Twinbeech Capital LP Acquires Shares of 8,702 UniFirst Co. (NYSE:UNF)

Twinbeech Capital LP bought a new stake in UniFirst Co. (NYSE:UNF - Free Report) during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor bought 8,702 shares of the textile maker's stock, valued at approximately $1,489,000.

A number of other institutional investors and hedge funds also recently modified their holdings of the company. Two Sigma Investments LP raised its holdings in UniFirst by 2.6% in the 4th quarter. Two Sigma Investments LP now owns 8,509 shares of the textile maker's stock valued at $1,456,000 after acquiring an additional 218 shares during the period. Tidal Investments LLC acquired a new stake in shares of UniFirst during the 4th quarter worth approximately $271,000. Snowden Capital Advisors LLC boosted its position in shares of UniFirst by 25.1% during the 4th quarter. Snowden Capital Advisors LLC now owns 3,511 shares of the textile maker's stock worth $602,000 after acquiring an additional 705 shares in the last quarter. Sherbrooke Park Advisers LLC acquired a new stake in shares of UniFirst during the 4th quarter worth approximately $502,000. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new stake in UniFirst in the fourth quarter valued at approximately $149,000. 78.17% of the stock is owned by institutional investors.

UniFirst Stock Up 2.5%

UNF traded up $4.59 during midday trading on Tuesday, hitting $188.04. The company had a trading volume of 21,107 shares, compared to its average volume of 134,900. UniFirst Co. has a 52 week low of $149.58 and a 52 week high of $243.70. The company has a market capitalization of $3.49 billion, a price-to-earnings ratio of 24.05 and a beta of 0.87. The stock's 50 day moving average price is $178.17 and its 200 day moving average price is $195.00.

UniFirst (NYSE:UNF - Get Free Report) last posted its earnings results on Wednesday, April 2nd. The textile maker reported $1.31 earnings per share for the quarter, missing analysts' consensus estimates of $1.34 by ($0.03). UniFirst had a return on equity of 7.40% and a net margin of 6.00%. The business had revenue of $602.20 million during the quarter, compared to analyst estimates of $602.81 million. During the same quarter in the prior year, the company earned $1.09 EPS. The company's revenue was up 1.9% on a year-over-year basis. Research analysts predict that UniFirst Co. will post 7.71 EPS for the current year.

UniFirst Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 27th. Investors of record on Friday, June 6th will be issued a $0.35 dividend. The ex-dividend date is Friday, June 6th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 0.74%. UniFirst's dividend payout ratio is presently 17.41%.

UniFirst announced that its board has approved a stock buyback plan on Tuesday, April 8th that permits the company to repurchase $100.00 million in shares. This repurchase authorization permits the textile maker to reacquire up to 3.3% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company's board believes its stock is undervalued.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on UNF shares. Robert W. Baird cut their target price on shares of UniFirst from $218.00 to $197.00 and set a "neutral" rating on the stock in a research report on Thursday, April 3rd. UBS Group boosted their target price on shares of UniFirst from $194.00 to $196.00 and gave the company a "neutral" rating in a report on Thursday, April 3rd. Finally, Barclays restated an "underweight" rating and issued a $152.00 target price (down previously from $180.00) on shares of UniFirst in a report on Friday, April 4th. Two research analysts have rated the stock with a sell rating, two have given a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, UniFirst currently has an average rating of "Hold" and an average price target of $180.00.

UniFirst Company 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.