UniFirst Co. (NYSE:UNF) Shares Purchased by Deutsche Bank AG

Deutsche Bank AG increased its holdings in shares of UniFirst Co. (NYSE:UNF - Free Report) by 53.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 13,169 shares of the textile maker's stock after purchasing an additional 4,593 shares during the quarter. Deutsche Bank AG owned 0.07% of UniFirst worth $2,253,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently made changes to their positions in the stock. Independence Bank of Kentucky bought a new stake in UniFirst during the fourth quarter valued at about $34,000. Blue Trust Inc. grew its position in UniFirst by 1,105.3% in the fourth quarter. Blue Trust Inc. now owns 229 shares of the textile maker's stock worth $39,000 after acquiring an additional 210 shares in the last quarter. Smartleaf Asset Management LLC increased its position in shares of UniFirst by 252.0% during the 4th quarter. Smartleaf Asset Management LLC now owns 345 shares of the textile maker's stock valued at $59,000 after purchasing an additional 247 shares during the last quarter. Jones Financial Companies Lllp increased its position in UniFirst by 187.2% during the fourth 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. Finally, Sterling Capital Management LLC raised its position in UniFirst by 811.5% in the 4th quarter. Sterling Capital Management LLC now owns 474 shares of the textile maker's stock worth $81,000 after purchasing an additional 422 shares during the period. 78.17% of the stock is currently owned by institutional investors.

UniFirst Stock Performance

Shares of UniFirst stock traded down $1.58 on Wednesday, reaching $187.37. The company had a trading volume of 10,046 shares, compared to its average volume of 134,124. The firm has a market cap of $3.48 billion, a PE ratio of 23.96 and a beta of 0.87. UniFirst Co. has a 52-week low of $149.58 and a 52-week high of $243.70. The firm's 50 day moving average price is $177.94 and its two-hundred day moving average price is $194.96.

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

UniFirst declared that its Board of Directors has authorized a share repurchase program on Tuesday, April 8th that allows the company to buyback $100.00 million in outstanding shares. This buyback authorization allows the textile maker to buy up to 3.3% of its shares through open market purchases. Shares buyback programs are often an indication that the company's leadership believes its stock is undervalued.

UniFirst Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 27th. Shareholders of record on Friday, June 6th will be issued a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 0.75%. The ex-dividend date is Friday, June 6th. UniFirst's dividend payout ratio (DPR) is currently 17.41%.

Analyst Ratings Changes

UNF has been the subject of a number of research reports. Robert W. Baird lowered their price target on UniFirst from $218.00 to $197.00 and set a "neutral" rating for the company in a report on Thursday, April 3rd. 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. Finally, UBS Group upped their target price on UniFirst from $194.00 to $196.00 and gave the company a "neutral" rating in a research report on Thursday, April 3rd. Two investment 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. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus 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.