Invesco Ltd. Sells 15,783 Shares of Unifirst Corporation $UNF

Key Points

• Invesco Ltd. reduced its stake in UniFirst Corporation by 20.3%, owning a total of 61,942 shares valued at approximately $10.78 million as of the end of the most recent reporting period.
• Several institutional investors have recently increased or initiated their positions in UniFirst, with GAMMA Investing LLC boosting its stake by 59.9% during the first quarter.
• Analysts have varied target price projections for UniFirst, with a consensus rating of "Reduce" and an average price target of $179.50, reflecting mixed outlooks on the stock's performance.

Invesco Ltd. decreased its holdings in shares of Unifirst Corporation (NYSE:UNF - Free Report) by 20.3% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 61,942 shares of the textile maker's stock after selling 15,783 shares during the period. Invesco Ltd. owned approximately 0.33% of Unifirst worth $10,778,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the business. Northern Trust Corp lifted its stake in Unifirst by 5.0% during the fourth quarter. Northern Trust Corp now owns 263,322 shares of the textile maker's stock worth $45,052,000 after purchasing an additional 12,598 shares during the last quarter. Envestnet Asset Management Inc. lifted its stake in Unifirst by 5.3% during the first quarter. Envestnet Asset Management Inc. now owns 162,751 shares of the textile maker's stock worth $28,319,000 after purchasing an additional 8,253 shares during the last quarter. Natixis Advisors LLC lifted its stake in Unifirst by 4.4% during the first quarter. Natixis Advisors LLC now owns 149,762 shares of the textile maker's stock worth $26,059,000 after purchasing an additional 6,352 shares during the last quarter. Millennium Management LLC lifted its stake in Unifirst by 148.4% during the fourth quarter. Millennium Management LLC now owns 76,742 shares of the textile maker's stock worth $13,130,000 after purchasing an additional 45,850 shares during the last quarter. Finally, Principal Financial Group Inc. lifted its stake in Unifirst by 2.6% during the first quarter. Principal Financial Group Inc. now owns 74,734 shares of the textile maker's stock worth $13,004,000 after purchasing an additional 1,927 shares during the last quarter. Institutional investors own 78.17% of the company's stock.

Unifirst Price Performance

Shares of NYSE:UNF traded up $1.00 during midday trading on Friday, hitting $178.13. The company had a trading volume of 104,309 shares, compared to its average volume of 82,354. The company has a market cap of $3.30 billion, a price-to-earnings ratio of 21.88 and a beta of 0.85. Unifirst Corporation has a 12-month low of $156.34 and a 12-month high of $243.70. The company has a fifty day moving average of $176.05 and a two-hundred day moving average of $184.06.

Unifirst (NYSE:UNF - Get Free Report) last posted its quarterly earnings data on Wednesday, July 2nd. The textile maker reported $2.13 EPS for the quarter, topping 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 firm had revenue of $610.78 million during the quarter, compared to analyst estimates of $614.50 million. During the same period in the prior year, the business posted $2.20 EPS. Unifirst's revenue was up 1.2% on a year-over-year basis. Unifirst has set its FY 2025 guidance at 7.600-8.00 EPS. Research analysts expect that Unifirst Corporation will post 7.71 earnings per share for the current fiscal year.

Unifirst Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 26th. Shareholders of record on Friday, September 5th will be paid a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date is Friday, September 5th. Unifirst's dividend payout ratio is presently 17.20%.

Analyst Ratings Changes

A number of research analysts recently issued reports on UNF shares. Barclays set a $152.00 price target on Unifirst and gave the company an "underweight" rating in a report on Monday, June 30th. JPMorgan Chase & Co. began coverage on Unifirst in a report on Monday, July 14th. They set an "underweight" rating and a $175.00 target price on the stock. Robert W. Baird set a $197.00 price target on Unifirst 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 analysts have rated the stock with a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Reduce" and an average target price of $179.50.

Unifirst 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.