UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Boosts Stock Position in UniFirst Co. (NYSE:UNF)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of UniFirst Co. (NYSE:UNF - Free Report) by 22.1% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 33,588 shares of the textile maker's stock after purchasing an additional 6,078 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned about 0.18% of UniFirst worth $5,747,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Barclays PLC lifted its holdings in UniFirst by 464.6% during the 3rd quarter. Barclays PLC now owns 41,220 shares of the textile maker's stock worth $8,188,000 after buying an additional 33,919 shares in the last quarter. JPMorgan Chase & Co. grew its stake in shares of UniFirst by 5.5% in the fourth quarter. JPMorgan Chase & Co. now owns 387,326 shares of the textile maker's stock worth $66,268,000 after acquiring an additional 20,056 shares in the last quarter. HighTower Advisors LLC increased its position in shares of UniFirst by 5.7% during the fourth quarter. HighTower Advisors LLC now owns 7,472 shares of the textile maker's stock worth $1,278,000 after acquiring an additional 403 shares during the period. KBC Group NV raised its stake in shares of UniFirst by 74.1% in the fourth quarter. KBC Group NV now owns 740 shares of the textile maker's stock valued at $127,000 after acquiring an additional 315 shares in the last quarter. Finally, Millennium Management LLC raised its stake 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 valued at $13,130,000 after acquiring an additional 45,850 shares in the last quarter. Hedge funds and other institutional investors own 78.17% of the company's stock.

Analyst Ratings Changes

Several research analysts recently commented on the company. UBS Group boosted their target price on UniFirst from $194.00 to $196.00 and gave the stock a "neutral" rating in a research note on Thursday, April 3rd. Robert W. Baird decreased their price objective on UniFirst from $218.00 to $197.00 and set a "neutral" rating for the company in a research note on Thursday, April 3rd. Finally, Barclays restated an "underweight" rating and set a $152.00 target price (down from $180.00) on shares of UniFirst in a research note on Friday, April 4th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and one has given a buy rating to the company's stock. According to data from MarketBeat, UniFirst presently has a consensus rating of "Hold" and a consensus price target of $180.00.

UniFirst Stock Up 0.3%

Shares of UniFirst stock traded up $0.63 during trading on Thursday, reaching $188.65. The company's stock had a trading volume of 116,021 shares, compared to its average volume of 105,566. The business has a 50 day moving average price of $178.86 and a 200-day moving average price of $194.55. UniFirst Co. has a 12-month low of $149.58 and a 12-month high of $243.70. The company has a market capitalization of $3.50 billion, a P/E ratio of 24.09 and a beta of 0.87.

UniFirst (NYSE:UNF - Get Free Report) last announced its quarterly earnings results on Wednesday, April 2nd. The textile maker reported $1.31 EPS for the quarter, missing the consensus estimate of $1.34 by ($0.03). UniFirst had a return on equity of 7.40% and a net margin of 6.00%. The firm had revenue of $602.20 million for the quarter, compared to analysts' expectations of $602.81 million. During the same period last year, the firm earned $1.09 EPS. UniFirst's revenue was up 1.9% compared to the same quarter last year. Research analysts predict that UniFirst Co. will post 7.71 EPS for the current fiscal year.

UniFirst Announces Dividend

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

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

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.