Jump Financial LLC Takes $1.32 Million Position in Unifirst Corporation $UNF

Key Points

• Jump Financial LLC has acquired a new stake in UniFirst Corporation, purchasing 7,561 shares valued at approximately $1.316 million during the first quarter.
• UniFirst reported earnings of $2.13 EPS for the latest quarter, surpassing analysts' expectations, with revenues of $610.78 million, which is a 1.2% increase year-over-year.
• The company declared a quarterly dividend of $0.35 per share, with an annualized yield of 0.8% and a payout ratio of 17.20%.

Jump Financial LLC acquired a new position in shares of Unifirst Corporation (NYSE:UNF - Free Report) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 7,561 shares of the textile maker's stock, valued at approximately $1,316,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Envestnet Asset Management Inc. raised its stake in Unifirst by 5.3% in the 1st quarter. Envestnet Asset Management Inc. now owns 162,751 shares of the textile maker's stock valued at $28,319,000 after acquiring an additional 8,253 shares during the period. Millennium Management LLC increased its position in shares of Unifirst by 148.4% in 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. GAMMA Investing LLC increased its position in shares of Unifirst by 27,715.5% in the first quarter. GAMMA Investing LLC now owns 39,498 shares of the textile maker's stock worth $6,873,000 after purchasing an additional 39,356 shares during the last quarter. Russell Investments Group Ltd. increased its position in shares of Unifirst by 2.3% in the first quarter. Russell Investments Group Ltd. now owns 18,871 shares of the textile maker's stock worth $3,284,000 after purchasing an additional 417 shares during the last quarter. Finally, QRG Capital Management Inc. boosted its stake in Unifirst by 11.5% in the first quarter. QRG Capital Management Inc. now owns 3,446 shares of the textile maker's stock worth $600,000 after buying an additional 355 shares in the last quarter. 78.17% of the stock is owned by hedge funds and other institutional investors.

Unifirst Stock Performance

UNF stock traded down $0.84 on Wednesday, reaching $175.03. The company's stock had a trading volume of 25,247 shares, compared to its average volume of 128,328. The business has a fifty day simple moving average of $175.66 and a two-hundred day simple moving average of $183.53. Unifirst Corporation has a 12-month low of $156.34 and a 12-month high of $243.70. The firm has a market cap of $3.25 billion, a PE ratio of 21.52 and a beta of 0.86.

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

Unifirst Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 26th. Stockholders of record on Friday, September 5th will be issued a dividend of $0.35 per share. The ex-dividend date is Friday, September 5th. This represents a $1.40 annualized dividend and a dividend yield of 0.8%. Unifirst's dividend payout ratio (DPR) is presently 17.20%.

Wall Street Analysts Forecast Growth

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