Rhumbline Advisers Buys 1,585 Shares of Unifirst Corporation $UNF

Key Points

• Rhumbline Advisers increased its position in Unifirst Corporation (NYSE:UNF) by 3.2%, owning 51,883 shares valued at approximately $9.03 million as of the latest SEC filing.
• Unifirst reported $2.13 earnings per share (EPS) for its most recent quarter, slightly exceeding analysts' expectations, but revenue fell short at $610.78 million.
• The company has announced a quarterly dividend of $0.35 per share, indicating a yield of 0.8%, with the dividend payout ratio currently at 17.20%.

Rhumbline Advisers raised its holdings in shares of Unifirst Corporation (NYSE:UNF - Free Report) by 3.2% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 51,883 shares of the textile maker's stock after purchasing an additional 1,585 shares during the quarter. Rhumbline Advisers owned approximately 0.28% of Unifirst worth $9,028,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Envestnet Asset Management Inc. lifted its holdings in shares of Unifirst by 5.3% in the first quarter. Envestnet Asset Management Inc. now owns 162,751 shares of the textile maker's stock worth $28,319,000 after buying an additional 8,253 shares in the last quarter. Millennium Management LLC lifted its holdings in shares of Unifirst by 148.4% in the fourth quarter. Millennium Management LLC now owns 76,742 shares of the textile maker's stock worth $13,130,000 after buying an additional 45,850 shares in the last quarter. GAMMA Investing LLC lifted its holdings in shares of Unifirst by 27,715.5% in the first quarter. GAMMA Investing LLC now owns 39,498 shares of the textile maker's stock worth $6,873,000 after buying an additional 39,356 shares in the last quarter. Russell Investments Group Ltd. lifted its holdings in shares of Unifirst by 2.3% in the first quarter. Russell Investments Group Ltd. now owns 18,871 shares of the textile maker's stock worth $3,284,000 after buying an additional 417 shares in the last quarter. Finally, QRG Capital Management Inc. lifted its holdings in shares of Unifirst by 11.5% in the first quarter. QRG Capital Management Inc. now owns 3,446 shares of the textile maker's stock worth $600,000 after buying an additional 355 shares in the last quarter. 78.17% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

UNF has been the topic of a number of recent analyst reports. Barclays set a $152.00 price target on shares of Unifirst and gave the stock an "underweight" rating in a report on Monday, June 30th. UBS Group lowered their price target on shares of Unifirst from $196.00 to $194.00 and set a "neutral" rating on the stock in a report on Monday, June 30th. Robert W. Baird set a $197.00 price target on shares of Unifirst in a report on Monday, June 30th. Finally, JPMorgan Chase & Co. started coverage on shares of Unifirst in a research report on Monday, July 14th. They issued an "underweight" rating and a $175.00 price objective on the stock. Two research analysts have rated the stock with a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, Unifirst presently has an average rating of "Reduce" and a consensus price target of $179.50.

Unifirst Stock Up 0.0%

Shares of Unifirst stock traded up $0.08 on Tuesday, hitting $171.68. The stock had a trading volume of 24,482 shares, compared to its average volume of 126,860. The stock's 50-day simple moving average is $174.55 and its two-hundred day simple moving average is $180.96. Unifirst Corporation has a one year low of $156.34 and a one year high of $243.70. The stock has a market cap of $3.18 billion, a price-to-earnings ratio of 21.09 and a beta of 0.86.

Unifirst (NYSE:UNF - Get Free Report) last released its quarterly earnings results on Wednesday, July 2nd. The textile maker reported $2.13 earnings per share 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 net margin of 6.18% and a return on equity of 7.35%. The firm's revenue for the quarter was up 1.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.20 earnings per share. Unifirst has set its FY 2025 guidance at 7.600-8.00 EPS. As a group, equities analysts predict that Unifirst Corporation will post 7.71 EPS for the current fiscal year.

Unifirst Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 26th. Investors of record on Friday, September 5th will be issued a $0.35 dividend. The ex-dividend date is Friday, September 5th. This represents a $1.40 annualized dividend and a yield of 0.8%. Unifirst's payout ratio is 17.20%.

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.