-to-earnings ratio of 21.79 and a beta of 0.85. The business's fifty day moving average price is $176.16 and its 200 day moving average price is $184.58. Unifirst Corporation has a twelve month low of $156.34 and a twelve month high of $243.70.

Unifirst (NYSE:UNF - Get Free Report) last issued its quarterly earnings results on Wednesday, July 2nd. The textile maker reported $2.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.09 by $0.04. Unifirst had a return on equity of 7.35% and a net margin of 6.18%.The business had revenue of $610.78 million for the quarter, compared to analyst estimates of $614.50 million. During the same quarter in the prior year, the firm posted $2.20 earnings per share. The firm's revenue for the quarter was up 1.2% compared to the same quarter last year. Unifirst has set its FY 2025 guidance at 7.600-8.00 EPS. As a group, equities analysts forecast that Unifirst Corporation will post 7.71 earnings per share for the current year.

Unifirst Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 26th. Stockholders of record on Friday, September 5th will be given a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a dividend yield of 0.8%. The ex-dividend date of this dividend is Friday, September 5th. Unifirst's dividend payout ratio is currently 17.20%.

Analysts Set New Price Targets

Several research analysts have commented on UNF shares. JPMorgan Chase & Co. started coverage on Unifirst in a research report on Monday, July 14th. They issued an "underweight" rating and a $175.00 price target on the stock. Robert W. Baird set a $197.00 price target on Unifirst in a research report on Monday, June 30th. Barclays set a $152.00 price target on Unifirst and gave the stock an "underweight" rating in a research report on Monday, June 30th. Finally, UBS Group dropped their price target on Unifirst from $196.00 to $194.00 and set a "neutral" rating on the stock in a research report on Monday, June 30th. Two research analysts have rated the stock with a Hold rating and two have issued a Sell rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Reduce" and an average price target of $179.50.

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.