ProShare Advisors LLC Increases Holdings in UniFirst Co. (NYSE:UNF)

ProShare Advisors LLC boosted its position in shares of UniFirst Co. (NYSE:UNF - Free Report) by 44.4% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 4,537 shares of the textile maker's stock after acquiring an additional 1,396 shares during the period. ProShare Advisors LLC's holdings in UniFirst were worth $776,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of UNF. Independence Bank of Kentucky acquired a new position in shares of UniFirst during the fourth quarter worth $34,000. Blue Trust Inc. lifted its holdings in UniFirst by 1,105.3% during the 4th quarter. Blue Trust Inc. now owns 229 shares of the textile maker's stock worth $39,000 after buying an additional 210 shares during the last quarter. Smartleaf Asset Management LLC boosted its position in shares of UniFirst by 252.0% during the 4th quarter. Smartleaf Asset Management LLC now owns 345 shares of the textile maker's stock worth $59,000 after acquiring an additional 247 shares in the last quarter. Jones Financial Companies Lllp increased its holdings in shares of UniFirst by 187.2% in the 4th quarter. Jones Financial Companies Lllp now owns 359 shares of the textile maker's stock valued at $61,000 after acquiring an additional 234 shares during the last quarter. Finally, Sterling Capital Management LLC increased its holdings in shares of UniFirst by 811.5% in the 4th quarter. Sterling Capital Management LLC now owns 474 shares of the textile maker's stock valued at $81,000 after acquiring an additional 422 shares during the last quarter. 78.17% of the stock is owned by hedge funds and other institutional investors.

UniFirst Stock Performance

NYSE UNF traded up $1.35 during trading on Friday, reaching $189.86. The company's stock had a trading volume of 11,856 shares, compared to its average volume of 105,275. UniFirst Co. has a twelve month low of $149.58 and a twelve month high of $243.70. The business's fifty day moving average price is $177.62 and its 200-day moving average price is $194.81. The firm has a market cap of $3.52 billion, a price-to-earnings ratio of 24.28 and a beta of 0.87.

UniFirst (NYSE:UNF - Get Free Report) last issued its earnings results on Wednesday, April 2nd. The textile maker reported $1.31 earnings per share for the quarter, missing the consensus estimate of $1.34 by ($0.03). The firm had revenue of $602.20 million during the quarter, compared to analysts' expectations of $602.81 million. UniFirst had a net margin of 6.00% and a return on equity of 7.40%. The firm's revenue was up 1.9% on a year-over-year basis. During the same period in the previous year, the firm earned $1.09 EPS. As a group, sell-side analysts forecast that UniFirst Co. will post 7.71 EPS for the current fiscal year.

UniFirst Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 27th. Investors of record on Friday, June 6th will be issued a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 0.74%. The ex-dividend date is Friday, June 6th. UniFirst's dividend payout ratio is presently 17.41%.

UniFirst declared that its board has authorized a share buyback program on Tuesday, April 8th that authorizes the company to buyback $100.00 million in outstanding shares. This buyback authorization authorizes the textile maker to purchase up to 3.3% of its shares through open market purchases. Shares buyback programs are often an indication that the company's leadership believes its stock is undervalued.

Analyst Ratings Changes

Several equities analysts have commented on the stock. UBS Group increased their price target on shares of UniFirst from $194.00 to $196.00 and gave the company a "neutral" rating in a research note on Thursday, April 3rd. Robert W. Baird lowered their target price on shares of UniFirst from $218.00 to $197.00 and set a "neutral" rating for the company in a report on Thursday, April 3rd. Finally, Barclays reiterated an "underweight" rating and set a $152.00 price target (down from $180.00) on shares of UniFirst in a research note on Friday, April 4th. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, UniFirst currently has a consensus rating of "Hold" and a consensus target price of $180.00.

UniFirst Company 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.