Nuveen LLC Purchases Shares of 46,445 Unifirst Corporation $UNF

Key Points

• Nuveen LLC acquired a new stake in Unifirst Corporation, buying 46,445 shares valued at approximately $8.08 million, boosting its ownership to 0.25% as of the latest SEC filing.
• Unifirst reported earnings of $2.13 per share, surpassing analysts' expectations, and it has set a FY 2025 guidance of $7.60 to $8.00 EPS, with an average target price of $179.50 from analysts.
• The company announced a quarterly dividend of $0.35, yielding 0.8% annually, with the ex-dividend date set for September 5th.

Nuveen LLC acquired a new position in Unifirst Corporation (NYSE:UNF - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 46,445 shares of the textile maker's stock, valued at approximately $8,081,000. Nuveen LLC owned approximately 0.25% of Unifirst as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of the business. Cetera Investment Advisers raised its stake in Unifirst by 3.1% in the fourth quarter. Cetera Investment Advisers now owns 2,231 shares of the textile maker's stock worth $382,000 after buying an additional 68 shares in the last quarter. GAMMA Investing LLC boosted its position in shares of 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 purchasing an additional 85 shares in the last quarter. DAVENPORT & Co LLC boosted its position in shares of 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 purchasing an additional 86 shares in the last quarter. Fifth Third Bancorp boosted its position in shares of 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 purchasing an additional 125 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC boosted its position in shares of 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 purchasing an additional 150 shares in the last quarter. Institutional investors own 78.17% of the company's stock.

Unifirst Price Performance

Shares of NYSE UNF traded down $1.19 during mid-day trading on Thursday, hitting $176.08. The company had a trading volume of 22,170 shares, compared to its average volume of 128,985. The company has a market capitalization of $3.26 billion, a PE ratio of 21.60 and a beta of 0.85. Unifirst Corporation has a 1-year low of $156.34 and a 1-year high of $243.70. The business's 50-day simple moving average is $176.27 and its 200 day simple moving average is $184.87.

Unifirst (NYSE:UNF - Get Free Report) last announced its quarterly earnings data 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. The business had revenue of $610.78 million for the quarter, compared to analysts' expectations of $614.50 million. Unifirst had a return on equity of 7.35% and a net margin of 6.18%.The company's revenue for the quarter was up 1.2% compared to the same quarter last year. During the same period last year, the firm earned $2.20 earnings per share. Unifirst has set its FY 2025 guidance at 7.600-8.00 EPS. On average, analysts expect that Unifirst Corporation will post 7.71 EPS for the current year.

Unifirst Announces Dividend

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. The ex-dividend date is Friday, September 5th. This represents a $1.40 dividend on an annualized basis and a yield of 0.8%. Unifirst's dividend payout ratio (DPR) is currently 17.20%.

Wall Street Analyst Weigh In

UNF has been the subject of a number of recent analyst reports. UBS Group lowered their price objective on Unifirst from $196.00 to $194.00 and set a "neutral" rating for the company 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. JPMorgan Chase & Co. started coverage on Unifirst in a report on Monday, July 14th. They issued an "underweight" rating and a $175.00 price objective for the company. Finally, Robert W. Baird set a $197.00 price objective on Unifirst in a research note on Monday, June 30th. Two research analysts have rated the stock with a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, Unifirst has an average rating of "Reduce" and a consensus target price of $179.50.

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.