Unifirst Corporation $UNF Position Boosted by Tribune Investment Group LP

Key Points

• Tribune Investment Group LP increased its investment in Unifirst Corporation by 183.3% in the first quarter, making Unifirst its 7th largest position at approximately 3.8% of its portfolio.
• Unifirst recently reported quarterly earnings of $2.13 per share, exceeding analysts' expectations, but with a year-over-year revenue increase of only 1.2%.
• The company declared a quarterly dividend of $0.35 per share, effective September 26th, representing an annual yield of 0.8%.

Tribune Investment Group LP boosted its holdings in Unifirst Corporation (NYSE:UNF - Free Report) by 183.3% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 51,000 shares of the textile maker's stock after acquiring an additional 33,000 shares during the quarter. Unifirst accounts for 3.8% of Tribune Investment Group LP's portfolio, making the stock its 7th largest position. Tribune Investment Group LP owned about 0.27% of Unifirst worth $8,874,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the business. GAMMA Investing LLC increased its holdings in shares of Unifirst by 59.9% during the first quarter. GAMMA Investing LLC now owns 227 shares of the textile maker's stock valued at $39,000 after purchasing an additional 85 shares during the period. Fifth Third Bancorp grew its position in 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 buying an additional 125 shares in the last quarter. Sterling Capital Management LLC increased its stake in Unifirst by 811.5% during the 4th 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 during the period. Vestcor Inc bought a new stake in shares of Unifirst during the 1st quarter worth about $87,000. Finally, Orion Capital Management LLC bought a new stake in shares of Unifirst during the 4th quarter worth about $104,000. Institutional investors and hedge funds own 78.17% of the company's stock.

Unifirst Price Performance

NYSE UNF traded up $0.36 on Tuesday, hitting $176.56. 8,047 shares of the company were exchanged, compared to its average volume of 129,410. Unifirst Corporation has a twelve month low of $156.34 and a twelve month high of $243.70. The firm has a market capitalization of $3.27 billion, a P/E ratio of 21.66 and a beta of 0.85. The company's 50 day moving average price is $176.57 and its 200-day moving average price is $184.99.

Unifirst (NYSE:UNF - Get Free Report) last announced its earnings results on Wednesday, July 2nd. The textile maker reported $2.13 EPS for the quarter, topping the consensus estimate of $2.09 by $0.04. Unifirst had a net margin of 6.18% and a return on equity of 7.35%. The company had revenue of $610.78 million during the quarter, compared to analysts' expectations of $614.50 million. During the same period last year, the company posted $2.20 earnings per share. The business's revenue for the quarter was up 1.2% on a year-over-year basis. Unifirst has set its FY 2025 guidance at 7.600-8.00 EPS. As a group, equities analysts expect that Unifirst Corporation will post 7.71 EPS for the current year.

Unifirst Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 26th. Stockholders of record on Friday, September 5th will be issued a $0.35 dividend. The ex-dividend date is Friday, September 5th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 0.8%. Unifirst's dividend payout ratio is presently 17.20%.

Analysts Set New Price Targets

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

Unifirst 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.