Cubist Systematic Strategies LLC Has $6.12 Million Stock Holdings in Unifirst Corporation $UNF

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 increased its holdings in Unifirst Corporation (NYSE:UNF - Free Report) by 321.2% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor 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 0.19% of Unifirst worth $6,117,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Kayne Anderson Rudnick Investment Management LLC lifted its holdings in shares of Unifirst by 3.0% during the 1st quarter. Kayne Anderson Rudnick Investment Management LLC now owns 608,245 shares of the textile maker's stock worth $105,835,000 after acquiring an additional 17,530 shares during the period. Northern Trust Corp raised its position in shares of Unifirst by 0.4% in the first quarter. Northern Trust Corp now owns 264,345 shares of the textile maker's stock valued at $45,996,000 after purchasing an additional 1,023 shares during the period. T. Rowe Price Investment Management Inc. raised its position in shares of Unifirst by 353.8% in the first quarter. T. Rowe Price Investment Management Inc. now owns 171,346 shares of the textile maker's stock valued at $29,815,000 after buying an additional 133,588 shares in the last quarter. Voss Capital LP bought a new position in Unifirst in the 1st quarter valued at about $28,529,000. Finally, Envestnet Asset Management Inc. boosted its position in Unifirst by 5.3% in the first quarter. Envestnet Asset Management Inc. now owns 162,751 shares of the textile maker's stock valued at $28,319,000 after buying an additional 8,253 shares in the last quarter. 78.17% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research analysts recently issued reports on the stock. UBS Group dropped their target price on shares of Unifirst from $196.00 to $194.00 and set a "neutral" rating on the stock in a research report on Monday, June 30th. Robert W. Baird set a $197.00 price objective on shares of Unifirst in a research report on Monday, June 30th. Barclays set a $152.00 price objective on shares of Unifirst and gave the company an "underweight" rating in a research report on Monday, June 30th. Finally, JPMorgan Chase & Co. initiated coverage on shares of Unifirst in a research note on Monday, July 14th. They issued an "underweight" rating and a $175.00 price target on the stock. Two analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Reduce" and an average price target of $179.50.

Unifirst Trading Down 1.9%

NYSE:UNF traded down $3.27 during trading hours on Tuesday, hitting $171.29. The company had a trading volume of 20,376 shares, compared to its average volume of 127,506. The company has a market cap of $3.18 billion, a P/E ratio of 21.00 and a beta of 0.86. Unifirst Corporation has a 1 year low of $156.34 and a 1 year high of $243.70. The company has a 50-day moving average of $174.89 and a 200 day moving average of $182.32.

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

Unifirst Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, September 26th. Shareholders of record on Friday, September 5th will be issued a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date of this dividend is Friday, September 5th. Unifirst's dividend payout ratio (DPR) is currently 17.20%.

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.