Pullen Investment Management LLC Purchases 5,192 Shares of UniFirst Corporation $UNF

Key Points

• Pullen Investment Management bought 5,192 shares of UniFirst, increasing its holding 60.0% to 13,845 shares—roughly a $2.67 million stake that represents about 1.4% of Pullen's portfolio and 0.08% of UniFirst.
• UniFirst's latest quarter showed an EPS miss of $1.13 vs. $1.21 expected while revenue beat at $622.5M (up 3.4% YoY); analysts forecast ~7.71 EPS for the year.
• Several firms raised price targets (UBS to $260, Barclays to $280) but the MarketBeat consensus remains "Reduce" with an average target of $228.25, while UNF trades around $256.39 (market cap ~$4.63B).

Pullen Investment Management LLC lifted its position in shares of UniFirst Corporation (NYSE:UNF - Free Report) by 60.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 13,845 shares of the textile maker's stock after purchasing an additional 5,192 shares during the period. UniFirst accounts for approximately 1.4% of Pullen Investment Management LLC's portfolio, making the stock its 22nd largest position. Pullen Investment Management LLC owned 0.08% of UniFirst worth $2,671,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of UNF. Quantbot Technologies LP purchased a new stake in UniFirst in the 3rd quarter worth approximately $1,597,000. AlphaQuest LLC increased its stake in shares of UniFirst by 181.2% during the third quarter. AlphaQuest LLC now owns 21,311 shares of the textile maker's stock valued at $3,563,000 after buying an additional 13,732 shares during the period. TimesSquare Capital Management LLC purchased a new position in shares of UniFirst during the third quarter valued at approximately $18,177,000. Vest Financial LLC raised its holdings in shares of UniFirst by 93.0% during the third quarter. Vest Financial LLC now owns 20,507 shares of the textile maker's stock valued at $3,429,000 after acquiring an additional 9,881 shares in the last quarter. Finally, Engine Capital Management LP bought a new position in shares of UniFirst during the second quarter valued at approximately $11,688,000. 78.17% of the stock is owned by institutional investors.

UniFirst Trading Up 0.1%

UNF opened at $256.39 on Friday. The stock has a fifty day simple moving average of $240.65 and a two-hundred day simple moving average of $198.27. The company has a market cap of $4.63 billion, a price-to-earnings ratio of 34.74 and a beta of 0.66. UniFirst Corporation has a 12-month low of $147.66 and a 12-month high of $283.77.

UniFirst (NYSE:UNF - Get Free Report) last announced its earnings results on Wednesday, April 1st. The textile maker reported $1.13 EPS for the quarter, missing analysts' consensus estimates of $1.21 by ($0.08). The business had revenue of $622.51 million for the quarter, compared to the consensus estimate of $614.91 million. UniFirst had a net margin of 5.49% and a return on equity of 6.49%. The business's quarterly revenue was up 3.4% on a year-over-year basis. During the same quarter last year, the firm posted $1.31 EPS. On average, analysts predict that UniFirst Corporation will post 7.71 EPS for the current year.

UniFirst Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 27th. Investors of record on Friday, March 6th were paid a dividend of $0.365 per share. The ex-dividend date of this dividend was Friday, March 6th. This represents a $1.46 annualized dividend and a yield of 0.6%. UniFirst's payout ratio is presently 19.78%.

Insider Buying and Selling

In other UniFirst news, VP David Martin Katz sold 1,464 shares of the company's stock in a transaction dated Tuesday, February 17th. The shares were sold at an average price of $237.54, for a total value of $347,758.56. Following the sale, the vice president owned 6,461 shares in the company, valued at approximately $1,534,745.94. This represents a 18.47% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.86% of the stock is owned by insiders.

Analysts Set New Price Targets

Several research firms recently weighed in on UNF. UBS Group lifted their price target on shares of UniFirst from $206.00 to $260.00 and gave the company a "neutral" rating in a report on Thursday. Barclays upped their price objective on shares of UniFirst from $250.00 to $280.00 and gave the stock an "equal weight" rating in a report on Thursday, March 12th. Zacks Research raised shares of UniFirst from a "strong sell" rating to a "hold" rating in a research report on Monday, December 22nd. Weiss Ratings reiterated a "hold (c)" rating on shares of UniFirst in a research report on Wednesday, January 21st. Finally, Robert W. Baird set a $198.00 price target on shares of UniFirst in a research note on Thursday, January 8th. Four equities research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Reduce" and an average target price of $228.25.

UniFirst Company 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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