6,194 Shares in Unifirst Corporation (NYSE:UNF) Purchased by Rock Creek Group LP

Key Points

• Rock Creek Group LP acquired a new stake in Unifirst Corporation, purchasing 6,194 shares valued at approximately $1,078,000, which constitutes about 0.1% of its overall holdings.
• Unifirst reported earnings per share (EPS) of $2.13 for the last quarter, exceeding analysts' expectations, but its revenue of $610.78 million fell short of predictions.
• The company declared a quarterly dividend of $0.35 per share, with an impending payment date of September 26th, offering an annualized yield of 0.8%.

Rock Creek Group LP acquired a new position in Unifirst Corporation (NYSE:UNF - Free Report) in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 6,194 shares of the textile maker's stock, valued at approximately $1,078,000. Unifirst makes up 0.1% of Rock Creek Group LP's investment portfolio, making the stock its 29th biggest holding.

Several other institutional investors also recently bought and sold shares of UNF. LPL Financial LLC increased its position in Unifirst by 60.3% during the 4th quarter. LPL Financial LLC now owns 10,923 shares of the textile maker's stock valued at $1,869,000 after buying an additional 4,111 shares in the last quarter. Alliancebernstein L.P. raised its holdings in Unifirst by 2.8% during the fourth quarter. Alliancebernstein L.P. now owns 18,703 shares of the textile maker's stock valued at $3,200,000 after acquiring an additional 511 shares during the period. Trexquant Investment LP bought a new stake in Unifirst during the fourth quarter valued at about $207,000. Wells Fargo & Company MN increased its holdings in shares of Unifirst by 1.4% in the fourth quarter. Wells Fargo & Company MN now owns 114,121 shares of the textile maker's stock worth $19,525,000 after purchasing an additional 1,541 shares during the last quarter. Finally, Bank of Montreal Can grew its position in Unifirst by 7.9% in the fourth quarter. Bank of Montreal Can now owns 1,780 shares of the textile maker's stock worth $305,000 after acquiring an additional 131 shares in the last quarter. 78.17% of the stock is currently owned by hedge funds and other institutional investors.

Unifirst Trading Down 0.8%

UNF stock traded down $1.38 during trading on Friday, reaching $173.34. The stock had a trading volume of 64,978 shares, compared to its average volume of 101,631. The firm has a fifty day moving average price of $178.00 and a 200 day moving average price of $187.25. The company has a market capitalization of $3.21 billion, a P/E ratio of 21.29 and a beta of 0.85. Unifirst Corporation has a 1-year low of $156.34 and a 1-year high of $243.70.

Unifirst (NYSE:UNF - Get Free Report) last issued its quarterly earnings results on Wednesday, July 2nd. The textile maker reported $2.13 earnings per share for the quarter, topping analysts' consensus estimates of $2.09 by $0.04. Unifirst had a net margin of 6.18% and a return on equity of 7.35%. The company had revenue of $610.78 million during the quarter, compared to analyst estimates of $614.50 million. During the same period in the prior year, the business posted $2.20 EPS. The business's revenue for the quarter was up 1.2% compared to the same quarter last year. Sell-side analysts predict that Unifirst Corporation will post 7.71 EPS for the current year.

Unifirst Dividend Announcement

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

Wall Street Analyst Weigh In

UNF has been the subject of a number of analyst reports. JPMorgan Chase & Co. assumed coverage on Unifirst in a report on Monday, July 14th. They set an "underweight" rating and a $175.00 target price for the company. Robert W. Baird set a $197.00 price target on shares of Unifirst in a research note on Monday, June 30th. Barclays set a $152.00 target price on shares of Unifirst and gave the stock an "underweight" rating in a research note on Monday, June 30th. Finally, UBS Group dropped their target price on shares of Unifirst from $196.00 to $194.00 and set a "neutral" rating for the company in a report on Monday, June 30th. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of "Hold" and an average price target of $179.50.

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.