Teacher Retirement System of Texas Acquires 7,106 Shares of UniFirst Corporation $UNF

Key Points

• Teacher Retirement System of Texas boosted its UniFirst stake by 20.9%, acquiring 7,106 shares to hold 41,161 shares valued at about $7.94 million (≈0.23% of the company).
• UniFirst reported quarterly EPS of $1.13, missing EPS estimates of $1.21 while beating revenue expectations ($622.5M vs. $614.9M), and announced a quarterly dividend of $0.365 (annualized $1.46, ~0.6% yield; ex-dividend June 5).
• Shares trade near $260.55 with a market cap of ~$4.71B and institutional ownership of ~78.17%, while Wall Street’s consensus rating is " Reduce " with an average price target of $228.25 despite some analysts raising targets to the $260–$280 range.

Teacher Retirement System of Texas lifted its holdings in UniFirst Corporation (NYSE:UNF - Free Report) by 20.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 41,161 shares of the textile maker's stock after acquiring an additional 7,106 shares during the period. Teacher Retirement System of Texas owned 0.23% of UniFirst worth $7,940,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the business. M&T Bank Corp bought a new position in UniFirst during the fourth quarter valued at approximately $2,886,000. Universal Beteiligungs und Servicegesellschaft mbH boosted its stake in UniFirst by 1,296.7% during the fourth quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 19,107 shares of the textile maker's stock valued at $3,687,000 after buying an additional 17,739 shares during the last quarter. Cannon Global Investment Management LLC bought a new position in UniFirst during the fourth quarter valued at approximately $1,312,000. Bayforest Capital Ltd bought a new position in UniFirst during the fourth quarter valued at approximately $98,000. Finally, DDD Partners LLC bought a new position in UniFirst during the fourth quarter valued at approximately $2,614,000. Institutional investors own 78.17% of the company's stock.

UniFirst Stock Performance

Shares of NYSE UNF opened at $260.55 on Friday. The business's 50 day moving average price is $254.33 and its 200-day moving average price is $207.90. UniFirst Corporation has a fifty-two week low of $147.66 and a fifty-two week high of $283.77. The company has a market cap of $4.71 billion, a price-to-earnings ratio of 35.30 and a beta of 0.66.

UniFirst (NYSE:UNF - Get Free Report) last issued its quarterly earnings results on Wednesday, April 1st. The textile maker reported $1.13 earnings per share for the quarter, missing the consensus estimate of $1.21 by ($0.08). UniFirst had a return on equity of 6.49% and a net margin of 5.49%.The business had revenue of $622.51 million during the quarter, compared to analysts' expectations of $614.91 million. During the same quarter in the previous year, the company posted $1.31 earnings per share. The company's quarterly revenue was up 3.4% compared to the same quarter last year. Sell-side analysts predict that UniFirst Corporation will post 7.21 earnings per share for the current year.

UniFirst Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 26th. Stockholders of record on Friday, June 5th will be issued a $0.365 dividend. This represents a $1.46 annualized dividend and a dividend yield of 0.6%. The ex-dividend date is Friday, June 5th. UniFirst's dividend payout ratio is presently 19.78%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. Robert W. Baird set a $198.00 price target on UniFirst in a research note on Thursday, January 8th. UBS Group increased their price target on UniFirst from $206.00 to $260.00 and gave the company a "neutral" rating in a research note on Thursday, April 2nd. Weiss Ratings reissued a "hold (c)" rating on shares of UniFirst in a research note on Wednesday, January 21st. Finally, Barclays increased their price target on UniFirst from $250.00 to $280.00 and gave the company an "equal weight" rating in a research note on Thursday, March 12th. Four research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Reduce" and a consensus price target of $228.25.

Insider Buying and Selling at UniFirst

In other news, VP David Martin Katz sold 1,464 shares of the stock in a transaction that occurred on Tuesday, February 17th. The stock was sold at an average price of $237.54, for a total value of $347,758.56. Following the sale, the vice president directly 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 filing with the SEC, which can be accessed through the SEC website. Insiders own 0.86% of the company's stock.

About UniFirst

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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