Unifirst Corporation (NYSE:UNF) Shares Sold by Teacher Retirement System of Texas

Teacher Retirement System of Texas lessened its stake in shares of Unifirst Corporation (NYSE:UNF - Free Report) by 78.8% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 10,601 shares of the textile maker's stock after selling 39,520 shares during the period. Teacher Retirement System of Texas owned approximately 0.06% of Unifirst worth $1,845,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. GAMMA Investing LLC grew its position in Unifirst by 59.9% during the 1st quarter. GAMMA Investing LLC now owns 227 shares of the textile maker's stock worth $39,000 after purchasing an additional 85 shares during the last quarter. Fifth Third Bancorp boosted its holdings in shares of Unifirst by 88.7% in the 1st quarter. Fifth Third Bancorp now owns 266 shares of the textile maker's stock valued at $46,000 after acquiring an additional 125 shares during the last quarter. Jones Financial Companies Lllp boosted its holdings in shares of Unifirst by 187.2% in the 4th quarter. Jones Financial Companies Lllp now owns 359 shares of the textile maker's stock valued at $61,000 after acquiring an additional 234 shares during the last quarter. Sterling Capital Management LLC boosted its holdings in shares of Unifirst by 811.5% in the 4th quarter. Sterling Capital Management LLC now owns 474 shares of the textile maker's stock valued at $81,000 after acquiring an additional 422 shares during the last quarter. Finally, Orion Capital Management LLC purchased a new stake in shares of Unifirst in the 4th quarter valued at $104,000. Hedge funds and other institutional investors own 78.17% of the company's stock.

Unifirst Stock Performance

NYSE UNF traded up $0.24 during mid-day trading on Friday, reaching $174.50. 109,046 shares of the stock were exchanged, compared to its average volume of 109,490. The business's 50 day moving average is $183.99 and its 200-day moving average is $192.63. Unifirst Corporation has a 1 year low of $156.34 and a 1 year high of $243.70. The company has a market capitalization of $3.24 billion, a P/E ratio of 21.44 and a beta of 0.86.

Unifirst (NYSE:UNF - Get Free Report) last announced its quarterly earnings results on Wednesday, July 2nd. The textile maker reported $2.13 earnings per share (EPS) 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 firm had revenue of $610.78 million for the quarter, compared to the consensus estimate of $614.50 million. During the same period in the prior year, the firm posted $2.20 earnings per share. The firm's quarterly revenue was up 1.2% compared to the same quarter last year. Equities analysts predict that Unifirst Corporation will post 7.71 earnings per share for the current fiscal year.

Unifirst announced that its Board of Directors has initiated a share buyback program on Tuesday, April 8th that permits the company to buyback $100.00 million in outstanding shares. This buyback authorization permits the textile maker to repurchase up to 3.3% of its shares through open market purchases. Shares buyback programs are usually a sign that the company's board believes its stock is undervalued.

Analyst Ratings Changes

Several research firms have recently commented on UNF. Barclays set a $152.00 price objective on shares of Unifirst and gave the company an "underweight" rating in a report on Monday, June 30th. UBS Group dropped their price objective 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. Finally, Robert W. Baird set a $197.00 price objective on shares of Unifirst in a report on Monday, June 30th.

About Unifirst

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.