Unifirst Corporation $UNF Shares Purchased by Cubist Systematic Strategies LLC

Key Points

• Cubist Systematic Strategies LLC significantly increased its stake in Unifirst Corporation by 321.2%, owning approximately 0.19% of the company valued at $6.1 million.
• Unifirst reported a net revenue increase of 1.2% year-over-year, with earnings per share of $2.13 for the last quarter, slightly beating analyst expectations.
• The company declared a quarterly dividend of $0.35, representing an annualized yield of 0.8%, to be paid on September 26th to shareholders of record.

Cubist Systematic Strategies LLC boosted its holdings in Unifirst Corporation (NYSE:UNF - Free Report) by 321.2% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 35,157 shares of the textile maker's stock after purchasing an additional 26,811 shares during the quarter. Cubist Systematic Strategies LLC owned approximately 0.19% of Unifirst worth $6,117,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in UNF. Northern Trust Corp boosted its holdings in Unifirst by 5.0% in the fourth quarter. Northern Trust Corp now owns 263,322 shares of the textile maker's stock worth $45,052,000 after purchasing an additional 12,598 shares during the period. Algert Global LLC boosted its holdings in shares of Unifirst by 27.7% during the fourth quarter. Algert Global LLC now owns 1,943 shares of the textile maker's stock valued at $332,000 after acquiring an additional 422 shares during the period. Cetera Investment Advisers boosted its holdings in shares of Unifirst by 3.1% during the fourth quarter. Cetera Investment Advisers now owns 2,231 shares of the textile maker's stock valued at $382,000 after acquiring an additional 68 shares during the period. Deutsche Bank AG boosted its holdings in shares of Unifirst by 53.6% during the fourth quarter. Deutsche Bank AG now owns 13,169 shares of the textile maker's stock valued at $2,253,000 after acquiring an additional 4,593 shares during the period. Finally, Gotham Asset Management LLC boosted its holdings in shares of Unifirst by 52.6% during the fourth quarter. Gotham Asset Management LLC now owns 7,089 shares of the textile maker's stock valued at $1,213,000 after acquiring an additional 2,444 shares during the period. Institutional investors and hedge funds own 78.17% of the company's stock.

Unifirst Stock Down 0.2%

Shares of NYSE UNF opened at $175.55 on Thursday. Unifirst Corporation has a fifty-two week low of $156.34 and a fifty-two week high of $243.70. The firm's 50-day simple moving average is $175.47 and its 200 day simple moving average is $183.48. The stock has a market cap of $3.26 billion, a P/E ratio of 21.57 and a beta of 0.86.

Unifirst (NYSE:UNF - Get Free Report) last issued its quarterly earnings data on Wednesday, July 2nd. The textile maker reported $2.13 earnings per share for the quarter, beating analysts' consensus estimates of $2.09 by $0.04. Unifirst had a net margin of 6.18% and a return on equity of 7.35%. The business had revenue of $610.78 million for the quarter, compared to analysts' expectations of $614.50 million. During the same period in the previous year, the business earned $2.20 earnings per share. The company's revenue was up 1.2% on a year-over-year basis. Unifirst has set its FY 2025 guidance at 7.600-8.00 EPS. On average, sell-side analysts anticipate that Unifirst Corporation will post 7.71 earnings per share for the current fiscal year.

Unifirst Announces Dividend

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

Wall Street Analysts Forecast Growth

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

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