Topline Capital Management LLC Boosts Stake in Unifirst Corporation $UNF

Key Points

• Topline Capital Management LLC increased its stake in Unifirst Corporation by 109.9%, now owning 48,961 shares valued at approximately $8.52 million.
• Unifirst reported a quarterly earnings per share of $2.13, slightly exceeding analyst expectations, with a total revenue of $610.78 million.
• The company has declared a quarterly dividend of $0.35 per share, with a yield of 0.8%, reflecting a low payout ratio of 17.20%.

Topline Capital Management LLC increased its holdings in Unifirst Corporation (NYSE:UNF - Free Report) by 109.9% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 48,961 shares of the textile maker's stock after purchasing an additional 25,632 shares during the quarter. Unifirst makes up 1.9% of Topline Capital Management LLC's investment portfolio, making the stock its 13th biggest holding. Topline Capital Management LLC owned approximately 0.26% of Unifirst worth $8,519,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the business. Cetera Investment Advisers grew its stake in shares of Unifirst by 3.1% in the fourth quarter. Cetera Investment Advisers now owns 2,231 shares of the textile maker's stock worth $382,000 after purchasing an additional 68 shares during the last quarter. GAMMA Investing LLC boosted its position in 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 acquiring an additional 85 shares during the last quarter. DAVENPORT & Co LLC boosted its position in Unifirst by 1.1% during the first quarter. DAVENPORT & Co LLC now owns 7,613 shares of the textile maker's stock valued at $1,325,000 after acquiring an additional 86 shares during the last quarter. Fifth Third Bancorp boosted its position in Unifirst by 88.7% during the first quarter. Fifth Third Bancorp now owns 266 shares of the textile maker's stock valued at $46,000 after acquiring an additional 125 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC boosted its position in Unifirst by 8.9% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 1,827 shares of the textile maker's stock valued at $313,000 after acquiring an additional 150 shares during the last quarter. Institutional investors own 78.17% of the company's stock.

Unifirst Trading Down 1.5%

Shares of UNF traded down $2.76 on Tuesday, reaching $175.07. The company's stock had a trading volume of 13,282 shares, compared to its average volume of 128,694. Unifirst Corporation has a twelve month low of $156.34 and a twelve month high of $243.70. The stock has a market capitalization of $3.25 billion, a PE ratio of 21.51 and a beta of 0.86. The firm has a fifty day moving average of $175.90 and a 200-day moving average of $183.58.

Unifirst (NYSE:UNF - Get Free Report) last posted its earnings results on Wednesday, July 2nd. The textile maker reported $2.13 earnings per share for the quarter, topping 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 company had revenue of $610.78 million for the quarter, compared to analyst estimates of $614.50 million. During the same quarter in the prior year, the business posted $2.20 EPS. The firm's revenue was up 1.2% compared to the same quarter last year. Unifirst has set its FY 2025 guidance at 7.600-8.00 EPS. As a group, equities analysts anticipate that Unifirst Corporation will post 7.71 EPS for the current fiscal year.

Unifirst Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of brokerages have commented on UNF. JPMorgan Chase & Co. began coverage on shares of Unifirst in a research report on Monday, July 14th. They set an "underweight" rating and a $175.00 price target on the stock. UBS Group cut their price target 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. Barclays set a $152.00 price target on shares of Unifirst and gave the company an "underweight" rating in a research report on Monday, June 30th. Finally, Robert W. Baird set a $197.00 price objective on shares of Unifirst 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 stock. According to data from MarketBeat.com, Unifirst has an average rating of "Reduce" and a consensus target price of $179.50.

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.