Unifirst Corporation $UNF Shares Acquired by Kayne Anderson Rudnick Investment Management LLC

Key Points

• Kayne Anderson Rudnick Investment Management LLC increased its stake in Unifirst Corporation by 3.0% during the first quarter, holding 608,245 shares valued at approximately $105.84 million as of the latest reporting period.
• Unifirst announced a quarterly dividend of $0.35 per share, which will be paid on September 26th, representing an annualized dividend yield of 0.8%.
• The company reported a quarterly earnings per share of $2.13, exceeding analyst estimates, but its revenue of $610.78 million fell slightly short of expectations.

Kayne Anderson Rudnick Investment Management LLC raised its position in Unifirst Corporation (NYSE:UNF - Free Report) by 3.0% during the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 608,245 shares of the textile maker's stock after acquiring an additional 17,530 shares during the quarter. Kayne Anderson Rudnick Investment Management LLC owned approximately 3.28% of Unifirst worth $105,835,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the company. Cetera Investment Advisers increased its stake in Unifirst by 3.1% in the 4th quarter. Cetera Investment Advisers now owns 2,231 shares of the textile maker's stock worth $382,000 after acquiring an additional 68 shares during the last quarter. GAMMA Investing LLC increased its stake in Unifirst by 59.9% in the 1st quarter. GAMMA Investing LLC now owns 227 shares of the textile maker's stock worth $39,000 after acquiring an additional 85 shares during the last quarter. DAVENPORT & Co LLC increased its stake in Unifirst by 1.1% in the 1st quarter. DAVENPORT & Co LLC now owns 7,613 shares of the textile maker's stock worth $1,325,000 after acquiring an additional 86 shares during the last quarter. Fifth Third Bancorp increased its stake in Unifirst by 88.7% in the 1st quarter. Fifth Third Bancorp now owns 266 shares of the textile maker's stock worth $46,000 after acquiring an additional 125 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC increased its stake in Unifirst by 8.9% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 1,827 shares of the textile maker's stock worth $313,000 after acquiring an additional 150 shares during the last quarter. Institutional investors own 78.17% of the company's stock.

Analyst Upgrades and Downgrades

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

Unifirst Stock Performance

Unifirst stock traded up $0.29 during midday trading on Friday, hitting $177.42. 34,666 shares of the company were exchanged, compared to its average volume of 128,936. The firm has a market capitalization of $3.29 billion, a PE ratio of 21.90 and a beta of 0.85. Unifirst Corporation has a fifty-two week low of $156.34 and a fifty-two week high of $243.70. The business has a fifty day simple moving average of $176.16 and a two-hundred day simple moving average of $184.58.

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, topping analysts' consensus estimates 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 for the quarter, compared to analyst estimates of $614.50 million. During the same period in the previous year, the company posted $2.20 earnings per share. The business'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. As a group, equities analysts expect that Unifirst Corporation will post 7.71 earnings per share for the current year.

Unifirst Announces Dividend

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

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.