Whittier Trust Co. Has $274,000 Stock Holdings in Unifirst Corporation (NYSE:UNF)

Whittier Trust Co. boosted its stake in shares of Unifirst Corporation (NYSE:UNF - Free Report) by 2,435.5% during the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 1,572 shares of the textile maker's stock after buying an additional 1,510 shares during the period. Whittier Trust Co.'s holdings in Unifirst were worth $274,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. GAMMA Investing LLC increased its position in shares of Unifirst by 59.9% in the first quarter. GAMMA Investing LLC now owns 227 shares of the textile maker's stock valued at $39,000 after buying an additional 85 shares in the last quarter. Fifth Third Bancorp increased its position in shares of Unifirst by 88.7% in the first quarter. Fifth Third Bancorp now owns 266 shares of the textile maker's stock valued at $46,000 after buying an additional 125 shares in the last quarter. Sterling Capital Management LLC increased its position in shares of Unifirst by 811.5% in the fourth quarter. Sterling Capital Management LLC now owns 474 shares of the textile maker's stock valued at $81,000 after buying an additional 422 shares in the last quarter. Orion Capital Management LLC purchased a new stake in shares of Unifirst during the fourth quarter worth approximately $104,000. Finally, Meeder Asset Management Inc. increased its position in shares of Unifirst by 419.0% during the fourth quarter. Meeder Asset Management Inc. now owns 628 shares of the textile maker's stock worth $107,000 after purchasing an additional 507 shares in the last quarter. Institutional investors own 78.17% of the company's stock.

Analyst Ratings Changes

UNF has been the topic of several recent analyst reports. Robert W. Baird set a $197.00 price target on Unifirst in a research note on Monday, June 30th. UBS Group cut their price target on Unifirst from $196.00 to $194.00 and set a "neutral" rating on the stock in a report on Monday, June 30th. Barclays set a $152.00 price objective on Unifirst and gave the company an "underweight" rating in a report on Monday, June 30th. Finally, JPMorgan Chase & Co. began coverage on Unifirst in a research report on Monday, July 14th. They issued an "underweight" rating and a $175.00 target price for the company. Two analysts have rated the stock with a sell rating, two have given a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $179.50.

Unifirst Stock Performance

Shares of UNF stock traded down $0.56 during trading hours on Tuesday, reaching $173.77. The company had a trading volume of 92,194 shares, compared to its average volume of 109,281. Unifirst Corporation has a twelve month low of $156.34 and a twelve month high of $243.70. The company has a market capitalization of $3.22 billion, a P/E ratio of 21.35 and a beta of 0.86. The stock's fifty day simple moving average is $183.44 and its 200 day simple moving average is $192.93.

Unifirst (NYSE:UNF - Get Free Report) last released its earnings results on Wednesday, July 2nd. The textile maker reported $2.13 EPS for the quarter, topping analysts' consensus estimates of $2.09 by $0.04. The company had revenue of $610.78 million for the quarter, compared to the consensus estimate of $614.50 million. Unifirst had a return on equity of 7.35% and a net margin of 6.18%. Unifirst's quarterly revenue was up 1.2% compared to the same quarter last year. During the same quarter last year, the business posted $2.20 EPS. As a group, equities analysts expect that Unifirst Corporation will post 7.71 earnings per share for the current year.

Unifirst announced that its Board of Directors has authorized a share repurchase program on Tuesday, April 8th that authorizes the company to repurchase $100.00 million in shares. This repurchase authorization authorizes the textile maker to buy up to 3.3% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company's board of directors believes its shares are 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.