NINE MASTS CAPITAL Ltd Takes $3.46 Million Position in UniFirst Corporation $UNF

Key Points

• NINE MASTS CAPITAL Ltd acquired 13,070 UniFirst shares worth approximately $3.46 million, representing about 0.3% of its portfolio and 0.07% of UniFirst’s outstanding stock.
• UniFirst reported quarterly EPS of $1.09, missing the $1.93 analyst consensus, while revenue rose 3.9% year over year to $634.4 million. The stock opened at $285.84, near its 52-week high of $306.67.
• The company declared a quarterly dividend of $0.365, equivalent to a $1.46 annualized payout and a 0.5% yield. Analysts maintained a generally cautious stance, with an average “Hold” rating and a $246.67 price target.

NINE MASTS CAPITAL Ltd acquired a new position in shares of UniFirst Corporation (NYSE:UNF - Free Report) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 13,070 shares of the textile maker's stock, valued at approximately $3,456,000. UniFirst makes up about 0.3% of NINE MASTS CAPITAL Ltd's portfolio, making the stock its 29th largest position. NINE MASTS CAPITAL Ltd owned approximately 0.07% of UniFirst at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of UNF. Modus Advisors LLC purchased a new position in shares of UniFirst during the fourth quarter valued at approximately $28,000. EverSource Wealth Advisors LLC grew its stake in shares of UniFirst by 378.1% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 153 shares of the textile maker's stock worth $29,000 after buying an additional 121 shares during the last quarter. Geneos Wealth Management Inc. grew its stake in shares of UniFirst by 474.1% in the 1st quarter. Geneos Wealth Management Inc. now owns 155 shares of the textile maker's stock worth $27,000 after buying an additional 128 shares during the last quarter. Danske Bank A S bought a new position in UniFirst during the 3rd quarter valued at approximately $33,000. Finally, Longfellow Investment Management Co. LLC bought a new position in UniFirst during the 2nd quarter valued at approximately $69,000. Hedge funds and other institutional investors own 78.17% of the company's stock.

UniFirst Stock Down 0.3%

NYSE:UNF opened at $285.84 on Tuesday. The stock has a market cap of $5.17 billion, a price-to-earnings ratio of 45.09 and a beta of 0.62. The company's 50 day moving average price is $279.05 and its 200-day moving average price is $260.85. UniFirst Corporation has a 52 week low of $147.66 and a 52 week high of $306.67.

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

UniFirst Announces Dividend

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

Wall Street Analyst Weigh In

A number of brokerages have issued reports on UNF. Weiss Ratings cut UniFirst from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Thursday, July 9th. UBS Group set a $262.00 target price on UniFirst in a research note on Monday, July 6th. Four analysts have rated the stock with a Hold rating, Based on data from MarketBeat, UniFirst presently has an average rating of "Hold" and an average target price of $246.67.

UniFirst 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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