Pullen Investment Management LLC Has $796,000 Stock Holdings in UniFirst Co. (NYSE:UNF)

Pullen Investment Management LLC grew its stake in shares of UniFirst Co. (NYSE:UNF - Free Report) by 45.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 4,655 shares of the textile maker's stock after acquiring an additional 1,460 shares during the period. Pullen Investment Management LLC's holdings in UniFirst were worth $796,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the company. Orion Capital Management LLC bought a new stake in UniFirst in the 4th quarter valued at $104,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of UniFirst by 22.1% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 33,588 shares of the textile maker's stock valued at $5,747,000 after acquiring an additional 6,078 shares during the period. Ulysses Management LLC bought a new stake in shares of UniFirst in the fourth quarter valued at about $8,318,000. Voloridge Investment Management LLC grew its stake in shares of UniFirst by 4.1% in the fourth quarter. Voloridge Investment Management LLC now owns 4,582 shares of the textile maker's stock valued at $784,000 after acquiring an additional 180 shares in the last quarter. Finally, Twinbeech Capital LP bought a new position in UniFirst during the fourth quarter worth about $1,489,000. Institutional investors own 78.17% of the company's stock.

UniFirst Price Performance

NYSE:UNF traded up $0.45 during mid-day trading on Friday, reaching $188.96. The stock had a trading volume of 40,492 shares, compared to its average volume of 105,400. UniFirst Co. has a 12 month low of $149.58 and a 12 month high of $243.70. The stock has a market capitalization of $3.51 billion, a PE ratio of 24.16 and a beta of 0.87. The stock has a 50-day simple moving average of $177.62 and a two-hundred day simple moving average of $194.81.

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

UniFirst declared that its Board of Directors has initiated a stock repurchase program on Tuesday, April 8th that authorizes the company to buyback $100.00 million in shares. This buyback authorization authorizes the textile maker to purchase up to 3.3% of its stock through open market purchases. Stock buyback programs are usually a sign that the company's board believes its shares are undervalued.

UniFirst Announces Dividend

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

Wall Street Analyst Weigh In

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

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.